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HYPE Ondo Perps adds $HYPE to its real asset derivatives platform
Ondo Perps now launches $HYPE perpetual contracts that allow traders holding institutional real-world asset collateral to gain leveraged exposure to the HyperliquidX ecosystem. This launch allows traders to use up to 10 times leverage to go long or short Hyperliquid L1's native tokens around the clock.
Hyperliquid is a Layer-1 blockchain that integrates decentralized exchanges and is best known for its perpetual contract transactions. As a native token of the Hyperliquid network,$HYPE is mainly used to ensure L1 security and participate in governance voting.
By incorporating $HYPE into Ondo Perps, traders can deploy directional exposure to the ecosystem without leaving the real asset collateral framework built by Ondo.
How the real asset mortgage model works
This launch reflects the completely different design concept of Ondo Perps from most online derivatives platforms. Ondo's core differentiation advantage is its collateral structure, which allows traders to deposit tokenized securities rather than just stablecoins.
The existing perpetual market for real assets forces traders into an inefficient mode: even if they already hold tokenized assets, they can only use stablecoins as collateral. This double collateral means that funds are locked in twice to obtain the same economic exposure, limiting the size of the position and doubling the cost of funds.
Ondo Perps uses a design similar to a master broker, allowing traders to directly use their existing holdings of tokenized stocks or U.S. Treasury bonds as margin without having to sell them first. By launching $HYPE within this framework, traders can now continue to reap gains from their tokenized stock exposure held as collateral while establishing leveraged positions in Hyperliquid native tokens.
The move comes as Ondo is committed to building a broader trading infrastructure amid growing interest on Wall Street in tokenization and all-weather markets. Ondo itself is already a major issuer of tokenized U.S. Treasury bonds and stocks.
During the week ended July 13, the transaction volume of real asset perpetual contracts on the Hyperliquid platform reached US$25.1 billion, accounting for 52% of the platform's total transaction volume of US$48.2 billion, marking the first time that the real asset market has surpassed the total transaction volume of all crypto categories on the platform.
The launch of $HYPE puts Ondo Perps at the intersection of this trend, combining crypto-native token exposure with a mortgage layer backed by real assets.
