توكنوميكس Ondo (ONDO)

Ondo Finance’s ONDO token is designed to support the protocol’s mission of bringing institutional-grade financial products onchain. Below is a comprehensive breakdown of its token economics, including issuance, allocation, usage, incentives, locking, and unlocking mechanisms.

Issuance Mechanism

• Token Standard & Supply: ONDO is an ERC-20 token on Ethereum, with a maximum supply of 10 billion tokens.
• Creation Date: The token was created on April 28, 2022.
• Public Sale: In May 2022, ~198.88 million ONDO (~1.99% of supply) were sold in a Community Access Sale via CoinList, raising over $10 million. Sale prices were $0.03 (priority queue) and $0.055 (public access).

Allocation Mechanism

Note: As of Dec. 23, 2024, the Ondo DAO treasury does not hold the Ecosystem Growth allocation.

Usage and Incentive Mechanism

• Governance: ONDO is primarily a governance token. Holders can submit and vote on proposals for Flux Finance (e.g., listing new assets, pausing markets, updating interest models, managing treasury).
  • To submit a proposal: 100M ONDO must be delegated.
  • For a proposal to pass: At least 1M ONDO must vote, and quorum must be met.
  • Voting period: 3 days; 1-day timelock before execution.
• Ecosystem Incentives: ~52% of tokens are reserved for ecosystem growth, including future airdrops and rewards for contributors.
• Ondo Points Program: Tokenholders can earn points by holding ONDO, with bonuses for “diamond hands” (long-term holders). Points may be redeemable for future rewards.
• No Staking or Liquidity Provision: As of Dec. 23, 2024, there is no staking or liquidity provision mechanism for ONDO.
• No Profit or Capital Claims: ONDO does not confer rights to profits, capital, or legal claims on Ondo Finance entities.

Locking Mechanism

• Global Lock-Up: All ONDO tokens were initially subject to a global lock-up until January 18, 2024.
• Post-Lock-Up: After the “enableTransfer” function was called on Jan. 18, 2024, ONDO became transferable, marking its public launch.

Unlocking Time and Vesting

• Cliff and Vesting: Most allocations are subject to a one-year cliff from the public launch (Jan. 18, 2024), followed by three years of yearly vesting.
• Ecosystem Growth Allocation: ~5.21B ONDO is reserved for future distribution, but the specific vesting and unlocking schedule is not fully disclosed.
• Protocol Development Allocation: 3.3B ONDO (33%) is for core contributors, subject to the same cliff and vesting schedule.

Summary Table

Additional Notes

• Bridging and Cross-Chain: Ondo Bridge enables native, cross-chain transfers of ONDO and RWA tokens, using Axelar and LayerZero for security and interoperability.
• Security: Transactions are secured by Ethereum. Ondo Bridge employs multi-layer validation and risk management.
• No Staking: There is no staking or liquidity provision mechanism as of the latest available data.

Ondo’s token economics are designed to incentivize long-term participation, governance, and ecosystem growth, with a strong emphasis on security and cross-chain operability. The majority of tokens remain locked or vesting, with a significant portion reserved for future ecosystem incentives.