Hyperliquid

Ondo

<h2 id="ondo-perps-adds-a-href-https-x-com-search-q-24hypesrc-cashtag_click-rel-noopener-noreferrer-nofollow-hype-a-to-its-rwa-derivatives-platform">Ondo Perps Adds <a href="https://x.com/search?q=%24HYPE&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$HYPE</a> to Its RWA Derivatives Platform</h2>
<p><a href="https://x.com/OndoPerps" rel="noopener noreferrer nofollow">@OndoPerps</a> has listed $HYPE perpetual futures, opening leveraged exposure to the <a href="https://x.com/HyperliquidX" rel="noopener noreferrer nofollow">@HyperliquidX</a> ecosystem for traders who hold institutional-grade real-world asset collateral. The listing allows traders to go long or short on the native token of the Hyperliquid L1 with up to 10x leverage, around the clock.</p>
<p><cite>Hyperliquid is a Layer-1 blockchain with an integrated decentralized exchange, most known for perpetual futures trading.</cite><cite>$HYPE is the native token of the Hyperliquid network, used for securing the L1 and governance voting.</cite> The addition of $HYPE to Ondo Perps gives traders a way to gain directional exposure to that ecosystem without leaving the RWA collateral framework that Ondo has built.</p>
<h2 id="how-the-rwa-collateral-model-works">How the RWA Collateral Model Works</h2>
<p>The listing reflects a broader design philosophy that sets Ondo Perps apart from most on-chain derivatives venues. <cite>Ondo's main differentiator is its collateral structure, which lets traders post tokenized securities rather than only stablecoins.</cite><cite>Existing RWA perpetual markets force traders into an inefficient model where they can only post stablecoins as collateral, even if they already hold the tokenized asset. This double-collateralization means capital is locked up twice for the same economic exposure, limiting position sizing and doubling the cost of capital.</cite></p>
<p><cite>Ondo Perps uses a prime-brokerage-style design that lets traders use the tokenized equities or US Treasury tokens they already hold directly as margin, without selling them.</cite> By listing $HYPE within that framework, traders can now back a leveraged position on Hyperliquid's native token while continuing to earn yield from tokenized equity exposure held as collateral.</p>
<p><cite>The move comes as Ondo, already a major issuer of tokenized US Treasuries and equities, works to build broader trading infrastructure amid growing Wall Street interest in tokenization and 24/7 markets.</cite><cite>In the week of July 13, perpetual futures on real-world assets generated $25.1 billion in volume on Hyperliquid, representing 52 percent of the platform's $48.2 billion total and marking the first time RWA markets out-traded every crypto category on the venue combined.</cite> The $HYPE listing positions Ondo Perps at the crossroads of that momentum, combining crypto-native token exposure with an RWA-backed collateral layer.</p>
<p><em>Sources:</em><br><a href="https://ondo.finance/blog/introducing-ondo-perps" rel="noopener noreferrer nofollow">Ondo Finance: Introducing Ondo Perps</a><br><a href="https://www.coindesk.com/business/2026/07/28/ondo-drops-tokenized-asset-blockchain-plans-for-private-high-speed-trading-network" rel="noopener noreferrer nofollow">CoinDesk: Ondo drops blockchain plans for private high-speed trading network</a><br><a href="https://www.cryptopolitan.com/ondo-finance-prepares-rwa-perpetual-contracts/" rel="noopener noreferrer nofollow">Cryptopolitan: Ondo Finance prepares RWA perpetual contracts platform</a></p>

Ondo Perps Lists Hyperliquid's $HYPE to Scale RWA-Backed Derivatives

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