Ondo V1 — Vaults & LaaS
Ondo launched in August 2021. Its first product was Ondo Vaults, a structured finance protocol on Ethereum. These vaults enabled investors to choose between enhanced returns or downside protection when providing liquidity to decentralized exchanges like Uniswap.
Later that year, Ondo launched Liquidity-as-a-Service (LaaS), an offering that helped token issuers ramp up liquidity on decentralized exchanges. LaaS paired stablecoin issuers with DAOs issuing governance tokens to bootstrap highly-liquid AMM trading pairs. Over ten leading protocols participated in the program, including Frax, Fei (Tribe), UMA, Synapse, and NEAR.
Between Community and LaaS Vaults, Ondo facilitated over $210M in total liquidity provided (TLP).
As DeFi yields compressed in 2022, the Ondo team decided to sunset Vaults and LaaS (together, "Ondo V1") to focus on our next-generation protocols. Ondo V2, encompassing Ondo Funds and Flux Finance at launch, went live in January 2023.
The legacy Ondo V1 website is still available for users who haven't withdrawn funds.