TechFlow reports that on December 10, BounceBit announced a strategic partnership with Ondo Finance to expand its CeDeFi platform into real-world assets by launching the $USDY Vault. The vault offers institutional-grade yields (4.65% APY, with TVL reaching $450 million) along with additional $BB rewards.
The first-phase product launched is a U.S. Treasury-based RWA asset, while the second phase, set for release in Q1 2025, will bring traditional finance and more RWA assets onto the BounceBit chain, featuring minting/burning functionality, liquidation mechanisms, and RWA collateral to enable compound yields.
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