In this article, Bitkub Blog will introduce readers to Ondo Finance, or the ONDO token, another promising DeFi project worth paying attention to. Let’s see what interesting features this project has.
What is Ondo?
Ondo Finance provides a financial platform that connects investors to the US Treasury market in an on-chain manner, aiming to facilitate easier exchange between stablecoins and Treasury bonds through blockchain technology.
Ondo has a perspective that bringing Real-world Assets (RWAs) into the DeFi system will be a significant turning point that enhances stability and credibility in the industry. Moreover, adding assets in the RWA category may attract investors familiar with traditional assets to participate more in the digital asset space, thereby accelerating the growth of the digital asset sector significantly.
What is the ONDO token?
The ONDO token is an ERC-20 standard token that serves as the governance token for the Ondo Finance platform. ONDO has a maximum total supply of 10,000,000,000 tokens, distributed as follows:
Public sale on Coinlist Option 1: 4%
Public sale on Coinlist Option 2: 1%
Series A fundraising: 10%
Seed round fundraising: 3%
DAO: 82%
Highlights of ONDO
Ondo Finance offers funds that allow investors to deposit capital to generate returns according to their risk tolerance levels, divided into 3 funds as follows:
- Ondo US Short-Term Government Bond Fund (OUSG): This fund invests in short-term US government bonds, making it suitable for investors seeking low-risk investments with high liquidity.
- Ondo Short-Term Investment Grade Bond Fund (OSTB): This fund invests in short-term corporate bonds, suitable for investors looking for higher returns while still maintaining relatively low risk.
- Ondo High Yield Corporate Bond Fund (OHYG): This fund invests in high-yield corporate bonds, suitable for investors willing to take on higher levels of risk in exchange for potentially higher returns.
ONDO Developers:
Ondo Finance is the result of collaboration between experts in both the DeFi and traditional asset sectors. It was founded and is led by Nathan Allman, who previously worked at Goldman Sachs in the Global Markets Division.
Additionally, Ondo Finance has raised up to $46 million in funding, with $4 million from the Seed round, attracting major investors such as Pantera Capital, DCG, and CMS Holdings. In the Series A round, they were able to raise $20 million with Pantera Capital, Coinbase Ventures, and Wintermute participating in the fundraising.
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