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The cryptocurrency exchange OKX announced a new opportunity for its users by listing the Ondo (ONDO) token on its spot trading market. The news of the ONDO listing led to a significant price increase.
ONDO Listing Completed
OKX users started depositing ONDO tokens on the exchange on July 29, 2024, at 10:00 AM (TSI). Spot trading with the ONDO/USDT pair became active today at 11:00 AM (TSI). Users can now buy and sell ONDO on OKX. Withdrawal transactions for the ONDO token will begin on July 30, 2024, at 1:00 PM (TSI).
The price of the altcoin rose by over 8% in the last 24 hours due to the listing and Bitcoin’s (BTC) recovery. At the time of writing, it is trading above the $1 threshold at $1.04.
What is Ondo Finance?
Ondo Finance is an innovative protocol aimed at increasing liquidity, accessibility, and efficiency in financial markets by tokenizing real-world assets (RWA). Ondo Finance offers notable assets such as the OUSG Fund and USDY.
The OUSG Fund is a tokenized version of BlackRock’s iShares Short Treasury Bond ETF, providing liquid access to short-term US Treasury bonds. USDY is designed as an interest-bearing stablecoin backed by short-term US Treasury bonds and bank deposits, aiming to offer returns to its holders.
Ondo’s total supply is set at 10 billion units, with the contract address being 0xfAbA6f8e4a5E8Ab82F62fe7C39859FA577269BE3. This new listing expands Ondo Finance’s vision while providing investors with access to innovative financial instruments based on real-world assets.
