Ondo Finance has expanded its tokenized inventory choices to Robinhood Chain. According to the issuer, customers will probably be ready to commerce 15 tokenized shares and ETFs and swap throughout Ethereum, BNB Chain, and Robinhood Chain.
The assets embody crypto companies (Strategy, BitMine, Circle), tech companies (Meta, Apple, Tesla, Google), and ETFs (U.S. Copper Index Fund, China Large-Cap ETF).
Under the hood, the buying and selling of 11 of those merchandise will probably be powered by Uniswap V4’s StablePair pool.
Impact of Ondo Finance’s Robinhood growth
The replace was hailed as a key step towards fixing liquidity fragmentation.
One of the biggest tokenized inventory issuers is now on Robinhood Chain, with Uniswap as its liquidity layer. Ondo Stocks and Robinhood Stock Tokens are the identical shares, pegged 1:1 like USDC/USDT.
Here, a tokenized inventory, say Apple by Robinhood Chain, is assumed to have the identical worth because the one issued by Ondo since they each observe the worth of Apple shares on conventional exchanges. So, they need to be exchangeable 1:1, simply as USDT is to USDC.
However, a number of tokenized asset issuers haven’t solved the fragmentation. As such, Ondo-Robinhood’s design is a commendable step in direction of fixing the liquidity fragmentation difficulty. Hayden Adams, founding father of Uniswap, echoed the same stance, including the financial advantage of the replace.
(*15*)
For the unfamiliar, those that present liquidity (LPs) earn a part of the buying and selling charges. Besides, the shares, whereas meant to be 1:1, will be barely off by a couple of foundation factors as a result of they’re from totally different issuers. That permits for arbitrage alternatives, and merchants pocket the distinction.
Still, the design solely solves the liquidity downside remoted between Robinhood, Ethereum [ETH], and BNB Chain. Ondo doesn’t remedy cross-chain fragmentation on networks like Solana [SOL] and Canton [CC]. In reality, the IMF has flagged this as the principle adoption hurdle for tokenized shares.
Ondo turns into the 2nd largest tokenized shares issuer
That stated, this may mark Ondo Stocks’ eleventh chain. The agency has issued tokenized assets throughout Ethereum, Stellar, Solana, BNB Chain, XRP Ledger, Sui, Arbitrum, Stripe-backed Tempo, and Mantle.
Ondo Finance’s complete tokenized inventory worth stands at $930 million as of late October. This is an 8% improve previously thirty days, with a 25% market share. It’s now the second-largest issuer after Binance’s bStocks, which boasts $1.4 billion in assets’ worth.
Final Summary
- Ondo Finance has expanded 15 tokenized shares to Robinhood Chain, permitting 1:1 swapping for higher liquidity.
- Ondo Stocks is the second-largest tokenized inventory issuer with a 25% market share.
