OKX, a prominent cryptocurrency exchange, has introduced the Ondo (ONDO) token to its spot trading market. This new listing has generated significant excitement among investors, leading to a notable increase in the token’s price. The inclusion of ONDO on OKX has provided users with new trading opportunities and expanded the exchange’s token offerings.
When Did ONDO Listing Begin?
OKX users were able to start depositing ONDO tokens from July 29, 2024, at 10:00 AM (TSI). Spot trading for the ONDO/USDT pair commenced shortly after at 11:00 AM (TSI) on the same day. Withdrawals for ONDO tokens are scheduled to be available starting July 30, 2024, at 1:00 PM (TSI). These developments have been well-received by the market, coinciding with a broader recovery in the cryptocurrency sector.
What is Ondo Finance?
Ondo Finance is a forward-thinking protocol aiming to enhance liquidity, accessibility, and efficiency within financial markets by tokenizing real-world assets (RWA). The protocol offers notable assets such as the OUSG Fund, a tokenized version of BlackRock’s iShares Short Treasury Bond ETF, and USDY, an interest-bearing stablecoin backed by short-term US Treasury bonds and bank deposits.
The ONDO token’s total supply is capped at 10 billion units, with its contract address being 0xfAbA6f8e4a5E8Ab82F62fe7C39859FA577269BE3. The listing on OKX represents a significant milestone for Ondo Finance, providing investors with access to innovative financial instruments rooted in real-world assets.
Key Takeaways for Investors
– ONDO deposits began on July 29, 2024, with trading launching the same day.
– ONDO withdrawals are set to start on July 30, 2024.
– The token’s price surged by over 8% following the listing.
– Ondo Finance offers tokenized versions of US Treasury bonds and interest-bearing stablecoins.
The listing of ONDO on OKX not only diversifies the exchange’s offerings but also positions Ondo Finance as a significant player in the tokenized asset space. Investors now have the opportunity to engage with innovative financial products that blend traditional assets with blockchain technology.