Dubai, UAE, Aug. 01, 2024 (GLOBE NEWSWIRE) -- CoinW, the world's pioneering cryptocurrency trading platform, will list ONDO, the governance token of Ondo Finance, on the DEFI Zone. For all CoinW users, the ONDO/USDT will be officially available for trading on August 2nd 2024, at 12:00 (UTC). To celebrate the listing of ONDO, we are launching the "ONDO bounty program: Register & Trade & Retweet" event with a reward pool of 5,000 USDT.
Introduction of Ondo Finance and ONDO Token
Launched on January 8th this year, ONDO has exhibited impressive growth, expanding its market cap from $250 million to $1 billion within six months. Ondo Finance is at the forefront of the Real-World Asset (RWA) sector, revolutionizing Web3 investment banking by tokenizing U.S. Treasury bonds. Supported by prominent institutions such as BlackRock and Morgan Stanley, and backed by leading venture capital firms like Founders Fund, Pantera Capital, and Coinbase Ventures, Ondo Finance is a decentralized, institutional-grade financial protocol. It leverages blockchain technology to offer low-risk, stable, and scalable financial products like U.S. Treasuries and money market funds to on-chain investors.
ONDO serves as the governance token for Ondo DAO and Flux Finance, with a total supply of 10 billion tokens distributed as follows: 2% for community access sales, 52.1% for ecosystem growth, 33% for protocol development, and 12.9% for private sales. The protocol’s unique approach allows holders, rather than issuers, to earn the majority of the underlying asset's yield, presenting an attractive alternative to stablecoins.
Project Success and Community Engagement
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 innovative approach has garnered a strong community base, with 193,000 followers on Twitter and 83,850 members on Telegram, predominantly from Europe and the United States.
Since its inception, Ondo Finance has raised over $30 million through various funding rounds, including 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.
5,000 USDT Limited-Time Offer for CoinW Community
To celebrate the listing, 5,000 USDT equivalent ONDO prize pool will be up for grabs from August 2nd, 2024, at 12:00 to August 12th, 2024, at 16:00 (UTC). By participating in events such as registration, trading, and community events, CoinW users have the opportunity to share in a prize pool of 5,000 USDT. To claim your rewards, please click here.
About CoinW
CoinW is a pioneering crypto trading platform that prioritizes security, transparency, and user-centric principles. With advanced technology, deep liquidity, and a wide range of supported cryptocurrencies, the company has amassed a broad user base to become one of the world’s most secure crypto exchanges. Committed to security, transparency, and compliance, the CoinW exchange upholds the highest regulatory standards and actively contributes to the advancement of the crypto industry. To learn more about CoinW, you can visit the official website, and follow CoinW's Twitter Account, Btok, and Telegram Group.
About ONDO
Ondo Finance is a decentralized institutional-grade financial protocol leveraging blockchain technology to offer institutional-grade financial products and services, creating an open, permissionless, decentralized investment bank.
CONTACT: marketing(at)coinw.com
