Ondo Finance, a renowned provider of institutional-grade financial services, has unveiled its latest integration initiative. According to the announcement, Ondo Finance is integrating Dolomite, a next-generation margin trading and money market protocol that supports Polygon zkEVM, X Layer, Mantle, and Arbitrum. The platform shared this update through its official social media channels.
“We’re excited to welcome @Dolomite_io to the Ondo Ecosystem with the integration of $USDY on @0xMantle’s deployment of its money market and margin trading protocol!” Ondo Finance tweeted.
Dolomite operates as a versatile money market and margin trading protocol catering to platforms such as Arbitrum, Mantle, X Layer, and others.
In a recent communication, Ondo Finance expressed enthusiasm for the collaboration with Dolomite. This partnership follows the integration of $USDY on Mantle’s platform for margin trading and money market services. Ondo Finance highlighted the substantial benefits this integration brings to Mantle users, particularly in providing unique opportunities for $USDY lenders on Dolomite.
Reportedly, lenders on Dolomite can earn yields supported by US Treasuries in addition to the lending yield provided by Dolomite itself. Katie Wheeler from Ondo Finance commented on the significance of this integration, emphasizing its role in enhancing the utility of the $USDY token and improving capital efficiency for Dolomite lenders through multiple yield sources.
CoreyCaplan.eth, the creator of Dolomite, also shared insights on this collaboration. They noted that the inclusion of $USDY represents a significant milestone, offering exclusive opportunities for customers. The creator highlighted the $USDY token’s role as a foundational asset in decentralized finance, underscoring ongoing efforts to maximize its utility through advanced money market functionalities.
Overall, the integration aims to leverage Dolomite’s cutting-edge capabilities to enhance the utility and accessibility of the $USDY token within the decentralized finance landscape.
