📈 Tokenization is moving from simply putting assets onchain to building real, programmable capital markets. @PanteraCapital’s latest State of Tokenization report highlights several areas where @Ondo Finance is helping push that evolution forward: 📍Distribution: $USDY had the largest reported holder base among tokenized rates products, with nearly 18,000 addresses as of June 30. 📍Tokenized equities: @Ondo is highlighted across the report’s analysis of the rapidly growing onchain equity market which Ondo Finance continues to lead. 📍Perps: @OndoPerps launched in July with 24/7 exposure to stocks, ETFs and commodities, reaching $9B in cumulative volume and $100M in open interest within weeks of launch. 📍Onchain portfolios: Pantera highlights the launch of Ondo Intelligent Portfolios and our work with @BlackRock as an example of tokenization evolving from individual securities to entire investment strategies onchain. 📍TradFi connectivity: Oasis Pro’s connection to @The_DTCC Fund/SERV brings @Ondo into infrastructure that processes more than 85% of U.S. mutual fund transaction activity. 🌱 The bigger takeaway: issuance is only the beginning. 🏗️ The next phase of tokenization is about distribution, liquidity, composability, and connecting onchain assets to the infrastructure and use cases that make them truly useful. 🙌🏼 Proud to see @Ondo featured throughout the report as we continue building toward that future. 👏🏼 Great work by the @PanteraCapital team putting this together. 🚀