ONDO Perps hits $7B in volume weeks after launch

Ondo Perps, the perpetual futures arm of tokenized asset protocol Ondo Finance, has racked up over $7 billion in cumulative trading volume roughly one month after its launch. The platform went into early access on June 9 and opened broader access on July 7. The platform lets traders take leveraged positions, up to 20x, on perpetual contracts tied to tokenized US equities, ETFs, and commodities, tradeable around the clock on-chain. The numbers behind the surge DefiLlama data pegs cumulative perps volume at approximately $6.83 billion as of recent tracking, with the total crossing $7 billion shortly after. Daily trading volumes have hit north of $300 million during peak sessions. Open interest on the platform has held steady in the $67 million to $72 million range. Part of what’s fueling the momentum is a collateral innovation that sets Ondo Perps apart from most derivatives venues. Traders can post tokenized stocks and stablecoins as margin collateral. That means someone holding tokenized Apple shares doesn’t need to sell them to fund a leveraged trade. How Ondo built the flywheel Ondo Finance has spent the last couple of years positioning itself as infrastructure for bringing tradi...