---
title: "Ondo US Dollar Yield (USDY) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdy-ondo-finance/"
description: "Build-time stablecoin profile for Ondo US Dollar Yield (USDY). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# Ondo US Dollar Yield (USDY)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

Ondo's USDY carries a C+ safety grade, and the spread of its sub-scores explains the discount better than any headline figure: pristine, very-low-risk collateral on one side, a centralized governance posture and thin tradeable depth on the other. The backing is about as clean as tokenized {{term:treasury}}Treasury{{/term}} exposure gets — short-term U.S. Treasuries, iShares short Treasury ETF shares, and bank demand deposits, with daily NAV {{term:attestation}}attestation{{/term}} from Ankura Trust — which earns USDY strong resilience and dependency marks. What drags the grade down is everything around that collateral: a failing decentralization score reflecting the BVI-domiciled, issuer-controlled structure with a multi-day {{term:redemption}}redemption{{/term}} window, plus weak on-chain liquidity despite a footprint spanning roughly a dozen networks from Ethereum and Solana through Cosmos chains like Noble and Mantra. The peg itself stays unremarkable — no depeg events on record and nothing flagging stress — which is the point of a {{term:yield-bearing}}yield-bearing{{/term}} NAV token that accrues value rather than chasing a hard dollar. USDY remains a clean way to hold American government debt for the non-U.S. investors that American regulators won't let buy it directly; the grade simply prices in that you're trusting Ondo's plumbing, not a market, to get your money back.

## Collateral

Short-term U.S. Treasuries, iShares Short Treasury Bond ETF shares, and bank demand deposits

## Peg Mechanism

Bank wire redemption at NAV-based price with independent verification and collateral agent oversight

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| British Virgin Islands | N/A | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x96f6ef951840721adbf46ac996b59e0235cb985c` | 18 |
| arbitrum | `0x35e050d3c0ec2d29d269a8ecea763a183bdf9a9d` | 18 |
| mantle | `0x5be26527e817998a7206475496fde1e68957c5a6` | 18 |
| plume | `0xd2b65e851be3d80d3c2ce795eb2e78f16cb088b2` | 18 |
| sei | `0x54cd901491aef397084453f4372b93c33260e2a6` | 18 |
| sui | `0x960b531667636f39e85867775f52f6b1f220a058c4de786905bdf761e06a56bb::usdy::USDY` | 6 |
| solana | `A1KLoBrKBde8Ty9qtNQUtq3C2ortoC3u7twggz7sEto6` | 6 |
| aptos | `0xcfea864b32833f157f042618bd845145256b1bf4c0da34a7013b76e42daa53cc` | 6 |
| stellar | `USDY-GAJMPX5NBOG6TQFPQGRABJEEB2YE7RFRLUKJDZAZGAD5GFX4J7TADAZ6` | 7 |
| noble | `ausdy` | 18 |
| osmosis | `ibc/23104D411A6EB6031FA92FB75F227422B84989969E91DCAD56A535DD7FF0A373` | 18 |
| mantra | `ibc/6749D16BC09F419C090C330FC751FFF1C96143DB7A4D2FCAEC2F348A3E17618A` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usdy-ondo-finance.