TechFlow news, NAVI Protocol, a DeFi protocol within the Sui ecosystem, now supports Ondo's yield-bearing stablecoin USDY. NAVI Protocol launched USDY on October 16, aiming to provide users with easier and more secure access to RWA assets. Users can participate to gain diversified yield opportunities, including USDY yields and lending interest. Using USDY as collateral for borrowing enhances capital efficiency while maintaining exposure to USDY’s native yield. Additionally, as the project with the highest TVL in the Sui ecosystem, NAVI's integration of USDY paves the way for incorporating RWAs into advanced yield strategies within Sui DeFi.
Previously, the Sui blockchain announced a collaboration with Ondo Finance to bring USDY, Ondo Finance’s USD-denominated stablecoin, onto the Sui network, making it the network’s first native USD-denominated token. Similar to USDT or USDC, USDY is a tokenized note backed by short-term U.S. Treasury securities and bank demand deposits. Holders earn returns generated by the underlying assets, accrued in the form of increasing token value.
