Key Highlights
- Ondo Finance launched Ondo Perps for early-access users on July 7, 2026.
- The platform offers 24/7 perpetual futures trading with up to 20x leverage.
- Users can post tokenized stocks as collateral, a first for perpetual futures trading.
Ondo Finance, a decentralized finance (DeFi) platform, has launched Ondo Perps, a platform for trading perpetual futures on equities, commodities, and related assets, with early-access users gaining full access starting July 7, 2026.
In an X post on Tuesday, Ondo announced that the platform offers up to 20x leverage and uses tokenized stocks as collateral. It is currently available to pre-alpha users, with access limited to users outside the United States, Panama, and other restricted jurisdictions.
Supported perpetual contracts on Ondo
The platform supports perpetual contracts on a range of assets, including oil, gold, silver, US 100, US 500, and tokenized versions of major company stocks such as Intel, AMD, Meta, Tesla, Apple, Nvidia, Oracle, Netflix, Micron, SpaceX, Palantir, Amazon, Alphabet, Coinbase, Microsoft, and Robinhood.
Additional listings cover DRAM and Circle-related instruments. All contracts are available for permissionless trading 24 hours a day, 365 days a year, without expiry dates.
Ondo Perps claims to be the first platform to enable tokenized stocks as collateral for perpetual futures trading. The system aims to provide liquidity and capital efficiency comparable to traditional derivatives exchanges, allowing traders to manage larger positions and implement various strategies within a single venue.
Traders outside permitted regions can now access these markets continuously. However, users must comply with applicable local regulations, as the service is not available in all locations.
Early users get rewards
To encourage participation, Ondo Perps has introduced several reward mechanisms. A referral program and activity-based trading rewards are currently active, while an additional $150,000 in USDC has been allocated for the first week’s trading activity. A new Ondo Points program for perpetual traders is also planned.
Reward distribution scales with trading volume, though specific eligibility criteria and terms apply. Participants are advised to review the platform’s documentation for full details.
Perpetual futures are widely used in cryptocurrency markets, allowing traders to speculate on price movements without owning the underlying asset. These contracts typically use funding rates to keep contract prices aligned with spot markets. While offering high leverage can amplify gains, it also increases the risk of significant losses, including liquidation.
Ondo keeps expanding RWAs
The development comes just a day after Ondo Finance announced partnering with RWA Global Inc., a blockchain technology and consultancy firm, to expand global reach for its tokenized real-world assets (RWAs). Under the integration, all eligible Ondo Finance tokenized assets will be listed on stocks.rwa.inc, forming one of the largest discovery platforms for institutional-grade RWAs.
The collaboration is intended to improve the visibility and accessibility of Ondo’s tokenized offerings, which represent traditional financial instruments on blockchain. It also reflects broader industry efforts to expand access to tokenized real-world assets and bridge traditional finance with decentralized markets.
Risks are still part of the picture
The introduction of tokenized stock collateral represents a technical development in decentralized finance (DeFi). It may improve capital efficiency by allowing holders of tokenized assets to trade without converting to stablecoins or other base currencies first. Nevertheless, such innovations carry risks related to smart contract security, oracle reliability for price feeds, and overall market liquidity during periods of volatility.
Regulatory scrutiny of tokenized assets and derivatives remains a factor. Platforms operating in this area must navigate complex compliance requirements across jurisdictions. Ondo Perps’ restriction to non-U.S. users highlights the ongoing challenges of offering these products globally.
As with other DeFi protocols, actual trading volumes, liquidity depth, and user adoption will determine the platform’s operational success. Early-stage launches often face technical adjustments and varying levels of participation.
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