Ondo Finance has begun using Chainlink
as the data source for its tokenized US stock products on Ethereum
.
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.
