Ondo Finance and NAVI Protocol Launch $35,000 USDY Rewards Campaign
Ondo Finance has partnered with NAVI Protocol to launch a campaign rewarding users for depositing USDY, running from February 26 to March 12. The total prize pool is $35,000.
- Top 100 participants share $10,000 based on points earned.
- 2,500 additional participants can win part of $25,000 in a raffle.
- Users can increase point earnings by trading Ondo RWAs during the campaign.
This initiative aims to enhance liquidity for USDY, a stablecoin linked to US Treasury yields, and promote real-world assets in decentralized finance (DeFi).
Sui’s DeFi Ecosystem Developments
The Sui DeFi ecosystem recently surpassed $1.3 billion in total value locked (TVL), indicating a shift to utility-driven financial use cases. Ondo Finance noted that this growth creates an ideal environment for real-world assets.
USDY has been integrated into various platforms and saw a more than 1% increase in value over the past 24 hours, with market volume up by over 45%.
NAVI Protocol plays a significant role in this growth, boasting over $450 million in market size and serving as a platform for Ondo's tokenized US Treasuries. NAVI reported a 2000% increase in 2024, with $750 million TVL and nearly 900,000 unique users.
- NAVI supports 17 asset liquidity pools and integrates with over 21 wallets.
- Deposits on NAVI have exceeded $27.9 billion.