Ondo Launches Execution Layer, Debuts with Perpetual Futures Platform

Ondo Finance has launched its execution layer, dubbed the Ondo Network, which it claims is the evolution of its original vision for Ondo Chain. According to CEO Ian De Bode, the new network 'isn't a blockchain today,' but as it evolves, this distinction will become harder to make.

The Ondo Network uses hardware enclaves for private and high-speed execution, decentralized attestors for verifiability, and public blockchains for asset transfer settlement. This separation of execution from verification and settlement is designed to address the main bottleneck that Ondo encountered while building its Perps exchange and talking to customers.

The first application built on the network is Ondo Perps, a perpetual futures platform, but the company claims that the network is general-purpose and could support other markets such as spot markets, structured products, and lending markets. The launch does not change the role of the ONDO token, which remains the governance and ecosystem token for Ondo's real-world asset and markets infrastructure.