Ondo Finance said it will stop minting USDY on the Aptos and Noble networks starting Sept. 8, while USDY on other supported networks will remain unaffected. The change also reaches holders on Osmosis and Mantra because USDY on those networks is bridged from Noble through IBC. According to the announcement, USDY will remain fully backed throughout the process, and all affected holders will have either a migration route or an exit option. Holders with 1,000 USDY or more can bridge to another supported network or redeem directly with Ondo at net asset value, with that window open until Sept. 8, 2027. Holders with less than 1,000 USDY can exit through third-party open-market liquidity during a 90-day transition period that runs until Dec. 7, 2026. For users on Osmosis and Mantra, Ondo said they can first bridge their USDY back to Noble through IBC and then follow the same rules, or exit directly on Osmosis through third-party liquidity.
Ondo Finance said it will stop minting USDY on the Aptos and Noble networks starting Sept. 8. USDY on other supported networks will not be affected.
The move also affects holders on Osmosis and Mantra, because USDY on those networks is bridged from Noble through Inter-Blockchain Communication, or IBC. Ondo said USDY will remain fully backed by reserves throughout the process, and all affected holders will have a full migration or exit path.
Options for holders based on position size
Holders with 1,000 USDY or more can bridge to another supported network or redeem directly with Ondo at net asset value. That window will remain open until Sept. 8, 2027.
Holders with less than 1,000 USDY can exit through third-party open-market liquidity. The transition period is 90 days and runs until Dec. 7, 2026.
How Osmosis and Mantra holders can proceed
Users holding USDY on Osmosis or Mantra can first bridge the asset back to Noble through IBC and then proceed under the same rules. They can also exit directly on Osmosis through third-party liquidity.
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