USDY 并非传统稳定币，而是由短期美国国债和类现金资产支持的 tokenized secured note。其经济结构取决于 USDY 累积赎回价值、rUSDY 与 mUSD 的 rebasing 分配，以及 OndoIDRegistry 和 blocklist 的资格控制。
Investment View
USDY 是收益型 RWA 代币，应结合赎回价值累积、rUSDY 与 mUSD rebasing、OndoIDRegistry 控制来评估。
YouTube paid members only
This report slide deck is available only to paid members of the BCELAB YouTube channel. Join the channel on YouTube, then verify your membership here to view the slides.
Report Type
Crypto Economy Analysis
Version
v1
Analysis Date
2026年7月19日
Language
zh
Disclaimer: This report is generated through AI-powered analysis and market data. This is not investment advice. All investment decisions should be made at your own risk.