Ondo Perps tops $8B trading volume within weeks of launch

Cash is dead as collateral. Ondo Finance has hit $8 billion in volume by letting traders use tokenized stocks as margin for 20x leverage. This "productive capital" model allows you to gamble on futures using your equity portfolio without ever selling a share. It’s a direct challenge to traditional risk management that prioritizes liquidity over constant exposure. Is using stocks to back high-leverage bets a brilliant financial evolution or a systemic disaster waiting to happen?
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