NLY

BondsLive

Tokenized Annaly Capital MBS

Tokenized Annaly Capital MBS, fixed-income exposure with coupons reinvested to NAV.

See NLY on /markets →Underlying ticker: NLY

Key facts

On-chain symbol
NLY
Underlying
NLY
Asset class
Bonds
Custody
Held at Flo Finance
Chains
Base, Arbitrum, Ethereum
Distribution treatment
Coupon reinvested to NAV
Attestation cadence
Daily
Issuer
Flo Finance
Backing
1:1 backed by the real underlying

How NLY resolves to NLY

Each NLY on-chain represents a 1:1 claim on the underlying Annaly Capital MBS held at an institutional custodian. The issuer and backing model are the same for every Flo token; only the underlying differs.

  1. 01

    Issuance

    Flo Finance issues NLY as a tokenized Annaly Capital MBS, 1:1 backed by the real underlying.

  2. 02

    Custody

    The underlying Annaly Capital MBS is held at Flo Finance, an institutional custodian.

  3. 03

    Settlement

    NLY settles on-chain on Base, Arbitrum, Ethereum. Cross-chain transfers route through Chainlink CCIP.

  4. 04

    Attestation

    Reserves are attested daily by an independent auditor and published on the Flo transparency surface.

Mint NLY with one SDK call

Every Flo-issued token shares the same six SDK methods. Mint, redeem, supply, withdraw, borrow, repay.

POST /v1/mint

{
  "asset": "NLY",
  "notional_usdc": "1000.00",
  "slippage_bps": 50,
  "settlement": {
    "currency": "USDC",
    "chain": "base"
  }
}

Where NLY lives today

Flo distributes through partners. The same NLY on-chain is the asset every partner integrates against; partner UIs may relabel it for their own brand.

Partner integrations in build

No live partner is distributing NLY yet. Twelve integrations are in build across exchanges, wallets, fintechs, neobanks, and asset managers. Partners are listed here only after they ship.

Audits

Four independent firms, $250K bug bounty

Sherlock, Halborn, Cantina, and Cyfrin have audited the smart contracts that issue and settle NLY. The same contracts power every Flo-issued token; one audit covers the catalogue.

Read the audit reports →

Backing

1:1 backed by the real underlying

NLY is issued by Flo Finance and 1:1 backed by real Annaly Capital MBS held at institutional custodians. Reserves are attested daily and published on the Flo transparency surface.

Open the transparency page →

Risks

NLY carries the market risk of the underlying Annaly Capital MBS, plus the structural risks common to every tokenized asset: custody concentration, smart-contract risk, and oracle dependency. Read the full risk disclosures on the Flo transparency surface before integrating or holding.