Ondo Finance has formally launched early entry to Ondo Perps, a perpetual futures platform providing as much as 20x leverage on main U.S. equities, ETFs, and commodities. The rollout, introduced on March 27, makes Ondo the primary protocol to convey capital-efficient fairness perps on-chain.
The launch comes at a second when Ondo’s complete worth locked is approaching $3 billion. It is a direct extension of the infrastructure Ondo has spent the previous yr constructing throughout tokenized Treasuries and equities.
What Can Merchants Entry on Ondo Perps?
Eligible early-access customers can now commerce perpetual futures on 16 U.S. shares and three commodities:
- Shares: AAPL, AMD, AMZN, COIN, CRCL, GOOGL, HOOD, INTC, META, MSFT, MSTR, NFLX, NVDA, ORCL, PLTR, TSLA
- Commodities: Gold, silver, and oil
All markets can be found 24/7, that means merchants can take positions on names like $NVDA or $TSLA exterior of conventional market hours. Leverage goes as much as 20x.
Early-access codes are being despatched to waitlisted customers this week. The platform is out there to non-U.S. customers solely as a consequence of regulatory concerns.
How Is This Totally different From Present Crypto Perps?
Perpetual futures are nothing new in crypto. The market generated roughly $86 trillion in derivatives quantity in 2025 alone. However present perps platforms have principally caught to crypto-native belongings and depend on stablecoins as the only type of collateral.
Ondo Perps takes a special strategy. It accepts tokenized securities as collateral, not simply stablecoins. Which means a dealer holding tokenized AAPL or GOOGL by way of Ondo International Markets can use these positions as margin for leveraged trades with out promoting them first.
Ondo constructed the underlying know-how. The Ondo Perps platform operates the buying and selling expertise on prime of that infrastructure, pulling spot asset liquidity from conventional exchanges by way of Ondo International Markets. The result’s deeper liquidity and extra environment friendly use of capital than what remoted on-chain order books can supply.
The place Does Ondo Stand Proper Now?
The perps launch lands in the course of an aggressive progress part for Ondo Finance throughout the board.
Protocol-wide TVL is nearing the $3 billion mark, up from roughly $1 billion earlier in 2025. That capital is unfold throughout a number of chains, with Ethereum holding the most important share at round $1.69 billion, adopted by Solana, BNB Chain, Plume, XRPL, Stellar, and Aptos.
Ondo International Markets, the tokenized shares and ETFs arm, has surpassed $700 million in TVL and instructions over 60% market share within the tokenized equities sector. The broader tokenized shares market itself simply crossed $1 billion in complete worth.
On the income facet, Ondo’s 30-day protocol charges sit round $4 million, placing annualized income close to $49 million in keeping with DefiLlama information.
The protocol additionally landed a significant partnership with Franklin Templeton final week. 5 Franklin Templeton ETFs have now been tokenized on Ondo International Markets, bringing a $1.7 trillion asset supervisor into the on-chain fold.
The $ONDO token trades round $0.27 with every day quantity close to $60 million.
What Does This Imply for On-Chain Fairness Buying and selling?
Ondo Perps is the clearest signal but that tokenized real-world belongings are shifting past passive yield merchandise and into energetic buying and selling infrastructure. Till now, most RWA protocols targeted on issuance. Maintain a tokenized Treasury, earn yield, and that was it. Perps add a derivatives layer on prime.
Ondo’s president Ian De Bode has described the broader technique as constructing an on-chain prime brokerage. The imaginative and prescient is a single interface the place customers can maintain, commerce, lend, and leverage tokenized conventional belongings alongside crypto. Perps are step one towards that.
For now, the platform is in early entry and restricted to non-U.S. customers. A full public rollout is predicted within the coming weeks.
Sources:
- Ondo Finance Official announcement of Ondo Perps early entry launch on X, March 27, 2026
- DefiLlama Ondo Finance protocol information together with TVL, chain breakdown, and charge metrics
- TheStreet Protection of Ondo Perps unveiling on the Ondo Summit, February 3, 2026
- Yahoo Finance Interview with Ondo President Ian De Bode on the on-chain prime brokerage technique
- BanklessTimes Reporting on the Franklin Templeton ETF tokenization partnership and protocol metrics
