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Ondo Perps tops $7 billion in cumulative volume after launch
DefiLlama data cited by Ondo shows about $200 million traded in the past 24 hours and roughly $69 million in open interest.
Ondo Finance's derivatives platform, Ondo Perps, has surpassed $7 billion in cumulative perpetuals trading volume just weeks after opening to the public, according to data compiled by DefiLlama.
TheStreet reports that DefiLlama estimates Ondo Perps at about $7.03 billion in cumulative perpetuals volume, with roughly $200 million traded over the past 24 hours and around $69 million in open interest.
Ondo said more than $5 billion of the total volume occurred since public access went live, and characterized the pace as the fastest start in the category's history, based on the same DefiLlama data.
Ondo Perps is designed for non-U.S. traders and offers perpetual futures with no expiry date, with up to 20x leverage and 24/7 trading. Instead of requiring cash or stablecoins to back positions, the platform allows users to post tokenized stocks and other assets as margin, which Ondo describes as a productive capital approach.