DeFi
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9/2/2024

Navigating New Waters: Ondo's Wave of Tokenization Meets Sui's Expanding Sea

Navigating New Waters: Ondo's Wave of Tokenization Meets Sui's Expanding Sea

Ondo Finance is thrilled to announce a groundbreaking partnership with Sui, bringing our premier tokenized US Treasuries product, USDY, natively onto the Sui network. This collaboration is set to enhance the accessibility of Real World Asset (RWA) products within Sui's rapidly expanding ecosystem, known for its significant strides in decentralized finance (DeFi).

In less than a year, Sui has emerged as a top 10 DeFi blockchain, showcasing a remarkable 1000% jump in Total Value Locked (TVL) over just four months. This surge underscores Sui's remarkable potential and highlights the community's dedication to addressing real-world challenges with innovative DeFi solutions, showcasing its valuable contributions alongside other established blockchains.

Sui aligns with Ondo's mission to democratize access to institutional-grade financial products. Sui's mainnet is engineered for exceptional transaction throughput and scalability, thanks to its distinctive object-centric architecture and a delegated proof-of-stake consensus mechanism. Sui swiftly and efficiently processes transactions, providing a fast, high-throughput, and cost-effective platform for USDY.

Nathan Allman, Ondo Finance's Founder and CEO, is enthusiastic about this partnership. “Sui's remarkable ascent in the DeFi space represents a realization of the promises of blockchain technology and a unique opportunity for us to help contribute to their onchain financial ecosystem. Our collaboration with Sui broadens Ondo's reach and introduces Ondo’s reliable, yield-generating assets to a broader audience, fostering innovation and stability across the ecosystem.”

“Ondo is an amazing addition to the Sui ecosystem, providing a native alternative to stablecoins that will unlock new opportunities for Sui’s builders and developers and essential new functionality for the users of their applications,” said Greg Siourounis, Managing Director of the Sui Foundation. “Sui’s recent growth in DeFi volume was already leading the industry and Ondo’s participation will make that trajectory even stronger. I am excited to see how Sui’s community leverages the real-world assets and innovative financial products Ondo offers.”

USDY will be incorporated in Sui's leading DeFi protocols, enriching Sui’s ecosystem with stable and liquid investment options.  We're committed to leading the charge in the tokenization of RWAs and are excited to join Sui's vibrant ecosystem. Stay tuned for more updates and collaborations that reinforce our vision of accessible, efficient, and transparent finance.

Disclaimer

The USDY Tokens are not being offered or sold, and will not be offered or sold, in the United States or to US persons. In addition, the USDY Tokens have not been registered under the Securities Act of 1933, as amended (the "Act") or the securities laws of any other jurisdiction, and may not be offered, sold or otherwise transferred in the United States or to US persons unless the securities are registered under the Act, or an exemption from the registration requirements of the Act is available. Additional limitations on transfer also apply.

About Sui

Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing, user-friendly experiences.

About Ondo

Ondo Finance provides institutional-grade, blockchain-enabled investment products and services. Ondo has an asset management arm that creates and manages tokenized financial products as well as a technology arm that develops decentralized finance protocols and other blockchain solutions.

Ondo’s first core products are tokenized cash equivalents that deliver very low risk, high-quality yield from US Treasuries, money market funds, and similar instruments, offering on-chain investors an alternative to stablecoins where holders rather than issuers earn the vast majority of the underlying asset yield.

For more information on our products, please reach out to us at support@ondo.finance or check out the following resources:

Website | X/Twitter | Blog

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