Ondo Perps Lists 3x OpenAI Pre-IPO Contract, Excludes US Persons
Ondo Perps adds a 3x OpenAI pre-IPO contract
Ondo Perps has listed a 3x perpetual contract linked to OpenAI pre-IPO exposure, according to The Defiant. A perpetual is a type of derivative that tracks an asset's price without an expiry date, and the 3x label means the position is designed to move three times as much as the underlying value.
The contract is separate from Ondo's fully funded OPAIPon spot note. The perpetual sets its own price and uses hourly funding payments, while the spot note is fully funded. US persons are excluded from the product.
How the perpetual differs from the spot note
- Ondo Perps listed a 3x OpenAI pre-IPO perpetual contract.
- The perp has its own pricing and hourly funding payments.
- The OPAIPon spot note is described as fully funded, unlike the perpetual.
- US persons cannot access the product.
Confirmed information
The Defiant reports that the 3x OpenAI pre-IPO contract has been added to Ondo Perps. It also reports the pricing and funding differences between the perpetual and the OPAIPon spot note, and the exclusion of US persons.
What is still unclear
The supplied material does not give launch timing, contract size, fees, or details on how the contract's price is set. It also does not explain how the exclusion of US persons is enforced.
Sources
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