0:01 welcome my name is jay sneaker i'm part
0:02 of the town hall electricity my ondo
0:05 finance and this video is on no finance
0:06 in a nutshell basically covering
0:07 everything you would want to know about
0:09 what we're doing at ondo i'll start with
0:11 touching on the idea behind undo finance
0:12 and then provide a short overview of our
0:14 product and success we've seen with it
0:16 so far and then i'll end by talking a
0:17 bit about what our company is doing next
0:19 and where we're heading ando is a very
0:20 young company that started actually
0:22 about a year ago with nate the founder
0:23 and ceo at the time was working on the
0:25 digital asset team at goldman sachs he
0:27 came up with idea by looking at two key
0:28 market trends that were happening at
0:30 that time first off institutional
0:31 investors were increasingly trying to
0:33 find ways to tap into d5 yields but
0:35 experienced many challenges in doing so
0:36 we realized that the main challenges
0:38 they experienced beyond issues with
0:40 custody or compliance challenges had to
0:42 do with the risks that they were facing
0:43 as a result of being in the d5 space
0:45 specifically d5 native risks that were
0:46 associated to the products that they
0:48 were using these included risks such as
0:50 impermanent loss that investors were
0:52 just not used to facing secondly a lot
0:54 of crypto native groups anything from
0:56 dao's to other token issuers were
0:57 looking for help with investment land
1:00 banking services they generally felt
1:02 that institutional investors even those
1:04 with crypto teams like goldman sachs
1:05 just weren't the right fit for them
1:07 given that they were very manual high
1:09 touch and had a little transparency so
1:11 the idea behind ando was to effectively
1:13 rethink what an investment bank could
1:14 look like if we built it from the ground
1:16 up using smart contracts in a definitive
1:17 way and to create something that would
1:19 be decentralized permissionless and
1:21 trustless all the goal of servicing
1:23 those two different stakeholders such as
1:25 dao's institutional investors and of
1:26 course other retail investors too
1:28 investment banks have a dozen of
1:29 different offerings the one we've
1:31 started with offering is a structured
1:33 product specifically one that's built on
1:34 top of decentralized exchanges like uni
1:36 swap so if you're an investor providing
1:38 liquidity on top of a decentralized
1:39 exchange you'd be putting down two
1:41 different assets at a time you'd be
1:43 earning trading fees and rewards and
1:45 exposed and permanent loss
1:47 essentially in a single position you'd
1:49 be exposed to a lot of different things
1:50 and this is generally not a good fit for
1:52 investors so at ondo what we do with a
1:53 structured product is decompose a
1:54 position like that and rebundle them
1:56 into what we call investment strategies
1:58 with different levels of risk
2:00 this means that as an investor depending
2:02 on your risk profile you can pick and
2:03 choose which tranches fit your portfolio
2:05 best we launched a beta version of this
2:08 product in august 2021 it was a guarded
2:10 launch and most of our vaults sold out
2:11 and we saw over 70 million dollars in
2:13 user deposits within the first month we
2:15 then launched the full version of
2:16 december and are now working on
2:18 expanding those offerings we're growing
2:19 our team to help us build out all the
2:21 new features we have in mind our company
2:23 was initially seven people back in
2:25 november and 18 as and now april this
2:28 month 75 of that being engineering so
2:29 very much an engineering focused culture
2:31 we're looking to get help from across
2:33 the stack from front end to back end and
2:34 api layers all the way to smart
2:36 contracts now in solidity and eventually
2:38 going to be in other languages like rust
2:40 for solana we're also hiring for other
2:43 areas like data infrastructure devops q
2:45 a and so on effectively any engineering
2:47 role we can hire for we're hiring for
2:49 our roles are pretty fluid internally
2:51 and we have specialists who are focusing
2:53 on a very specific stack or also
2:54 generalists who are touching on two or
2:56 three more areas depending on your level
2:58 seniority and experience you can expect
3:00 to have a mix of ic and em
3:02 responsibilities as an option too we
3:04 compensate very competitively too we
3:06 have a mix of base tokens plus equity
3:08 that we provide and we recently closed a
3:10 series a now with a total of 24 million
3:12 dollars raised from a mix of traditional
3:15 vcs like founders funds to crypto vcs
3:17 like pantera capital and also strategic
3:18 crypto institutions like coinbase and
3:21 dcg as well as many angel investors like
3:23 naval rabican if you resonate with what
3:24 we're building we'd love to hear from
3:26 you and explore the possibility of
3:27 having you join onto a finance feel free
3:29 to reach out to me or really anyone else
3:31 on our team for that matter we look
3:32 forward to hearing from you and i'm very
3:33 excited to get the chance to meet you soon
