Demex Daily #162: Ondo Finance Introduces $rUSDY as New Distributing Token on Ethereum Mainnet

What’s Interesting Today:

Ondo Finance has introduced $rUSDY on the Ethereum Mainnet, a new distributing variant of $USDY. In this model, yield is generated daily and added as extra tokens in the holder's wallet, with each token consistently valued at $1.00. This is in contrast to $USDY, where the number of tokens remains the same, but their redemption value increases over time. Holders can freely convert between $USDY and $rUSDY without any slippage on Ondo Finance's conversion platform. It's important to note that USDY is not offered or sold in the US, nor to US persons, and has not been registered under the US Securities Act.

Caldera, a leading Rollup-as-a-Service platform, has introduced Guardian Nodes to enhance decentralization and offer innovative fundraising opportunities for blockchain teams. This new system allows network users to verify rollup blocks and secure the network in exchange for rewards. Guardian Nodes, which operate on everyday hardware without requiring a full node, enable users to participate in the validation process by purchasing "keys" that allow them to operate a node. HYCHAIN, the first team to adopt this system, successfully raised over $8 million by selling more than 16,000 node keys within two weeks. This system not only boosts community engagement and project revenue but also strengthens network security by increasing oversight and identifying malicious activities, thereby enhancing the chain's trust and demand for its native token.