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Pat_Kras
@solofunk
Ondo Finance = TradFi meets Crypto Since raising $24 million in rounds led by Pantera Capital, Ondo has trailblazed RWA tokenization and developed the Flux Finance protocol, which uses the ONDO token. Blackrock's recent BUIDL token launch led to a re-pricing of the RWA sector, and Ondo has taken center stage 🧵
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Pat_Kras
@solofunk
There are over $400 trillion in real-world assets. Just over $1 billion is represented onchain today. Ondo aims to change this paradigm and make institutional-grade financial products and services available to everyone. Today, they offer three tokens collateralized by RWAs:
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Pat_Kras
@solofunk
USDY Collateralized largely by short-term US treasuries through Morgan Stanley and StoneX. USDY increases in value as yield is generated through its treasury collateral. TVL = $127M Yield = 5.10% Native support = Ethereum, Mantle, Solana, Sui, with Aptos coming soon
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Pat_Kras
@solofunk
OUSG Collateralized largely by BlackRock's ERC-20 BUIDL token on Ethereum. OUSG increases in value as yield is generated through its treasury collateral. TVL = $95 million Yield = 4.96% Native support = Ethereum, Polygon, and Solana
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Pat_Kras
@solofunk
OMMF Ondo Money Market Fund (OMMF) is not live on any network. Still, OMMF is planned to be a rebasing token whereby tokenholders accrue additional OMMF tokens as they earn yield through money market fund collateral provided by a BlackRock ETF.
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Pat_Kras
@solofunk
But Ondo isn’t just a centralized issuer of RWA tokens. Ondo has a suite of onchain protocols too. Namely, Flux Finance. Flux Finance is a lending protocol on Ethereum that allows OUSG to be used as collateral to borrow stablecoins (USDC, USDT, DAI, and FRAX).
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Pat_Kras
@solofunk
Users can lend stablecoins to earn yield from the OUSG depositors that borrow them. Similar to LP tokens, users receive fTokens representing deposited or borrowed assets. fTokens can be used in protocols like Reserve Protocol and CoW Swap, or redeemed for the underlying assets.
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