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| Ticker | Price | |||||
|---|---|---|---|---|---|---|
| SNDKUSD | $1,383.1 0.28% | 0.065% | $952.13K | $1.71M | $13.67M | +0.0006% |
| SKHYUSD | $141.72 1.54% | 0.028% | $489.65K | $279.47K | $10.61M | +0.0006% |
| NBISUSD | $173.62 1.19% | 0.106% | $237.61K | $591.2K | $8.02M | +0.0006% |
| MUUSD | $917 0.14% | 0.048% | $4.03M | $2.76M | $7.54M | +0.0006% |
| SPCXUSD | $148 1.18% | 0.047% | $3.98M | $3.67M | $6.27M | +0.0006% |
| NVDAUSD | $218.13 0.25% | 0.018% | $691.34K | $1.17M | $5.92M | +0.0006% |
| AAPLUSD | $340.68 0.95% | 0.008% | $552.2K | $1.37M | $5.51M | +0.0006% |
| CBRSUSD | $125.54 1.43% | 0.131% | $210.42K | $150.82K | $5.18M | +0.0006% |
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About Ondo Perps
Ondo Perps is a decentralized perpetual futures platform launched by Ondo, entering public beta in July 2026. It allows non-U.S. users to trade perpetual contracts on oil, gold, silver, and U.S. equities/indexes such as Apple and Nvidia with up to 20x leverage and 24/7 access. It accepts tokenized stocks issued via Ondo Stocks (initially SPYon and QQQon) alongside stablecoins as collateral.
Its core narrative is solving shallow liquidity and fragmented collateral in RWA perp venues. Traditional market makers must post stablecoins onchain while maintaining separate inventory and hedges at brokerages, duplicating capital. Ondo Perps integrates tokenized securities directly into the collateral system, allowing market makers to quote based on real depth in traditional markets without fully pre-funding in stablecoins, improving capital efficiency and tightening spreads. Spot and perp positions coexist on the same platform, simplifying hedging and funding-rate arbitrage.
Recent six-month progress: public beta launched July 7; trading volume exceeded $100M in 24 hours and $2B in 48 hours. It then enabled tokenized-stock collateral for all users, with cumulative volume surpassing $3.8B and liquidity close to Trade.xyz on Hyperliquid. The platform also uses weekend perp prices to help form an internal reference price with a ~10% band to limit manipulation.
Important progress: On July 7, 2026, Ondo Perps officially launched, becoming the first perpetual futures platform using tokenized stocks and ETFs as collateral, offering 24/7 trading on US stocks, indices, and commodities like gold and oil, with up to 20x leverage. In the same period, the Ondo Network execution layer was released, providing high-speed, private, verifiable, and non-custodial underlying infrastructure for trading platforms. Its tokenized equity infrastructure Ondo Global Markets has surpassed $1 billion TVL, growing ~5% weekly.
Future development focus: Ondo Network plans to expand its validator set, decouple roles, settle state on-chain, introduce external watchers and cryptographic proofs, and develop selective privacy and proof-of-stake security models. By building an on-chain prime brokerage system, it aims to deeply integrate tokenized assets with perpetual contracts, further improving capital efficiency and expanding decentralized derivatives markets.
David Wells - CEO. Previously founded Enclave Markets, a fully encrypted exchange. Held roles at Two Sigma (VP of Strategy & Product Development) and Paxos (General Manager).