Ondo Finance Closed $20 Million Series A Funding Round Led by Founders Fund and Pantera Capital

Ondo Finance, a structured product, closed a $20 million Series A round led by Founders Fund and Pantera Capital, with participation from Coinbase Ventures, Tiger Global, GoldenTree Asset Management, and others. Ondo provides investment products known as "vaults" built on top of decentralized exchanges. It offers two types of vaults: fixed yield and variable yield. Depositors in fixed yield vaults receive a fixed percentage of yield over their initial investment. Depositors in variable yield vaults receive all excess returns after the fixed yield vaults receive their payout. The protocol's native tokens $ONDO and a decentralized autonomous organization (DAO), are expected to launch in the coming weeks.