Ondo U.S. Dollar Token
USDON
Product information
What is Ondo U.S. Dollar Token (USDON)?
Ondo U.S. Dollar Token is a stablecoin used in the Ondo Finance ecosystem and designed to be pegged to the US dollar. Tracked under the symbol USDon, the token serves, according to Ondo's documentation, as an intermediary token in purchases and redemptions involving Ondo Stocks, the tokenized stock product. In other words, it is positioned as part of a specific product infrastructure rather than as a general-purpose payment stablecoin.
Ondo operates a peg stability module smart contract that makes conversion between USDon and USDC easier. DefiLlama classifies USDon among fiat-backed dollar stablecoins. The token is available on Ethereum and BNB Chain; primary transactions are subject to Ondo's eligibility and identity verification requirements.
The dollar peg is a design goal and carries risks related to the issuer, the reserve structure and liquidity. The USDon price on Lzzo.com is based on DefiLlama's US dollar reference data and is for information only.
Sources: docs.ondo.finance, defillama.com, coingecko.com
- Name
- Ondo U.S. Dollar Token
- Symbol
- USDON
- Market
- Crypto
What to look for in the technical analysis of Ondo U.S. Dollar Token
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Technical indicators
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