Ondo US Dollar Yield (USDY) is a tokenized note secured by short-term US Treasuries and bank demand deposits. It is designed to provide non-US individual and institutional investors with a stablecoin-like accessibility and high-quality, US dollar-denominated yield.
Ondo US Dollar Yield (USDY) is a tokenized note secured by short-term US Treasuries and bank demand deposits. It offers a variable interest rate, currently set at 5% APY, and is designed to provide global accessibility and yield with institutional-grade investor protections. USDY can be minted and redeemed daily, with a 40-50 day transferability delay after initial issuance. It is available for both individual and institutional investors, who can onboard quickly and undergo KYC/KYB processes for minting and redemption.
To store Ondo US Dollar Yield (USDY) tokens, you have several options:
KuCoin Account: You can hold your USDY tokens in your KuCoin account. This provides quick access to trading products like spot and futures trading, staking, and lending. KuCoin serves as the custodian of your crypto assets, ensuring security and convenience. Make sure to set up a strong password and upgrade your security settings to prevent unauthorized access.
Non-Custodial Wallets: For enhanced security and control, you can withdraw your USDY tokens to a non-custodial wallet. This includes hardware wallets, Web3 wallets, or paper wallets. This option grants you complete control over your private keys but may be less convenient for frequent trading or lending activities. Be sure to store your private keys securely to avoid losing access to your tokens.
DeFi Wallet: You can also store USDY tokens in a DeFi wallet, which allows you to interact with decentralized exchanges and other DeFi platforms. This option provides flexibility and control over your tokens but requires you to manage your own private keys and security.
Each method has its pros and cons, so choose the one that best fits your needs and preferences.
To buy Ondo US Dollar Yield (USDY) tokens, follow these steps:
- Find a Decentralized Exchange (DEX): Look for DEXs where USDY is listed. This can include platforms like Binance or Gate.io.
- Create and Set Up a DeFi Wallet: Create a decentralized finance (DeFi) wallet to store your USDY tokens. Ensure it is compatible with the chosen DEX.
- Fund Your DeFi Wallet: Deposit funds into your DeFi wallet to use for purchasing USDY tokens.
- Connect to the DEX: Connect your DeFi wallet to the chosen DEX to access the USDY market.
- Buy USDY: Use your funds to buy USDY tokens on the DEX.
Please note that USDY is only available to non-US individual and institutional investors, and there are specific limitations and requirements for onboarding and redeeming USDY tokens.
