Decentralized Investment Banking
Content on this page was provided by the Ondo team
The Ondo Finance Protocol (“Ondo”) is an open and decentralized investment bank. Ondo enables and facilitates connections between various stakeholders in the emerging DeFi ecosystem — including DAOs, institutional and retail.
Ondo is based upon three core principles:
Building a Decentralized Investment Bank
Ondo was built on the belief that customized financial products and services should be available to all. Traditional investment banking is highly manual, expensive, and reliant on gatekeeping intermediaries. DeFi makes it possible for financial services to be offered at almost no cost to the incremental user. Instead of relying on intermediaries and complex legal documents, we can rely on smart contract code to automate the performance of financial agreements.
By leveraging the power of DeFi, Ondo can:
- Leader in Facilitating DEX Liquidity: Ondo is a pioneer in the liquidity-as-a-service space with live partnerships with 10+ DAOs as well as commitments from four stablecoin issuers (FEI, FRAX, UST, and RAI) for $100m+ in new liquidity and related incentives. By matching DAOs (capital demand) with underwriters (capital supply) to provide liquidity for their native token, users can easily trade these tokens in decentralized exchanges.
Ondo started out by building a novel DeFi primitive for structured products, which offer choice between downside protection and enhanced returns. Ondo then expanded to new use cases like liquidity-as-a-service.
Ondo will also focus on expanding into new sources of capital demand, such as algorithmic stablecoins and real-world uncollateralized loans, and into new sources of capital supply, such as retail users through crypto exchanges and Web2 fintechs.
Eligible CoinList users may register to purchase ONDO tokens (via the execution of a token sale agreement with the associated terms and conditions) under the option below. This sale is not available to U.S. persons or persons acting on behalf of U.S. persons.
| Ondo Token Sale Details | |
| Sale Date | May 12, 2022 at 17:00 UTC |
| Lock up/Release | 12-month lock-up from June 1, 2022 with a 6-month release period thereafter (plus a global lockup that can be released by DAO vote as explained below) |
| Token Price | $0.055 |
| Purchase Limits |
$100.00 min
$20,000.00 max |
| Token Allocation for Sale | 400,000,000 tokens |
| % of Total Supply | 4%* |
| Funding Methods | USDT, USDC, ETH, BTC, ALGO, SOL |
| Excluded Participants | Excluded participants include residents of the US, Canada, China, Republic of Korea, and CoinList’s unsupported jurisdictions |
| Sale FAQ | FAQ |
*An additional 2% of supply may be unlocked during the sale period at the discretion of Ondo.
Access to a private option at a price of $0.03 will be given to long term supporters of Ondo as well as CoinList users with a high threshold of Karma points. This option does not affect the number of tokens available to other participants through the main token sale.
Ondo is owned by Neptune Development Foundation, a Cayman Islands foundation company, and the ultimate parent company of Nami Industries Limited, the seller and distributor of ONDO tokens.
In keeping with Ondo’s mission to democratize access to sophisticated financial services, the ONDO token and related DAO are being launched to hand over control of Ondo to its users.
The Ondo DAO will constitute a decentralized governance and incentive system to enable those who bring value to Ondo to also be rewarded for that value creation. The Ondo DAO governs the infrastructure that enables the provision of Ondo products. Initially, the DAO itself will be the main provider of these services, but over time the DAO can permission others, including other DAOs, to create products on the platform. The DAO can also distribute incentives such as ONDO tokens to reward those creators. Formally, the Ondo DAO will have the ability to grant all of the roles specified in Ondo’s docs.
All ONDO tokens will initially be non-transferrable and subject to two lock-ups: (1) a time-based lockup that will release from the 12-month anniversary of June 1, 2022 through the 18-month anniversary of June 1, 2022 linearly through time on a block-by-block basis based on the number of seconds that have elapsed between blocks, and (2) an additional global lock-up that can only be released by a majority vote of token holders. However, even when non-transferable, ONDO will actively function as the governance token for the Ondo DAO with the rights described above. The DAO can also vote in liquidity mining and other incentive programs to boost adoption even while ONDO remains non-transferable. The global transfer restrictions will be enforced via smart contracts, and ONDO token holders can choose by majority vote when to alter those contracts to enable trading in the token.
Ondo was developed with investment capital from a diverse mix of traditional VCs, crypto-native VCs, and strategic investors who can use or funnel usage to the protocol. Founders Fund, the venture capital firm co-founded by Peter Thiel, and Pantera Capital co-led the latest fundraising round for Ondo.
