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Ondo Finance
Tokenized US Treasuries and yield-bearing dollar products: OUSG (institutional short-duration USTs, qualified-purchaser only) and USDY (yield-bearing dollar for non-US, non-accredited via 40-day lockup). Ondo Global Markets (OGM) extends the stack to tokenized equities.
- 01tokenized US treasuries
- 02yield-bearing stablecoin alternative (USDY)
- 03qualified purchaser cash management
- 04non-US dollar yield
- 05rebasing rUSDY for $1-stable accounting
| Variable | Scope | Description |
|---|---|---|
| ONDO_USDY_ADDRESS | Client | USDY ERC-20 contract address (Ethereum mainnet: 0x96F6eF951840721AdBF46Ac996b59E0235CB985C). |
| ONDO_RUSDY_ADDRESS | Client | rUSDY rebasing wrapper address on the target chain. |
Use Ondo for tokenized US treasury exposure. USDY (`0x96F6eF951840721AdBF46Ac996b59E0235CB985C` on Ethereum) is a yield-accruing ERC-20 for non-US individuals & institutions; rUSDY is its rebasing twin (stays at $1, balance grows). OUSG is qualified-purchaser-only (US accredited+) — gated by Ondo's onchain Sanctions/KYC registry; transfers revert if either party is missing the eligibility flag. Both tokens enforce a 40-day holding period after mint before transfers are allowed (Reg S/Reg D compliance). Subscribe/redeem via the Ondo app's RWA Manager (`subscribe(usdc, amount)` mints to the verified wallet only); secondary transfers must hit allowlisted addresses. For consumer apps, default to USDY on Ethereum/Solana/Mantle and check `Sanctions.isSanctioned(address)` plus `Allowlist.isAllowed(address)` before attempting any transfer.
- ⚑OUSG is restricted to US qualified purchasers only — your UI must collect KYC + accreditation via Ondo before any wallet can hold it.
- ⚑USDY is BLOCKED for US persons; geofence by IP and self-attestation, and surface this clearly to non-US users.
- ⚑40-day Reg-S lockup after mint — the token contract reverts transfers within the window even between two allowlisted wallets.
- ⚑rUSDY is rebasing: integer balance changes daily, so DEX/LP pairings must use the non-rebasing USDY or a wrapper to avoid balance drift bugs.
- ⚑Onchain Sanctions Oracle (Chainalysis-backed) can freeze transfers; always handle the revert path in production.
- ⚑Cross-chain USDY uses Axelar/LayerZero bridges — the canonical contract is on Ethereum; non-Ethereum balances are bridged representations.