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Ondo Activates Chainlink Feeds for Tokenized US Stocks on Ethereum
Key Takeaways
- Ondo adopts Chainlink data for tokenized US stocks on Ethereum and introduces official price feeds for SPYon, QQQon, and TSLAon;
- Euler now accepts these tokenized stocks as collateral, which allows users to borrow stablecoins and access new financial use cases;
- Chainlink feeds give DeFi apps reliable on-chain pricing and corporate action data, which improves collateral decisions and risk control.
Ondo Finance has begun using Chainlink
This update brings official on-chain price feeds for SPYon, QQQon, and TSLAon. These tokens mirror the SPDR S&P 500 ETF, the Invesco QQQ ETF, and Tesla shares.
Ondo shared on February 11 that the new feeds are active on Euler. Users on Euler can now pledge these tokenized stocks as collateral and borrow stablecoins.
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This marks a shift from treating tokenized equities only as a way to track prices. They can support borrowing and other financial use cases.
The new link with Chainlink supplies dependable pricing information directly on-chain. DeFi services can use these numbers to decide how much collateral is needed and when liquidations should occur.
The feeds also include updates on corporate actions, such as dividends, so applications can reference current equity values.
More tokenized stocks and ETFs are expected later as oracle coverage grows and more protocols adopt the feeds. For the assets already listed, Sentora oversees the risk settings.
According to Ondo, tokenized stocks had a major gap before this change. They were easy to hold for exposure to market movements, but not widely accepted in lending markets.
Meanwhile, Chainlink plans to bring more of the US stock market onto blockchain networks. How? Read the full story.