Ondo Foundation, a major player in the decentralized finance (DeFi) sphere, recently unveiled its innovative Ondo Points program along with plans to unlock ONDO tokens. These significant initiatives reflect Ondo’s commitment to democratize finance and increase transparency in the global financial landscape.
Ondo Points Program – A vehicle to promote community engagement
Launched on January 8, 2024, the Ondo Points program is tailored to boost community engagement and raise awareness of the Ondo Ecosystem’s offerings. This program, comprising three separate campaigns, is a strategic move to drive active participation while fostering a sense of community and collaboration among users.
Campaign 1: Competition for wasted interest on stablecoins
This campaign focuses on the underutilization of stablecoins like USDC and USDT in on-chain wallets, resulting in billions of dollars in lost interest. Participants holding uninvested USDC or USDT from January 26, 2023 until the end of 2023 are eligible to earn points by claiming them before March 31.
Campaign 2: Ondo Community
Acknowledging the support of over 81,000 community members, this campaign allows everyone in the Ondo community to earn points. This includes activities on Twitter, Discord and Telegram, with extra points for CoinList buyers who claim their ONDO tokens by March 31st.
Campaign 3: Ondo Ecosystem
This campaign rewards participation in the Ondo ecosystem in 2024, covering DAO management, Flux Finance lending, USDY holding and mining, and the use of Ondo assets in DeFi protocols.
ONDO Token Unlock Plan – Alignment with Future Finances
The plan to unlock ONDO tokens, proposed on December 27, 2023, marks a major step towards aligning the community with the vision of open, transparent and efficient global finance. The ONDO token plays a crucial role in the governance of the Ondo DAO and the Flux Finance protocol. The plan details the initial circulating supply of ONDO tokens at approximately 14.3% of the maximum supply of 10 billion, with over 85% initially locked, focusing on long-term alignment between contributors, investors and ecosystem participants.
Implications and future perspectives
The introduction of the Ondo Points program and the plan to unlock ONDO tokens are indicative of Ondo’s proactive approach to fostering community engagement and driving innovation in the DeFi sector. These initiatives not only encourage active participation, but also promise to improve the utility and value of the ONDO token in the wider DeFi ecosystem.
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