- Ondo Perps has announced its arrival, becoming the first platform to enable on-chain perpetual futures trading on tokenized U.S. stocks and commodities.
- Users will be able to trade perpetuals with up to 20x leverage.
- On Ondo Perps, users will be able to use their Ondo tokenized stock holdings directly as collateral, opening the door for efficient leveraged trading without selling their existing positions.
On July 7, Ondo Finance officially announced the launch of Ondo Perps in public beta with an impressive leverage of 20x on equity perpetuals.
The platform will open a door for non-U.S. users to trade perpetual futures on leading U.S. stocks, ETFs, and commodities at any time.
This launch comes at a time of growing excitement around real-world assets and tokenized securities. Ondo Perps is claimed to be the first platform to allow tokenized stocks as collateral for trading perpetual futures. This feature will allow users to maximize their holdings without selling them. For example, someone holding tokenized Tesla shares can use them directly as margin to open a leveraged position on Nvidia or an S&P 500 ETF, which will allow users to keep their portfolio efficient and fully utilized.
“Ondo Perps is the first platform to allow tokenized stocks as collateral, available now for Pre-Alpha users. RWA perps can now trade on a platform built to deliver liquidity and capital efficiency on par with traditional derivatives exchanges,” stated in the post on X.
What Are Perpetual Futures on Ondo Perps?
Perpetual futures (perps) are derivative contracts that allow traders to speculate on an asset’s price direction without owning it and without an expiration date. In perpetual futures, traders can hold positions for an indefinite period of time, with funding rates helping keep the contract price linked with the underlying asset.
On Ondo Perps, their contracts are targeting tokenized versions of real-world equities and commodities. It also comes with traditional leveraged trading mechanics into crypto’s always-on environment.
The launch of Ondo Perps is coming after the success of Ondo Global Markets, which has tokenized more than 430 U.S. stocks and ETFs across chains like Ethereum, Solana, and BNB Chain. These tokens are backed by actual underlying securities, which are held with regulated custodians. It tracks total returns, including dividends.
In the announcement of the launch, Ondo Perps will include popular names like Tesla, Apple, Nvidia, SpaceX, the US 100, the US 500, along with commodities like Oil.
Ondo Perps also revealed that users will be able to earn rewards on the new platform. The platform will provide weekly USDC incentives based on trading activity, with early reward pools like $150,000 in USDC in the first week.
The post stated that “There are multiple ways to earn rewards, starting with a referral program and trading rewards distributed based on trading activity. In addition, a new Ondo Points program for perps traders is coming soon.”
Perpetual Market Grows with Regulatory Clarity
Ondo Perps launched right after some major developments from the U.S. regulatory agencies. On May 29, the Commodity Futures Trading Commission (CFTC) approved the first government-regulated Bitcoin perpetual futures contract in the U.S., which is offered by Kalshi. On that same day, the CFTC also gave approval to Coinbase to offer perpetual futures to U.S. customers through an offshore partner.
While those approvals apply to crypto products for U.S. investors, Ondo Perps is different as it offers perpetual futures on stocks, but only for traders outside the U.S., since these products are not allowed for everyday American investors.
Amid the growing regulatory clarity around the tokenized asset sector, the perpetual market is expected to boom in the near term due to growing interest from institutional investors.
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