Ondo Token Converter

Most Ondo tokens are yield-bearing. This yield can be paid out either in a distributing form or in an accumulating form.

For distributing tokens, the yield accrues daily via additional tokens distributed to your wallet. The redemption value per token stays stable at $1, and the amount of tokens in your wallet increases.

For accumulating tokens, the yield accrues daily via an increasing redemption value per token. The quantity of tokens in your wallet remains the same, but the redemption value per token has increased.

You can convert anytime between these two forms with no slippage using the Ondo Token Converter.

📄️ USDY and mUSD Conversion

USDY exists in two forms on Mantle. USDY is the accumulating form, and mUSD is the distributing form.