Ondo Perps officially launches, supporting up to 20x leverage for stock perpetual contracts.

Ondo Perps has officially launched, offering up to 20x leverage on stock perpetual contracts, allowing tokenized stocks to be used as collateral, and providing rewards of up to $3 million. Ondo Perps noted that Ondo Technology has previously advanced the development of tokenized stocks, and its perpetual contract market now covers assets including oil, gold, silver, Intel, AMD, Meta, Tesla, Apple, Circle, NVIDIA, Oracle, Netflix, DRAM, Micron, the US 100, US 500, SpaceX, Palantir, Amazon, Strategy, Alphabet, Coinbase, Microsoft, and Robinhood, supporting permissionless, 24/7 trading. Ondo Perps claims to be the first platform to allow tokenized stocks as collateral, and is currently open to Pre-Alpha users. RWA perpetual contracts can be traded on the platform, which aims to deliver liquidity and capital efficiency comparable to traditional derivatives trading platforms. Ondo Perps stated that traders can deploy large amounts of capital, execute complex strategies, and manage risks on a single platform, free from the expiration dates and closing times of traditional derivatives venues. The platform is currently open to global users, excluding those in the U.S., Panama, and other restricted jurisdictions.