ROAD TOWN, British Virgin Islands, May 6, 2022 /PRNewswire/ -- In keeping with the Ondo Protocol's mission to democratize access to sophisticated financial services, Nami Industries will facilitate the launch of ONDO governance token and subsequent community token sale on Coinlist. Registrations are open until May 9 at 12:00 UTC. The official sale, open to residents of select jurisdictions only, begins on May 12, 17:00 UTC.
The ONDO token will serve as the underlying governance token for the related Ondo DAO, which will constitute the decentralized control and incentive system to enable those who bring value to the Ondo Protocol and its users to become stewards of the protocol. Initially, the DAO itself will be the main provider of Ondo's investment banking services, but over time can allow others, including other DAOs, to create products on the platform. The DAO can also distribute incentives in the form of ONDO tokens to reward those creators.
The sale begins on May 12, 17:00 UTC has one public option:
- Price: $0.055 per token
- Min/max: $100.00 min, $2,000.00 max
- Lockup: 12-month lock-up from June 1, 2022 with a 6-month release period thereafter (in addition to a global lockup that can be released by DAO vote)
- Supply: 400M
The launch of this token represents a big step in the process of handing over control of the Ondo Protocol to its users. The protocol has clearly demonstrated an unmet need within the DeFi space, establishing itself as a pioneer in the Liquidity-as-a-Service space. With its rapid organic growth despite any incentive programs, and live partnerships with 10+ DAOs (including Terra, Frax, and Fei), the protocol is now ready to let its users participate in its governance and administration.
For more details on the Coinlist sale, please visit this page.
About the Ondo Protocol
The Ondo Protocol is the world's first decentralized investment bank. Like a traditional investment bank, Ondo aims to be a hub matching those who have capital with those who need it through the creation of customized financial products (e.g. equities, bonds, structured products, derivatives, etc.) that organizations can offer to investors to raise money. Historically, this work has often been highly manual, expensive, and reliant on intermediaries. Decentralized finance (DeFi), however, presents novel infrastructure and financial primitives to enable investment banking activities that are automated, composable, and accessible to everyone. Ondo's focus is to build software that finds attractive investments across the traditional and DeFi landscape, repackages these assets into easily understood risk/reward offerings, and then matches and offers these assets to both institutional and retail investors.