USD0 vs USDY — Side by Side
| Feature | USD0 | USDY |
|---|---|---|
| Backing | RWA-Backed | RWA-Backed |
| Issuer | Usual Protocol | Ondo Finance |
| Launched | 2024 | 2023 |
| Chains | 2 | 6 |
When to Use Each
USD0
- +Revenue sharing model: stakers receive Treasury yield instead of issuer pocketing it
- +RWA backing through USYC provides institutional-grade Treasury bill exposure
- +USUAL governance token aligns protocol growth with user incentives
USDY
- +Real Treasury backing — yield is from actual T-bills, not funding rates or algorithm
- +Daily yield accrual built into token price — passive income without staking or vaults
- +Multi-chain deployment across 6 networks gives DeFi composability