Coinbase is prepping for a DeFi dance, adding Ondo Finance (ONDO) to its listing roadmap. With over 85% of ONDO tokens locked and ready to tango, the stage is set for a potential DeFi revolution on the crypto exchange giant’s platform.
Ahead of Token Unlock on January 18
Crypto exchange giant Coinbase has set its sights on the burgeoning DeFi scene, announcing the addition of Real World Asset (RWA) platform Ondo Finance (ONDO) to its listing roadmap. This move comes just ahead of the Ondo Foundation’s planned unlock of ONDO tokens on January 18th, further fueling anticipation for the project’s entry into the mainstream crypto market.
A DeFi – TradFi Bridge
Ondo Finance aims to bridge the gap between traditional finance and DeFi by enabling the creation and trading of tokenized versions of real-world assets like bonds, invoices, and commodities. This opens up the potential for wider participation in the DeFi ecosystem by leveraging familiar asset classes for investors comfortable with traditional financial instruments.
The total supply of ONDO tokens stands at 10 billion, with over 85% initially locked in various vesting schedules. This locked supply mechanism ensures gradual release onto the market, potentially mitigating price volatility and fostering long-term stability for the platform.
Growing Interest in DeFi Space
While Coinbase’s exact listing timeline for ONDO remains undisclosed, its inclusion on the roadmap signifies a growing interest in DeFi innovation within the exchange. This move, coupled with the approaching token unlock, suggests a potentially momentous entry for Ondo Finance into the broader crypto sphere.