STBL、Ondo 和 USDY：彻底改变稳定币抵押品

STBL 与 Ondo Finance 合作，使用 USDY 作为抵押品，释放了 5000 万美元的铸币能力，并通过代币化储备开创了稳定币设计的新时代。

The world of stablecoins is evolving, and at the forefront of this evolution is the strategic partnership between STBL and Ondo Finance. This collaboration is all about bringing innovation to stablecoin collateral, specifically focusing on STBL, Ondo, and USDY.

稳定币世界正在不断发展，而处于这一发展前沿的是 STBL 和 Ondo Finance 之间的战略合作伙伴关系。此次合作旨在为稳定币抵押品带来创新，特别关注 STBL、Ondo 和 USDY。

USDY as Primary Collateral: A Game Changer

USDY 作为主要抵押品：游戏规则改变者

STBL.com, is joining forces with Ondo Finance, designating USDY, Ondo’s tokenized yield-bearing asset backed by short-term U.S. Treasuries and bank deposits, as primary collateral within STBL’s reserve structure, unlocking up to $50 million in USST minting capacity.

STBL.com 与 Ondo Finance 联手，将 Ondo 的由短期美国国债和银行存款支持的代币化收益资产 USDY 指定为 STBL 储备结构中的主要抵押品，释放高达 5000 万美元的 USST 铸币能力。

Dr. Avtar Sehra, Co-Founder and CEO of STBL, puts it best: "Stablecoin design has to catch up with reality: the world is moving to tokenized reserves." This partnership aims to create a multi-tier, overcollateralized framework that enables the use of institutional-grade assets on-chain.

STBL 联合创始人兼首席执行官 Avtar Sehra 博士说得最好：“稳定币设计必须赶上现实：世界正在转向代币化储备。”此次合作旨在创建一个多层、超额抵押的框架，使机构级资产能够在链上使用。

What Makes USDY Ideal?

是什么让 USDY 成为理想选择？

USDY brings several key ingredients to the table: quality collateral, clear governance, and strong controls. This allows USST to scale utility without sacrificing stability. USDY complements STBL’s architecture as a fully collateralized instrument that delivers dollar-denominated yield to eligible holders while preserving investor protections.

USDY 带来了几个关键要素：优质抵押品、明确的治理和强有力的控制。这使得 USST 能够在不牺牲稳定性的情况下扩展实用性。 USDY 作为一种完全抵押工具补充了 STBL 的架构，为合格持有者提供以美元计价的收益，同时保留投资者保护。

Reeve Collins, Co-Founder and Chairman of STBL, emphasizes that this partnership helps extend alignment into the heart of the reserves, making stablecoins true public-utility infrastructure for both crypto and traditional markets.

STBL 联合创始人兼董事长 Reeve Collins 强调，这种合作伙伴关系有助于将一致性扩展到储备的核心，使稳定币成为加密货币和传统市场真正的公用事业基础设施。

Ian De Bode, Chief Strategy Officer at Ondo Finance, highlights the excitement around USDY driving STBL’s growth with $50 million in reserve capacity, demonstrating how institutional-grade, tokenized yield-bearing reserves underpin the future of the digital asset ecosystem.

Ondo Finance 首席战略官 Ian De Bode 强调了 USDY 以 5000 万美元的储备能力推动 STBL 增长的兴奋，展示了机构级、代币化的收益储备如何支撑数字资产生态系统的未来。

STBL’s Innovative Reserve and Compliance Framework

STBL 的创新储备和合规框架

STBL’s framework separates principal and yield into two distinct instruments. USST functions as a fully backed, non-interest-bearing stablecoin for payments and on-chain collateral, while YLD carries the rights to yield from the underlying assets and is accessible only to eligible holders. This structure enables compliant yield distribution while maintaining USST’s role as a permissionless medium of exchange.

STBL 的框架将本金和收益率分为两种不同的工具。 USST 作为一种完全支持的、无息的稳定币，用于支付和链上抵押品，而 YLD 则拥有从基础资产中获取收益的权利，并且只有符合条件的持有者才能使用。这种结构可以实现合规的收益分配，同时保持 USST 作为无需许可的交换媒介的角色。

Looking Ahead

展望未来

Together, STBL and Ondo aim to demonstrate how yield-bearing tokenized assets can serve as compliant, transparent collateral for stablecoins across both DeFi and institutional markets.

STBL 和 Ondo 共同致力于展示具有收益的代币化资产如何作为 DeFi 和机构市场中稳定币的合规、透明的抵押品。

While STBL (the token) may have its ups and downs in the volatile crypto market, as seen with its recent dip, this partnership with Ondo signals a strong commitment to innovation and stability in the stablecoin space. So, keep an eye on STBL, Ondo, and USDY—they might just be the future of stablecoins, and who knows, maybe STBL token will rebound like ASTER did!

虽然 STBL（代币）在波动的加密市场中可能会出现起伏，从最近的下跌可以看出，与 Ondo 的合作表明了对稳定币领域创新和稳定性的坚定承诺。所以，请关注 STBL、Ondo 和 USDY——它们可能就是稳定币的未来，谁知道呢，也许 STBL 代币会像 ASTER 一样反弹！