Ondo Perps has officially launched, introducing up to 20x leverage on equity perpetual contracts with a groundbreaking feature: tokenized stocks and ETFs can be posted as collateral alongside stablecoins. The platform, which went live on July 7, 2026, covers equities, indices, and commodities, allowing eligible traders in approved regions to trade around the clock without expiry dates.
During its private beta phase, Ondo Perps processed nearly $2 billion in trading volume, signaling strong early demand. The company also announced up to $3 million in rewards for users. Access is currently restricted in the United States, Panama, and other prohibited jurisdictions.
The platform builds on Ondo Global Markets and its just‑in‑time liquidity model, enabling market makers to quote prices using real market depth and hedge with tokenized stocks. This design integrates tokenized securities directly into DeFi collateral markets, expanding the real‑world asset narrative. Pantera Capital highlighted the launch, further underscoring institutional interest in on‑chain equity perps.
