CoinW, a renowned cryptocurrency trading platform, has announced the listing of ONDO, the governance token of Ondo Finance, in its DEFI Zone. The ONDO/USDT trading pair will be available to CoinW users starting August 2, 2024, at 12:00 (UTC). To commemorate this listing, CoinW is launching the 'ONDO bounty program: Register & Trade & Retweet' event, featuring a reward pool of 5,000 USDT.
Ondo Finance, launched on January 8, 2024, has demonstrated significant growth, expanding its market cap from $250 million to $1 billion within just six months. As a leader in the Real-World Asset (RWA) sector, Ondo Finance is revolutionizing Web3 investment banking by tokenizing U.S. Treasury bonds. The project is supported by major institutions like BlackRock and Morgan Stanley, and backed by notable venture capital firms such as Founders Fund, Pantera Capital, and Coinbase Ventures. Utilizing blockchain technology, Ondo Finance offers low-risk, stable, and scalable financial products like U.S. Treasuries and money market funds to on-chain investors.
The ONDO token serves as the governance token for Ondo DAO and Flux Finance. With a total supply of 10 billion tokens, distribution is allocated as follows: 2% for community access sales, 52.1% for ecosystem growth, 33% for protocol development, and 12.9% for private sales. This distribution model allows token holders to earn the majority of the underlying asset's yield, providing an attractive alternative to traditional stablecoins.
Ondo Finance has introduced two core products: USDY, targeting retail investors, and OUSG, aimed at accredited investors. These products tokenize real-world assets such as U.S. Treasuries and money market funds, bringing them onto the blockchain. This innovative approach has helped build a robust community, with 193,000 followers on Twitter and 83,850 members on Telegram, primarily from Europe and the United States.
Since its inception, Ondo Finance has successfully raised over $30 million through various funding rounds. These include a $4 million seed round led by Pantera Capital in August 2021, a $20 million Series A led by Founders Fund and Pantera Capital in April 2022, and a $10 million public sale in July 2022, which valued the company at $535 million. Current on-chain data indicates a liquidity pool of $11 million and 55,748 token holders.
To celebrate the listing, a 5,000 USDT equivalent ONDO prize pool will be available from August 2, 2024, at 12:00 to August 12, 2024, at 16:00 (UTC). By participating in events such as registration, trading, and community activities, CoinW users will have the opportunity to share in this prize pool. For more information and to claim rewards, click here.
CoinW continues to uphold its commitment to security, transparency, and user-centric principles, making it one of the world's most secure crypto exchanges. The listing of ONDO not only enriches CoinW's diverse offering but also highlights the growing importance and potential of real-world asset tokenization in the decentralized finance landscape.
