Pyth Network launches ONDO/USD price feed

Pyth Network (PYTH), a first-party oracle network that financial dApps are leveraging to access real-time market data, has announced support for ONDO/USD price feed.

The launch means the price feed of Ondo Finance’s native governance token is now available to decentralised applications across more than 50 blockchains, Pyth Network revealed on Monday.

Pyth Network provides its services to more than 290 dApps, with over 400 price feeds available.

Both PYTH and ONDO traded lower in the past 24 hours, with PYTH/USD down 9% to $0.38. Meanwhile, ONDO/USD was down more than 12% to $0.24.

Ondo Finance’s USDY up

Ondo Finance launched its Ondo US Dollar Yield (USDY), a tokenized note secured by US Treasuries and bank deposits in August 2023, with access to global (non US) investors. USDY offers the functionality and accessibility of stablecoins but comes with a 5% APY for holders.

The product’s unveiling follows the platform’s foray into the tokenization sector via its Ondo Short-Term US Government (OUSG) Bond Fund. OUSG was the first-ever on-chain product backed by US Treasuries.

In December 2023, Ondo Finance announced it was expanding its US Treasury-backed tokens to Solana (SOL). The RWA protocol also added support for ONDO on Solana-based DeFi protocols, including Orca and Raydium. Ondo Finance recently expanded its real-world assets (RWAs) products to the Asia Pacific market.

While the price of ONDO has shrunk by more than 12% in the past 24 hours, the price for Ondo US Dollar Yield (USDY) is up 1.5% to $1.05. USDY rose to highs of $1.07 on December 28, 2023.