Decentralized Ondo US Dollar Yield (USDY) Spot Market Listing on Helix

The USDY/USDT spot market is available on Helix! You can now trade the USDY with market and limit orders on Helix, the premier on-chain crypto exchange built on Injective.

Read more below to find out more about Ondo Finance and Ondo US Dollar Yield (USDY), the benefits of trading USDY on Helix, and a step-by-step guide on how to trade on Heilx.

Get started here: https://helixapp.com/spot/usdy-usdt/

What Is Ondo Finance and Ondo US Dollar Yield (USDY)?

Ondo Finance is dedicated to enhancing the safety, efficiency, and accessibility of financial services through institutional-grade on-chain offerings. Ondo Finance has a technology arm focused on developing on-chain financial software and an asset management arm that creates and manages tokenized products.

USDY is the world’s first tokenized note secured by US Treasuries, providing similar accessibility and utility as stablecoins while also offering a yield. Tokenized US Treasuries have fueled the growth of the real-world assets sector, where traditional financial assets are made available on blockchains so that users can leverage benefits from the technology such as 24/7 global transferability and compatibility with decentralized financial application. The market capitalization of real-world assets has grown from $100 million to over $704 million since the beginning of 2023, with Ondo leading the way.

Disclaimer: The USDY Tokens are not being offered or sold, and will not be offered or sold, in the United States or to U.S. persons. In addition, the USDY Tokens have not been registered under the Securities Act of 1933, as amended (the “Act”) or the securities laws of any other jurisdiction, and may not be offered, sold or otherwise transferred in the United States or to U.S. persons unless the securities are registered under the Act, or an exemption from the registration requirements of the Act is available. Additional limitations on transfer also apply.

Why Trade USDY on Helix

With a diverse array of upgrades and advanced enhancements, Helix is the only truly decentralized derivatives exchange. Helix provides completely unmatched exchange, trading bots, advanced order types, a brand new Swap interface, trading histories, and reward tracking to Injective users. Anyone can use Helix as a crypto cross-chain trading gateway with zero gas fees, best-in-class security, and lightning-fast speeds.

Helix is the first platform to support USDY/USDT spot market within the Cosmos ecosystem alongside maker fee rebates, and new ways to earn with every trade.

USDY-USDT Market Details

Base asset: USDY

Quote asset: USDT

Minimum price tick size: $0.0001 USDY

Minimum quantity step: 0.1 USDT

Trade and earn multiplier: 1X maker pts; 1X taker pts

Fee: -0.01% maker fee; 0.1% taker fee

Trading hours: 24/7/365

How to Trade USDY/USDT on Helix?

In order to trade the USDY/USDT spot market on Helix, you will need to have either USDY or USDT in your Injective Wallet. The first step is to deposit assets to Injective.

Option 1: Bridge USDY from Ethereum to Injective

Go to Injective Bridge and connect your wallet;

Select “Ethereum” from the dropdown menu as the origin source, select “USDY” as the token. and make sure it has USDY balance;

Enter the amount of USDY tokens you would like to transfer and click “Transfer Now”;

Once the transfer is completed, you can check the USDY balance in your Injective Wallet or Account page on Helix.

Option 2: Bridge USDT from Ethereum to Injective

Connect your Ethereum wallet (e.g. MetaMask, Trust Wallet, Ledger, Torus, Trezor) on Helix and make sure it has USDT balance;

Go to the Account page on Helix and click “Deposit”;

Select Ethereum in the dropdown menu and select USDT as the token you want to bridge;

Click the “Set Allowance” button, which allows the bridge contract to use your USDT for the transfer; this will prompt you to sign a transaction via MetaMask or another wallet;

Note that you need to pay a small amount in ETH gas fees to bridge tokens from Ethereum (but don’t worry there won’t be any gas fees on Injective!). Click “Confirm” to continue;

Enter the amount of USDT you want to bridge over and click “Transfer Now”;

Once the transaction is completed, you can check your USDT balance via the Injective Wallet or Account page on Helix.

Option 3: Onboard with Fiat

You can also onboard onto Helix using popular fiat currencies by selecting from one of the fiat on-ramp providers such as Kado, Transak or Payfura.

Choose your payment currency (e.g. USD) and enter the amount in fiat you would like to swap;

Select Injective as the network to receive your payment amount;

Follow the instructions and continue the steps;

Once the transaction is completed, you will see the USDT or INJ balance on Injective Wallet or Account page under Helix;

Swap INJ to USDT by using the Swap feature if needed.

Trading USDY/USDT on Helix

After you successfully have USDY or USDT assets to Injective, you are ready to trade!

Go to the USDY/USDT spot market on Helix;

Now you can buy USDY using USDT, or sell USDY to get USDT;

On Helix, you can choose the type of order, either Market or Limit order;

Enter the amount you want to Buy or Sell, submit your order and approve it with your wallet;

Once the order is approved successfully, you will see a notification “Your order has been placed.”

Upcoming Listings

Moving forward, Helix will continue to expand the markets available for users. All community members can propose to bring new assets to Helix using the governance portal on the Injective Hub. Ultimately, all INJ token holders own Injective so the community has the power to bring new assets to the dApp ecosystem with the help of the DAO.

Stay updated on all new listings by joining Helix on Twitter and Telegram!