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