Ondo Finance, renowned for its top-tier financial offerings, has unveiled a groundbreaking collaboration. The company is incorporating “Dolomite,” an avant-garde margin trading and money market platform catering to Polygon zkEVM, X Layer, Mantle, and Arbitrum networks. This strategic move was broadcasted on the company’s official social media channels.
Excitement abounds as we announce the arrival of @Dolomite_io within the Ondo Ecosystem, following the successful integration of $USDY on the @0xMantle version of its money market and margin trading protocol!
⚖️ Dolomite stands as a pioneering money market and margin trading protocol, serving a diverse range of networks including Arbitrum, Mantle, X Layer, and more…
— Ondo Finance (@OndoFinance) July 5, 2024
**Strategic Alliance: Ondo Finance and Dolomite**
Ondo Finance recently shared its excitement over a new strategic alliance in a post on X. This initiative follows the integration of the $USDY currency on the Mantle platform, enhancing its margin trading and money market services. The firm anticipates that this will bring considerable advantages to Mantle users, offering unique services specifically for Dolomite-affiliated $USDY investors.
These investors are expected to gain yields backed by US Treasuries, in addition to the lending yields provided by Dolomite. Katie Wheeler of Ondo Finance weighed in on the initiative, noting that it bolsters the utility of the $USDY token and provides Dolomite lenders with enhanced capital efficiency through multiple yield sources.
**Fostering the Utility of $USDY**
CoreyCaplan.eth, the mind behind Dolomite, also shared insights on this venture. The integration of the $USDY currency is seen as a significant milestone, set to unlock new opportunities for customer facilitation. The discussion also highlighted the $USDY token’s role as an innovative and vital asset within the decentralized finance landscape. The integration aims to amplify the utility of the $USDY currency, leveraging Dolomite’s state-of-the-art money market capabilities.