Ondo Finance (ONDO)

Ondo Finance is a decentralized investment bank, offering structured products such as tranched liquidity provision vaults, and in conjunction with Fei Protocol, liquidity-as-a-service (LAAS) solutions for DAOs wishing to rent their liquidity.

Basics

• Based in:
• Started in / Announced on: 2021
• Testnet release:
• Mainnet release:

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Launch

• Ondo Finance has raised $10 million in a token sale via CoinList. Around 2% of ONDO's total supply was offloaded through the sale, Nathan Allman, co-founder and CEO of Ondo Finance, told The Block (6-7-2022).

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on:
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From The Block (6-7-2022):

"The products, known as "vaults," offer fixed and variable yields. Depositors in fixed yield vaults receive a fixed percentage of yield over their initial investment. Depositors in variable yield vaults receive all excess returns after the fixed yield vaults receive their payout."

Their Other Projects

Flux Finance

• Flux is a fork of Compound V2. From The Defiant (14-2-2023):

"Ondo also developed Flux, though the lending protocol is technically decentralized and governed by holders of ONDO tokens. Flux Finance, a lending protocol that went live on Feb. 8, has attracted nearly $11M worth of U.S. dollar-pegged DAI and USDC stablecoins in the five days since. The protocol has likely managed to pull in a significant amount of capital because it allows Ethereum DeFi users to permissionlessly lend their stablecoins to borrowers using tokenized ETFs representing U.S. treasuries as collateral.

The OUSG tokenized ETF was launched last month by Ondo Finance and is only accessible to qualified purchasers who have gone through know-your-customer (KYC) and anti-money laundering (AML) procedures. OUSG holders can leverage their positions in US Treasuries by borrowing and then selling their DAI or USDC for more OUSG, which can then be deposited again in Flux. The process can be further repeated to build a highly leveraged position and maximize users’ yields."

Roadmap

• Can be found [Insert link here].

Team, Funding and Partners

Team

• Full team can be found [here].
• Nathan Allman; co-founder
• Ondo was founded by Allman and Pinku Surana — two former Goldman Sachs employees

Funding

• Ondo Finance has raised $10 million in a token sale via CoinList (6-7-2022).
• Had a $20 million Series A led by Peter Thiel's Founders Fund (27-4-2022).

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