Hassan Maishera
On Wednesday, the Ondo Finance team announced via X that tokenized gold and silver collateral is now live on Ondo Perps.
In a landmark first, tokenized gold and silver can now serve as productive collateral for perpetual futures positions.
This unlocks the basis trade, holding spot & shorting the perp to capture funding when rates are positive, for two more of the world’s most traded assets on Ondo Perps, alongside SPYon & QQQon.
Tokenized stock collateral means traders no longer need to park capital in stablecoins or sell an asset to gain exposure elsewhere. This is all part of Ondo’s productive capital thesis that brings capital efficiency and ultimately liquidity for equity perps on par with traditional derivatives markets.
Ondo (ONDO) stands as a beacon in the realm of decentralized finance, aiming to democratize access to institutional-grade financial services. Founded in 2022 and based in the Cayman Islands, Ondo operates through a unique ecosystem that bridges traditional finance with blockchain technology.
The Ondo Foundation collaborates closely with Ondo Finance, its commercial partner, to support decentralized protocols and the tokenization of real-world assets.
The ONDO token, sold to over 18,000 individuals in mid-2022, plays a pivotal role within this ecosystem. It serves as a governance token within the Ondo Finance decentralized autonomous organization (DAO), granting holders specific rights related to Flux Finance, which is governed by the Ondo DAO. This governance structure empowers ONDO token holders to influence the direction and policies of the DAO, ensuring that the mission of democratizing finance remains at the forefront.
Flux Finance, a key component of the Ondo ecosystem, benefits from the oversight and governance provided by ONDO token holders. This decentralized approach ensures that decisions are made transparently and in the best interest of the community. The Ondo Foundation's commitment to supporting decentralized protocols and tokenized assets further solidifies its role as a transformative force in the financial landscape.
ONDO, the native coin of Ondo Finance, is down 2% in the last 24 hours and is now trading at $0.3740.
