Ondo Perps volume surges past $7 billion in weeks-long debut

Ondo Finance’s derivatives platform, Ondo Perps, has recorded approximately $7.03 billion in cumulative perpetual trading volume within weeks of its public launch, according to data from analytics site DefiLlama. The platform, designed specifically for non-US traders, enables users to trade tokenised real-world assets, including stocks and commodities, with leverage of up to 20 times.

Ondo Finance stated that more than $5 billion of this total volume occurred since public access began. Citing the same DefiLlama data, the company claimed this represents the fastest start in the history of the real-world asset perpetuals category. The volume has risen steeply since the spring, with the sharpest gains occurring in the weeks leading up to early August 2026.

The platform utilises a 'productive capital' model, a key differentiator that allows traders to use tokenised assets as margin rather than relying on cash or stablecoins. This approach enables users to keep their holdings working by posting tokenised stocks and other assets directly as collateral, rather than selling them or parking funds elsewhere.

Recent activity on the platform remains robust, with DefiLlama data indicating roughly $200 million was traded in the past 24 hours and around $69 million in open interest, representing the total value of positions currently held. The platform also recently unlocked tokenised gold and silver for perpetual trading, expanding the range of available assets.

Ondo Perps operates on the newly introduced Ondo Network, which powers the company’s trading products. Ondo Finance is a tokenisation firm that issues traditional assets such as stocks, indices, and commodities as tokens tradable on a blockchain. The company indicated that these milestones mark only the beginning, with more markets and features planned for the future.

This story was originally published by TheStreet on 7 August 2026.