Ondo Launches Chainlink Feeds for Tokenized US Stocks

This replace brings official on-chain worth feeds for SPYon, QQQon, and TSLAon. These tokens mirror the SPDR S&P 500 ETF, the Invesco QQQ ETF, and Tesla shares.

Ondo shared on February 11 that the brand new feeds are lively on Euler. Customers on Euler can now pledge these tokenized shares as collateral and borrow stablecoins.

This marks a shift from treating tokenized equities solely as a solution to monitor costs. They will help borrowing and different monetary use instances.

The brand new hyperlink with Chainlink provides reliable pricing data immediately on-chain. DeFi companies can use these numbers to resolve how a lot collateral is required and when liquidations ought to happen.

The feeds additionally embody updates on company actions, akin to dividends, so functions can reference present fairness values.

Extra tokenized shares and ETFs are anticipated later as oracle protection grows and extra protocols undertake the feeds. For the belongings already listed, Sentora oversees the danger settings.

In response to Ondo, tokenized shares had a serious hole earlier than this variation. They have been simple to carry for publicity to market actions, however not broadly accepted in lending markets.

In the meantime, Chainlink plans to convey extra of the US inventory market onto blockchain networks. How? Learn the total story.