Ondo Foundation Unveils ONDO Points and Token Unlock Plan - Blockchain.News

Ondo Foundation Unveils ONDO Points and Token Unlock Plan

Jessie A Ellis Jan 10, 2024 10:20

The Ondo Foundation introduces Ondo Points to enhance community engagement and proposes an unlock plan for ONDO tokens, advancing its mission in the DeFi space.

Ondo Foundation Unveils ONDO Points and Token Unlock Plan

The Ondo Foundation, a pivotal player in the decentralized finance (DeFi) landscape, recently announced two major initiatives: the introduction of Ondo Points and the proposed release of the ONDO token lock-up. These developments represent significant milestones in Ondo's journey towards democratizing access to institutional-grade finance and enhancing transparency in global finance.

Ondo Points Program

Launched on January 8, 2024, the Ondo Points program is designed to reward community engagement and increase awareness of products within the Ondo Ecosystem. This program allows participants to earn points through various activities, including community participation, using Ondo products, and contributing to the Ondo DAO (Decentralized Autonomous Organization). This initiative not only incentivizes active participation but also fosters a sense of community and collaboration among users​​.

ONDO Token Unlock Plan

The Ondo Foundation's proposal to unlock the ONDO token, announced on December 27, 2023, marks a significant move towards aligning its community with the future of open, transparent, and efficient global finance. The ONDO token plays a strategic role in the governance of the Ondo DAO and the Flux Finance protocol.

Key Aspects of the Unlock Plan

ONDO Genesis and Real-World Impact: Ondo Finance, established in 2021, manages over $200 million in tokenized assets and has pioneered protocols like Flux Finance, the world’s first lending protocol supporting tokenized securities as collateral. The Ondo Foundation, initially known as the Neptune Foundation, acquired ONDO token issuance rights from Ondo Finance in 2022 and sold ONDO tokens to over 18,000 individuals through CoinList​​​​.

Governance and the Ondo DAO: ONDO token holders have specific rights within the Flux Finance, including listing new fToken markets, updating interest rate models, and managing assets. The Ondo DAO has executed several proposals and has a large base of registered token holders and active voters​​.

ONDO Distribution and Unlock Schedule: The initial circulating supply of ONDO tokens is set at approximately 14.3% of the max supply of 10 billion, with over 85% initially locked. The unlock schedule is detailed, focusing on long-term alignment among contributors, investors, and ecosystem participants. Categories include the Community Access Sale, Ecosystem Growth, Protocol Development, and Private Sales​​​​.

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