4/ We are also tokenizing ownership in the fund in order to pave the way for a (compliant) on-chain financial ecosystem powered by real world assets.
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Replies
1/ 🚨
@OndoFinance
is bringing US Treasuries and institutional-grade bonds on-chain 🚨
We are making it possible for stablecoin holders to invest in US Treasuries through a daily liquid, bankruptcy-remote, tokenized fund with regulated service providers.
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2/ One of our goals is to make it quick and easy for investors to convert back and forth between stablecoins and traditional assets, with an emphasis on highly liquid, low-risk products like short-term US Treasuries.
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3/ In doing so we can start to bridge the gap between low and risky on-chain yields with much safer, more liquid, and higher yielding alternatives. We think start-ups, DAOs, and individuals—particularly stablecoin holders—are most likely to benefit from our offering.
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5/ Investors in the fund will receive tokenized ownership, and they can transfer those tokens with other whitelisted investors in order to effect authoritative changes in ownership.
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6/ When an investor transfers fund tokens to another investor, the fund admin will update the off-chain accounts of the buyer and seller to reflect the change in ownership (so the appropriate amount of income is shown on partnership and other reports).
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7/ Investors can also use certain smart contracts for lending, trading, and other activities. However, smart contracts must also be whitelisted, and can only be called by whitelisted investors (EOAs).
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8/ Any investor can apply to have a smart contract whitelisted, and that investor must demonstrate that the smart contract is not being used to subvert the intent of the transfer restrictions (e.g., by making a permissionless token wrapper).
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9/ We are launching with three share classes providing a range of institutional-grade yield offerings:
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10/ Ondo US Government Bond Fund (OUSG): OUSG will invest exclusively in short term US treasuries, initially via the Blackrock US Treasuries ETF (SHV).
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11/ Ondo Short-Term Investment Grade Bond Fund (OSTB): OSTB will invest in short-term investment grade, corporate bonds, initially via the PIMCO Enhanced Short Maturity Active ETF (MINT).
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12/ Ondo High Yield Corporate Bond Fund (OHYG): OHYG will invest in high yield, corporate bonds, initially via the Blackrock iBoxx $ High Yield Corporate Bond ETF (HYG).
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13/ We are also working with only the most reputable and highly regulated service providers:
Prime broker: Clear Street (qualified custodian)
Stablecoin custodian: Coinbase Custody (qualified custodian)
Fund admin: NAV Consulting
Tax and audit: Richey May
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14/ Investors interested in subscribing should reach out at investors
@ondo
.finance or via the Contact page at .
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15/ Please also reach out to us if you are a developer building a protocol that could utilize these security tokens in a compliant manner (i.e., while preserving their transfer restrictions). We'd love to work with you!
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16/ To read more, you can check out our new and improved website at or read our announcement below:
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@MuyaoShen
18/ And thanks to
@ofernau
from
@DefiantNews
for contextualizing our release in the history of security tokens:
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