Ondo launches tokenized perpetual futures for US stocks
Ondo Finance launched Ondo Perps, an on-chain perpetual futures platform for tokenized U.S. stocks, ETFs and commodities that offers eligible non-U.S. traders up to 20x leverage and 24/7 trading. The protocol allows tokenized equities and ETFs to be used directly as collateral, supports corporate actions and cross-margining, and cites over $2.5 billion of funds on its protocol as prior tokenization experience. Ondo joins Kraken and Coinbase in a growing market for tokenized equity perpetuals, and early metrics such as volume, open interest and funding-rate stability will determine whether it can build meaningful liquidity.
Ondo allows tokenized equity perpetuals with up to 20x leverage
Context
Kraken and Coinbase launched similar perpetual equity products earlier this year. Ondo presented Ondo Perps at a February summit and began trading today. Market metrics will show whether liquidity develops and more assets are added.
The full analysis
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