Hydro Launches RWA Initiative with Ondo Finance Support

• Hydro Protocol’s RWA initiative launches with Ondo Finance and Injective integration, enhancing DeFi opportunities.
• USDY yieldcoin is integrated into Injective, offering 5.3% APY and boosting Hydro Protocol’s Real Yield Asset strategy.

Hydro Protocol has officially launched its Real World Asset (RWA) program in partnership with Ondo Finance and Injective.

This is a significant milestone because Hydro users may now access Ondo Finance’s USDY, which has been integrated into Injective, as we previously reported. It makes Hydro the first LSDFi and RWA management protocol on the Injective network.

Hydro Ondo Injective
Hydro’s #RWA initiative is launching in collaboration with @OndoFinance and is supported by @injective

The $USDY will become a key element of Hydro's distinctive RYA (Real Yield Asset), adding another significant application for Ondo.

More… pic.twitter.com/py0bhoUIEC

— Hydro Protocol (@hydro_fi) July 29, 2024

USDY Integration Boosts Hydro Protocol’s RYA Strategy in Injective Ecosystem 

USDY is a yieldcoin backed by short-term US Treasuries with a steady and high-quality yield of 5.3% APY. This financial product is available to non-US individual and institutional investors and has similar usefulness to stablecoins.

The addition of USDY to Injective enables protocol dapps such as Hydro Protocol to implement a RWA strategy, establishing USDY as a key component of Hydro’s Real Yield Asset (RYA).

RYA is an important financial product in Injective’s LSDFi ecosystem, connecting Real World Assets (RWA) and Crypto World Assets (CWA). The inclusion of USDY in the Hydro Protocol is projected to greatly improve the utility and yield potential of RYA, thereby cementing Hydro’s market position. The Hydro team stated:

“Hydro Protocol is making significant advances in treading in the RWA world. We are already engaged in numerous conversations with various RWA projects to ensure maximum RWA strategy on Injective and Hydro Protocol. More is certainly to come.”

As of this writing, the price of ONDO tokens is trading around $0.9563, down 3.79% over the last 24 hours, and maintaining a bearish multi-week structure with a market capitalization of $1.329 billion.

Analyst Predicts Bullish Rally for ONDO Coin

Despite the fall, popular analyst Captain Faibik has identified a possible bullish trend for ONDO coin on a 12-hour chart. He emphasized that ONDO is on the cusp of breaking out of a Descending Channel pattern, with a successful breakout expected to result in a +50% bullish rally.

In addition, CNF previously revealed that Injective had incorporated the Mountain Protocol, introducing USDM, a native yield-bearing stablecoin backed by Treasury notes. USDM generates a 5% yearly income and provides a variety of real-world asset use cases within the Injective ecosystem.

This integration demonstrates Injective’s dedication to broadening its financial products and creating strong yield potential for its customers.