Ondo offers multi-tranche "vaults" that bundle DeFi assets into fixed (senior) and variable (junior) tranches, functioning similarly to collateralized debt obligations to let risk-averse and risk-tolerant investors access DeFi yield. It also provides "liquidity-as-a-service," matching DAOs with underwriters and large stablecoin issuers to supply initial liquidity for newly launched tokens. The company has partnered with over 10 DAOs, including Terra, Frax and Fei, and works with multiple large stablecoin issuers. Ondo is building many middle- and back-office investment-bank functions on-chain rather than offering traditional advisory services. The startup launched its vaults just over a year ago and was founded by two alums of Goldman Sachs’ digital assets team, with Nathan Allman as CEO. Ondo plans to expand its suite of structured products to include vaults that aggregate algorithmic-stablecoin yields and cross-chain yields, and intends to launch its own token and associated DAO to decentralize governance.

Total raised

$20M

Funding rounds

1

Latest round

Series A

Latest activity

Apr 2022