Every coin's fees, held as US Treasuries.
One treasury wallet holds the reserve for every coin. Which coin owns which dollars is tracked to the micro-dollar, and every move is on chain.
Where the money goes
Same fee, same five steps, for every coin. Nothing is held by a person, and every number here is live.
Every buy and sell on the USDC curve pays a 30 bps creator fee to the coin's own wallet.
Each coin has its own creator wallet, so its fees are never mixed with anyone else's.
Claims every coin's fees in one signature each and batches them into a single USDY buy.
Short-dated US Treasuries and bank deposits, tokenized. It grows by price, not by rebasing.
Yield above each coin's cost is sold to USDC and 80% goes to its holders, by bag size.
USDY trades on Solana with roughly ±0.3% of daily noise, while a month of interest at ~4% a year is only ~0.35%. Fit a month and you are fitting noise. Fit a year and a full year's accrual dominates the noise. Below r² 0.35 the fit is thrown out and a reference rate of – is shown instead.
Ondo USDY: a tokenized note backed by short-dated US Treasuries and bank demand deposits. It doesn't rebase. Its price rises as interest accrues, so the reserve compounds with no claiming.
Fixed per coin at launch. A coin's rules never change under its holders.