RWA protocol Ondo Finance token issuance organization launches proposal to unlock ONDO tokens

On December 28th, it was announced that the RWA protocol Ondo Finance and its affiliated organization, the Ondo Foundation, have proposed unlocking the ONDO token. ONDO will serve as the governance token for Ondo Finance, realizing its vision of decentralized governance.

According to the ONDO token economics, the total supply of ONDO is 10 billion, with the following distribution: community access sales: 198,884,411 (~2.0%); ecosystem growth: 5,210,869,545 (~52.1%); protocol development: 3,300,000 (33.0%); private placement: 1,290,246,044 (~12.9%).

It is reported that the Ondo Foundation was established in 2022 and is an independently managed non-profit foundation company based in the Cayman Islands. The foundation acquired the ONDO token issuance rights from Ondo Finance. In mid-2022, the Ondo Foundation sold ONDO tokens to over 18,000 individuals through its subsidiary on CoinList.