Hi Investors and cryptolovers,
This post is about the ONDO company and token which was listed last week and - as so often - performed really well.
HISTORY:
Ondo Finance (the Foundation) was set up to run a number of Yielding Stable coin for Institutional investors only.
They are financed by a number of very well known companies. The yield products have some 200 M USD invested (real assets) but should attract more with the recent SEC decisiions for crypto products.
The token:
The token ONDO were sold to the public early 2022 but would not be available for another year and then gradually brought to market.
Last week this finally occurred and the price immediately went up and again resulting in a top 200 coin with 325 million market cap.
The initial price of 10 cents was already twice the amount they used to calculate the initial tokens ;
For 400 USD I got 7200 tokens now worth 1600 USD.
The token is used for payments and for decission making. The latter is now dominated by the foundation and probable some of the early investors but one can imagine that in some years ome kind of small dividend canbe paid iof things really take off.
But for me the token is no different from other (shit) tokens with the exception that these are backed by corporations rather than individuals in Russia, US or Korea etc. A bit like ripple but better and a real blockchain (if I am correct ripple is a server application)
When more feel this positive way the token could be a well accepted payment token like BTC, ETH, BCH and Litecoin for instance. We will see.
The number of exchanges now already dealing ONDO is amazing. Coinbase is adding it on their future listing as well. Turnover is high so that makes sense for them.
So now you know about ONDO!
regards
Goldrooster
**seller of silver maples and steem silver rounds for 25 HBD each! (Europe only) **
Sounds very promising my friend one more coin to watch!😊