Demex Daily #292: Arbitrum and Alchemy Boost Orbit Chain Growth with $10M Grant Program

What’s Interesting Today:

Arbitrum and Alchemy launched a $10M grant program to support Orbit chain development, offering up to $500K in Alchemy infrastructure credits for teams building or migrating to Orbit-based rollups. Orbit Layer 3 chains like Xai and PlayBlock rank among Ethereum's top five by daily throughput, highlighting Orbit's growing popularity. Arbitrum’s governance recently approved expanding Orbit to non-Ethereum networks.

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Ondo Finance is using LayerZero to make its yield-bearing stablecoin, USDY, fungible across multiple blockchain networks, including Ethereum, Mantle, and Arbitrum. This integration allows users to access USDY and its tokenized Treasury products without needing to mint or swap tokens. USDY offers a 4.9% APR and is backed by bank deposits and short-term Treasurys, with a TVL of over $450 million. Ondo aims to expand to more networks, and LayerZero’s Omnichain Fungible Token standard enables seamless cross-chain transfers without wrapping or liquidity pools.

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