The official announcement stated that the total locked value of the Sui network exceeded US$500 million in nine months, and this month it received further support from the new stablecoin alternative USDY. As a stablecoin alternative, USDY's value is anchored one-to-one with the U.S. dollar while earning earnings for its owners, which the current formulation also adds to the token's price. Ondo Finance, the issuer of the USDY stablecoin, is backed by short-term U.S. Treasury bonds and bank demand deposits. The name of the currency represents the US Dollar Yield, symbolizing its income characteristics. In the past six months, data analytics site Wormholescan shows that more than $300 million in assets have been bridged from Ethereum to Sui, accounting for 64% of all tokens bridged from Ethereum through Wormhole.