Ondo is gearing up to launch its own perps, and its biggest advantage is that it allows tokenized stocks to be used as collateral, with cross-margining. For example, you can use your tokenized NVDA as collateral to open a TSLA position. Or, if you want to hedge your NVDA position, you can directly use your stock as collateral to short NVDA. Compared to traditional platforms that require additional stablecoin collateral as margin, Ondo perps significantly improve capital efficiency. According to the official info, Ondo perps will likely align with Ondo's liquidity design, directly tapping into Nasdaq and NYSE spot liquidity instead of relying on synthetic order books. This completely addresses the poor liquidity issue that most tokenized stock perpetual contracts face. Super excited to see what this will look like for users—I’ve already applied for Early Access to try it out. This content is supported by @OndoFinance and is not investment advice.