USDY vs Rebasing USDY (rUSDY)

What’s the difference between USDY and rUSDY?

The ‘r’ in rUSDY stands for ‘rebasing’. rUSDY is intended to maintain a price of $1.00 per token (with the accruing yield being represented by the division of rUSDY tokens into more tokens via rebasing). By contrast, the accruing yield of USDY tokens gets ‘accumulated’ into the price, such that the price of USDY is intended to appreciate over time. For example, let’s say you held 100 rUSDY tokens and 100 USDY tokens that were each worth a dollar. The next day the USDY price per token increased to $1.01 per token. After the price update and rebasing, your holdings of both rUSDY and USDY would each be worth $101.00. You would still have a balance of 100 USDY tokens worth $1.01 apiece. However, due to the rebasing nature of rUSDY tokens, you would now hold 101 rUSDY tokens worth $1.00 per token.

How do I decide between USDY and rUSDY?

While we believe many tokenholders will want to hold rUSDY because of its intended price stability, certain protocols, exchanges, or custodians may not support rebasing tokens. Regardless, converting between USDY and rUSDY is easy.

How do I convert between USDY and rUSDY?

Use the Ondo Converter (opens in a new tab) on our website to easily convert between USDY and rUSDY.

USDY Legal Disclaimer

USDY tokens have not been registered under the US Securities Act of 1933, as amended ("Act") or the securities or financial instrument laws of any other jurisdiction, and may not be offered or sold in the US or to US persons unless registered under the Act or an exemption from the registration requirements thereof is available. The Tokens are offered and sold in the European Economic Area and the United Kingdom solely to qualified investors, and in Switzerland solely to professional clients. Other jurisdiction-based prohibitions and restrictions apply. Ondo USDY LLC, the issuer of USDY, is not registered as an investment company under the US Investment Company Act of 1940, as amended, or as an Alternative Investment Fund or Undertaking for Collective Investment in Transferable Securities in the European Economic Area, or under the securities or financial instrument laws of any other jurisdiction. Nothing herein constitutes any offer to sell, or any solicitation of an offer to buy, USDY. Nothing herein constitutes investing advice. Acquiring USDY involves risks. A USDY holder may incur losses, including total loss of their purchase price. Past performance is not an indication of future results. Additional terms apply. See docs.ondo.finance/legal/terms-of-service, docs.ondo.finance/general-access-products/usdy and ondo.finance/usdy (opens in a new tab) for details.