Sei Network becomes primary home for Ondo's USDY, hosting over 90% of supply
AI Market Summary
Sei Network claims it now hosts over 90% of Ondo's tokenized treasury asset USDY, with roughly $259M reportedly on SEI. If accurate, this signals strong distribution and liquidity concentration for a real-world-asset product on Sei, potentially improving on-chain activity, fee generation, and ecosystem credibility. The news is primarily supportive for SEI given the implied market share capture versus competing chains.
Impact level
● Medium
Affected assets
SEI/USDT+0.72%
AI Insight · SEI/USDTAI Insight
▲ Bullish
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Sei Network has emerged as the main network for Ondo's treasury token, $USDY. According to @SeiNetwork, more than 90% of @Ondo's flagship token is now issued on the chain. The post said about $259M worth of $USDY is currently held on $SEI.
