CoinW Exchange to List Ondo Finance's ONDO Token

CoinW, a leading cryptocurrency trading platform, will list ONDO, the governance token of Ondo Finance, in its DEFI Zone. Starting August 2nd, 2024, at 12:00 (UTC), ONDO/USDT trading will be available for all CoinW users. To celebrate the listing, CoinW is launching the 'ONDO bounty program: Register & Trade & Retweet' event with a reward pool of 5,000 USDT.

Ondo Finance, which launched on January 8th this year, has shown remarkable growth, increasing its market cap from $250 million to $1 billion in just six months. The company is a pioneer in the Real-World Asset (RWA) sector, offering innovative financial products by tokenizing U.S. Treasury bonds. Supported by major institutions such as BlackRock and Morgan Stanley, and backed by venture capital firms like Founders Fund, Pantera Capital, and Coinbase Ventures, Ondo Finance aims to revolutionize Web3 investment banking.

The ONDO token serves as the governance token for Ondo DAO and Flux Finance, with a total supply of 10 billion tokens. These tokens are allocated as follows: 2% for community access sales, 52.1% for ecosystem growth, 33% for protocol development, and 12.9% for private sales. Ondo Finance's approach allows holders to earn the majority of the underlying asset's yield, providing an attractive alternative to stablecoins.

Ondo Finance has introduced two core products: USDY, targeting retail investors, and OUSG, aimed at accredited investors. These products tokenize real-world assets like U.S. Treasuries and money market funds, bringing them onto the blockchain. This approach has built a strong community base, with 193,000 followers on Twitter and 83,850 members on Telegram, primarily from Europe and the United States.

Since its inception, Ondo Finance has raised over $30 million through various funding rounds. This includes a $4 million seed round led by Pantera Capital in August 2021, a $20 million Series A led by Founders Fund and Pantera Capital in April 2022, and a $10 million public sale in July 2022, valuing the company at $535 million. Current on-chain data indicates a liquidity pool of $11 million and 55,748 token holders.

The 5,000 USDT prize pool will be available from August 2nd, 2024, at 12:00 to August 12th, 2024, at 16:00 (UTC). By participating in the registration, trading, and community events, CoinW users can share in the prize pool.

CoinW's decision to list ONDO and Ondo Finance's rapid growth underscore the increasing importance of blockchain technology in traditional finance sectors. This listing not only enhances the visibility and accessibility of ONDO but also signifies the broader acceptance and integration of decentralized finance protocols in the global financial ecosystem.