Ondo Finance launched the Ondo Network, a new execution layer designed to combine centralized exchange-like speed with non-custodial trading and onchain settlement. CEO Ian De Bode described the network as the 'evolution' of Ondo Chain, the company's previous blockchain, stating it is 'the implementation of what we originally set out with the Ondo Chain.' The company, focused on tokenizing real-world assets, developed the new architecture after concluding that execution, rather than settlement, was the main bottleneck for high-performance trading while building the Ondo Perps exchange.
Ondo Network Separates Execution from Settlement and Verification
According to Ondo, traditional blockchains perform execution, verification, and settlement on the same ledger, providing durability and trust but making them too slow and transparent for high-performance trading. The Ondo Network instead separates execution from settlement and verification while keeping users in control of their assets.
'The Ondo network is a new type of architecture that tries to land at a different configuration so that privacy is enabled by default, execution speed can rival centralized exchanges, while still maintaining the self-custodial design, verifiable fairness and permissionless access that makes blockchains so powerful,' De Bode said.
Ondo said the network is general-purpose and could support applications beyond perpetual futures, including spot markets, lending, structured products and non-financial applications that require fast, private and verifiable execution.
Ondo Finance Transitions from Ondo Chain to Ondo Network
Ondo originally planned to build a full blockchain through Ondo Chain to bring real-world assets onchain. However, while developing the Ondo Perps exchange and speaking with customers, the company concluded that execution, rather than settlement, was the main bottleneck.
Asked whether the Ondo Network is effectively replacing Ondo Chain, De Bode said it is 'the implementation of what we originally set out with the Ondo Chain.' He added, 'I'd frame it more as an evolution, but we will not be running the Ondo Network and the Ondo Chain in parallel.'
Decentralized Attestors Verify Code Execution in Secure Enclaves
A decentralized network of attestors determines which code the secure hardware enclaves are allowed to run, effectively verifying that the approved code is being executed. Asset transfers currently settle on Ethereum, with support for additional public blockchains planned.
'Over time, the network will also commit the settled state to public blockchains to allow for a durable and immutable record (similar to how Lighter does it). Right now, that record only lives within the enclaves,' De Bode said.
Ondo Perps Becomes First Application on Ondo Network
Ondo Perps is the first application built on the network. The platform offers 24/7 perpetual futures tied to equities and commodities, with tokenized real-world assets supported as collateral.
ONDO Token Retains Governance and Ecosystem Role
The launch does not change the role of the ONDO token, De Bode said. He said it remains the governance and ecosystem token for Ondo's real-world asset and markets infrastructure.
'As the Ondo Network decentralizes (more attestors, watchers, economic security), ONDO is what will sit at the center of incentives and governance for that layer,' De Bode said.
The ONDO token is currently trading at around $0.40, making it the 41st-largest cryptocurrency with a market capitalization of nearly $2 billion, according to The Block's ONDO price page.
FAQ
What is the Ondo Network launched by Ondo Finance?
The Ondo Network is a new execution layer designed to combine centralized exchange-like speed with non-custodial trading and onchain settlement. It separates execution from settlement and verification while keeping users in control of their assets.
How does the Ondo Network differ from Ondo Chain?
Ondo CEO Ian De Bode described the Ondo Network as the 'evolution' of Ondo Chain, stating it is 'the implementation of what we originally set out with the Ondo Chain.' The company will not be running the Ondo Network and the Ondo Chain in parallel.
What role does the ONDO token play in the new network?
The ONDO token remains the governance and ecosystem token for Ondo's real-world asset and markets infrastructure. As the Ondo Network decentralizes, ONDO will sit at the center of incentives and governance for that layer, according to De Bode.
