A new player in the#RWAfield, @OndoFinance (#ONDO), just launched on the 18th. The core is bond RWA, focusing on compliance. The team mainly comes from investment banks such as Goldman Sachs in the United States, and is endorsed by Coinbase.#CoinlistNew project, listed on Binance Futures yesterday.

Currently there are four products:

OMMF: U.S. Monetary Fund, which invests in high-credit-rated U.S. government bonds, short-term bonds and other debt instruments, with a current annualized return of 4.73% (coming soon)

OUSG: Blackrock short-term U.S. Treasury Bond ETF, currently has an annualized yield of 4.69% and a TVL of US$117 million.

USDY: A tokenized note backed by short-term U.S. Treasury securities and bank demand deposits. The current annualized rate of return is 5.1%, 66 million TVL.

Flux Finance: The first protocol to support tokenized securities collateral, it is a lending protocol that supports high-quality RWA as collateral

Main takeaways:

1. The project focuses on compliance. Investors require KYC, a threshold of US$1 million, and tax forms. Not as flexible as #MKR.

2. Currently supports 3 chains:#SOL#MANTLE #MATIC

3. Cross-chain solution partners: @axelarnetwork (#AXL), @LayerZero_Labs (unissued currency). (Wormholes are not used here, probably for safety reasons)

4. Currently listed on exchanges, it is already on the list of coinbase, and Binance may also be a high probability.

5. Valuation: MC: US$370 million, FDV: US$2.6 billion. Price: 0.27. Listed on exchanges: Matcha, Gate. Personally, I think the valuation is on the high side, after all, the threshold for retail investment is too high.

6. Legitimacy: Former leadership of Goldman Sachs’ digital assets team. The team has a professional financial background and no problem with legitimacy. The core mission of the project is to democratize finance, reduce global financial friction, and increase interoperability.

7. Financing: Founders Fund, Pantera and Coinbase Ventures, among others, raised $24 million in equity financing.