Ondo Finance Launches 'Ondo Perps' RWA Perpetual Futures Platform

Ondo Finance, the real-world asset tokenization project behind ONDO, has launched Ondo Perps, a perpetual futures platform that allows users to use tokenized stocks as collateral.

Ondo Perps announced on its official X account on July 7 that the service had gone live for early users.

The platform offers up to 20x leverage with tokenized stocks as collateral. Available underlying assets include individual stocks such as Apple, Nvidia, Microsoft, Tesla, Meta, Amazon, Coinbase, Strategy and SpaceX, as well as gold, silver, crude oil, the S&P 500 and the Nasdaq. It is designed for 24/7 perpetual futures trading.

Ondo Perps described itself as the first perpetual futures platform to let users post tokenized stocks as collateral. It said the platform was built to provide liquidity and capital efficiency on par with existing derivatives exchanges, allowing institutional investors to execute large trades and deploy a range of investment strategies.

The platform is also launching a rewards program of up to $3 million. During the first week, it will distribute a total of $150,000 in USDC based on trading volume, with an Ondo Points rewards program to be added later.