Ondo is a blockchain project that stands at the intersection of decentralized finance (DeFi) and traditional financial products. The network targets popular assets – like exchange-traded funds (ETFs) and bonds – and brings them on-chain. This allows DeFi users to access TradFi instruments while leveraging the efficiency and speed of the blockchain.
Ondo users can trade tokenised versions of popular funds and securities on the platform’s exchange. One example of Ondo’s on-chain assets is USDY, an asset backed by short-term US Treasuries. Ecosystem assets can also generate yield through the lending platform Flux Finance.
Other popular tokenised assets include OUSG, which invests in BlackRock’s on-chain fund (BUIDL). Another example is OMMF, a blockchain-based host for US Government money market funds.
Ondo’s native token, ONDO, acts as a governance token within the blockchain’s DAO, allowing holders to dictate the future direction of Ondo and its ecosystem.