Skip to content
Archive

Post

Back to deliverables

M 70Seven_Qi
Miya
@70Seven_Qi

不看数据先看一个问题:为什么是 Ondo? RWA 永续合约这个品类不是没人想过。GMX 两年前就讨论过接入代币化国债做保证金,Synthetix 也尝试过 RWA 合成资产,都没跑出来。不是技术问题,是合规和品牌的问题。 Ondo Perps 上线不到一个月,24 小时交易量破 3 亿美元,OI 逼近 7000 万。拆开看这个数据: 第一层是资产端。代币化国债有 20 亿美金的链上存量,但这些钱之前只能吃利息,没有杠杆工具就没有放大效应。Ondo Perps 相当于给这 20 亿装了涡轮,存量资产 → 保证金 → 杠杆交易,这个转化率哪怕只有 5% 也是 1 亿美金的新增流动性。 第二层是信任端。RWA 这个赛道最大的隐性成本是合规风险。机构不敢把钱放进一个不知道明天会不会被 SEC 盯上的协议。Ondo 有 BlackRock 合作背书,有合规框架,这笔信任折旧为零。其他 perp DEX 花三年建立用户信任,Ondo 是带着信任进场,起跑线不一样。 第三层是时机。链上 perp 市场在 Hyperliquid 之后进入了一个微妙的空窗期——赢家已经产生,但赢家做的是通用衍生品,RWA 这条垂直线几乎是空白。Ondo 选在这个时候推出,不是巧合。 操作原则:7000 万 OI 是现阶段最值得关注的指标,比交易量更真实。如果下个月 OI 翻倍到 1.5 亿,那就不是 RWA perp 的事了,是整个链上衍生品格局要重排。

@

$300,000,000 in 24 hours. Ondo Perps has surpassed $300M in 24-hour volume and is approaching $70M in open interest. Less than 1 month after launch, Ondo Perps has become one of the top RWA perp platforms. https://x.com/OndoPerps/status/2083140843116933187/photo/1

· 9.8K Views

9 Reposts 95 Likes
replies reposts likes
56 replies collected of 76 X reports
prodip @potu_eth · 11K

@70Seven_Qi ondo perps' oi growth is a better indicator of real market demand than trading volume.

original · zh

@70Seven_Qi ondo perps 的 oi 增长比交易量更能反映真实市场需求。

半夏 @Banxiabnb · 35K

@70Seven_Qi These numbers are indeed quite impressive.

original · zh

@70Seven_Qi 这数据确实有点猛啊

Ling Yi @feikeis ·

@70Seven_Qi I run a B2B SaaS business, but last year I talked to someone about using government bond yields as margin for contracts, but it was completely stalled due to compliance issues; we couldn't even get the demo up and running. Ondo's ability to bring trust into the market is definitely a huge first-mover advantage. I'm curious whether there are any subsidies or incentives involved in the current OI growth, and if those incentives are removed, can it still grow to 150 million?

original · zh

@70Seven_Qi 我自己做 2B SaaS 的,但去年跟人聊过把国债收益拿来当保证金做合约,卡在合规那头完全推不动,连 demo 都没跑起来。Ondo 能带信任进场这个确实是个巨大的先发优势。我比较好奇的是,现在这 OI 增长里有没有补贴激励的成分,如果撤掉激励还能不能持续滚到 1.5 亿?

pekka8971 @pekka897142890 ·

@70Seven_Qi The supply chain narrative finally has a brand name label.

original · zh

@70Seven_Qi 供应链叙事终于有了名牌标的

七九 | 狗宝真帅🐕 @qijiueth · 34K

@70Seven_Qi This breakdown thoroughly explains Ondo's core advantages, especially the zero trust depreciation, which is indeed the most difficult barrier for others to replicate.

original · zh

@70Seven_Qi 这个拆解把 Ondo 的核心优势讲透了,尤其是信任折旧为零那点,确实是别人最难复制的壁垒。

Árpád Selmeci @ArpadSelmeci ·

@70Seven_Qi Who actually spent real money to buy it?

original · zh

@70Seven_Qi 谁还真金白银冲了

Cheick Ousmane Ouedraogo @CheickOusma ·

@70Seven_Qi Ondo's approach of turning government bonds into leverage is quite impressive.

original · zh

@70Seven_Qi Ondo把国债盘活成杠杆还挺猛

Allen martin @Allenma80348192 ·

@70Seven_Qi While others are still figuring things out, Ondo has already taken off.

original · zh

@70Seven_Qi 别人还在摸索Ondo直接起飞了

bullace @bullace0225 ·

@70Seven_Qi This solution is mind-blowing!

original · zh

@70Seven_Qi 这解题思路降维打击了

Lydia Johnson @nlzzp91234487 ·

@70Seven_Qi, you're absolutely right! Please help me out!

original · zh

@70Seven_Qi 大佬说得太好了,带带我嘛

李昊哇 @snprasad_70 ·

@70Seven_Qi Looks like you're about to make a fortune again.

original · zh

@70Seven_Qi 看来又要发财了

会会 @Subbu3623785611 ·

@70Seven_Qi, you're absolutely right! Please help me out!

original · zh

@70Seven_Qi 大佬说得太好了,带带我嘛

Mohd @mohd_usnani ·

@70Seven_Qi There's absolutely no valuable content.

original · zh

@70Seven_Qi 一点价值内容都没有

魔力大眼 @jayapra68730175 ·

@70Seven_Qi, why am I still losing money in a bull market?

original · zh

@70Seven_Qi 大佬我为什么牛市还是亏钱

유정 @PQTonX · 34K

@70Seven_Qi The really crazy thing is that this is just the beginning.

original · ko

@70Seven_Qi 진짜 미친 건 이게 시작에 불과하다는 거

呆呆呆呆 @dashubtc · 21K

@70Seven_Qi This solution is mind-blowing!

original · zh

@70Seven_Qi 这解题思路降维打击了

SEA•星海漫游 @Seaxing777 ·

@70Seven_Qi Ondo's POLA boost is many times over.

original · ja

@70Seven_Qi Ondo上波拉了好多倍

幻想 | 上Gate玩事件合约 @315728dzp · 20K

@70Seven_Qi These three points are very clearly broken down; Ondo has indeed found a good position.

original · zh

@70Seven_Qi 这三点拆得很清楚,Ondo确实卡了个好位置

二狗冠名就上薪火 @JunLin42808 ·

@70Seven_Qi The 24-hour data is truly explosive!

original · zh

@70Seven_Qi 24小时数据是真炸裂啊

king |买美股上币安 @kingzw888 ·

@70Seven_Qi However, the key factor going forward is whether the actual retention rate of online interest (OI) can continue to grow and whether the liquidity depth can absorb institutional funds. This will determine whether it is a long-term trend.

original · zh

@70Seven_Qi 不过后续关键还是看真实留存 OI 能不能持续增长 流动性深度能不能承接机构资金,这才决定它是不是一个长期趋势

币圈狗爸🔶OP_CAT @CryptoGouba ·

@70Seven_Qi Now we'll see if it can climb higher; the 150 million mark is definitely crucial.

original · zh

@70Seven_Qi 接下来就看能不能往上冲了,1.5亿那个节点确实关键。

南山币胜客 @hungry_twitt · 16K

@70Seven_Qi Compliance costs are an invisible barrier in the RWA field, but Ondo has directly overcome this hurdle.

original · zh

@70Seven_Qi 合规成本在RWA赛道是隐形壁垒,Ondo直接把这道门槛跨过去了

0xskybb🔶OP_CAT @Oxskybb ·

@70Seven_Qi If the OI (Online Inquiry) really doubles next month, the landscape will indeed change.

original · zh

@70Seven_Qi 下个月如果 OI 真翻倍,格局确实要变。

@70Seven_Qi Ondo Making compliance a competitive advantage is indeed key; other projects can't learn from this.

original · zh

@70Seven_Qi Ondo 把合规变成护城河这点确实关键,其他项目学不来

@70Seven_Qi This rhythm is so real.

original · zh

@70Seven_Qi 这节奏太真实了

@70Seven_Qi Is ondo's RWA really that strong?

original · zh

@70Seven_Qi ondo的rwa这么猛吗???

撸毛吃猪脚饭 @mnmn94253156337 · 13K

@70Seven_Qi These trading data are amazing.

original · zh

@70Seven_Qi 这交易数据太亮眼了

HuaHua🌱狗宝真帅🐶 @HuaHua_BTC ·

@70Seven_Qi These stats are really impressive.

original · zh

@70Seven_Qi 这数据真漂亮

比特唐三藏🐂🀄️ @tangsanzangbtc · 14K

@70Seven_Qi That's great! Congratulations!

original · ja

@70Seven_Qi 可以的啊 恭喜 恭喜

@70Seven_Qi This analysis thoroughly explains Ondo's competitive advantage.

original · zh

@70Seven_Qi 这波分析把Ondo的护城河讲透了

阿台🕊️ @QT9277 · 36K

@70Seven_Qi Is this really that powerful? Σ(゚д゚;)

original · ja

@70Seven_Qi 这个这么猛的吗?Σ(゚д゚;)

TaoFen @taofen_boy ·

@70Seven_Qi Ondo's 24-hour trading volume exceeded 300 million US dollars. This data is terrifying enough, and there's a reason why it's so popular!

original · zh

@70Seven_Qi 24小时交易量突破三亿美元,Ondo的这一数据足够恐怖,热度这么高是有原因的!

小明|买美股上币安 @xiaoming_web3 · 17K

@70Seven_Qi After reading this, you really explained the ins and outs of RWA perp.

original · zh

@70Seven_Qi 看完确实把 RWA perp 的门道说清楚了

@70Seven_Qi These numbers are indeed quite impressive.

original · zh

@70Seven_Qi 这数据确实有点猛啊

陶朱 @A_taozhu · 19K

@70Seven_Qi BlackRock backing, leveraged government bonds

original · zh

@70Seven_Qi 贝莱德背书,国债加杠杆

莓莓 @Meimeibtcc · 13K

@70Seven_Qi Congratulations! That's great!

original · ja

@70Seven_Qi 恭喜啊,可以的

@70Seven_Qi Even on good platforms, people are still willing to trade.

original · zh

@70Seven_Qi 好的平台依然有人愿意去交易的

皮卡丘 @aicheed2014 · 11K

@70Seven_Qi Ondo's compliance advantage is truly amazing; the RWA (Real Estate Management) landscape is about to change.

original · zh

@70Seven_Qi Ondo这波合规优势真绝了,RWA赛道格局要变

Crypto.七月 | 上Gate玩事件合约 @Gays175448 · 11K

@70Seven_Qi The data is indeed impressive, but I'm more optimistic about its depth. OI (Online Inquiry) is the real test, and I hope it's not just a short-term fad.

original · zh

@70Seven_Qi 数据确实硬,但更看好后续深度,OI 才是真考验,希望别只是短期热度。

加密旺哥 @TTZTTS · 35K

@70Seven_Qi The point of 70 million OIs is quite crucial.

original · zh

@70Seven_Qi 7000万OI这个点挺关键

@70Seven_Qi Using government bonds as margin is indeed a brilliant move. The real test will be whether OI can hold above 150 million next month.

original · zh

@70Seven_Qi 国债当保证金这招确实妙,下月OI能不能站稳1.5亿才是真正的考验。

猪猪熊🐻 | 买美股上币安 @hyyuan99 · 10K

@70Seven_Qi This project's data is really impressive!

original · zh

@70Seven_Qi 这个项目的数据好能打呀

奶牛叔 @WWTLitee · 68K

@70Seven_Qi BlackRock's endorsement directly saves on trust costs.

original · zh

@70Seven_Qi BlackRock背书直接省了信任成本

Ox糖豆 @Tabgdoueth · 15K

@70Seven_Qi is definitely worth paying attention to.

original · zh

@70Seven_Qi 确实值得关注

ShanShan 珊珊 @Geralt239411 ·

@70Seven_Qi With Blackstone's backing, the trading volume naturally increases.

original · zh

@70Seven_Qi 有黑石背书,量自然就起来了

苏颖|Nini🐈 @SCY_BTC · 14K

@70Seven_Qi This is pretty good.

original · zh

@70Seven_Qi 这个挺可以的

鹿宝🍑找炮友🍑点主页🍑 @NoviaCoverwjj6 ·

@70Seven_Qi 🍨 imaginative amazing 💬

樱花雨🍑找炮友🍑点主页🍑 @MarinaNixoldxe ·

@70Seven_Qi 🦁 jubilant honest 🤐

绵绵🍑找炮友🍑点主页🍑 @EdwinaHarofx78 ·

@70Seven_Qi 😭 blissful splendid 🤬

CatNarratives老三 @laosanhemao ·

@70Seven_Qi Teacher's writing is truly extremely detailed!

original · zh

@70Seven_Qi 老师是真的写的非常非常详细啊