Ondo price

$ONDO has its own category on @coingecko #BULLISH

We just sent our Page III update to Chapter One limited partners. I can't share everything, but I wanted to open source a few of the most interesting ideas: 1. Take our three most recent core investments and map out the long-standing relationships, and it’s clear that venture capital is a game of compounding relationships for those who love the “people” part of this business: Erebor – Palmer Luckey’s new bank for innovation industries, incubated alongside @JTLonsdale and others. HyperBeat (@0xHyperBeat) – building decentralized finance products in the Hyperliquid ecosystem, introduced to us by the @ether_fi team (we co-led their seed three years ago). [Company 3 redacted] – another example of how long-term trust and networks convert into opportunity. The average duration of these relationships is 9.7 years. We spend our time flying around the world chasing new deals and packing our calendars with meetings, but the real edge often comes from doubling down on the relationships we’ve already built, and the people we already trust. 2. Our first Page III thesis is The Software Factory. AI applications and infrastructure have revolutionized how engineers, designers, and product teams build software and do technical and creative work across industries. As former product leaders, designers, and engineers ourselves, we have both the insight to understand these shifts and the DNA to win some of the most important deals. Portfolio companies like @supabase (Page One) have executed against this thesis and become important parts of the AI software factory. We see the same dynamic with @antimetal (Page Two), which is building automation for deployment. Their thesis is simple: writing code is no longer the hard part, but maintaining software remains remarkably complex. We’ve continued to advance this thesis in 2025 through our recent investments in @better_auth (Page III), @alexcodes_ai (Page Two), @ragieai (Page Two), and @rork_app (Page Three). An extension of our Software Factory thesis we’re exploring is how its core principles apply beyond pure software. While software engineers naturally build tools to optimize their own workflows, similar efficiency gains are emerging in vertically integrated, software-driven startups in manufacturing and other physical industries. Despite major advances in AI, its impact on the real world has been limited so far. I’m 20 minutes from El Segundo, where aerospace, defense, robotics, and manufacturing are colliding, and the pace of change is obvious. 3. Our second Page III thesis is Mainstream Blockchain. If you study the product roadmaps of traditional fintech leaders like Robinhood or Stripe, much of their near-term focus is on two things: (1) integrating stablecoins and (2) tokenizing new asset classes. @stripe just announced Tempo, an EVM-compatible layer 1 blockchain for payments. Robinhood launched Robinhood Stock Tokens, which allow users to purchase tokenized contracts that follow the prices of publicly traded stocks and ETFs. We have great exposure to tokenization through prior funds, as we were seed investors in @OndoFinance (Page One), a project valued at around $9.5B today. This week, ONDO launched its tokenized equity platform offering over 100 US stocks and ETFs on Ethereum. Even so, crypto penetration remains low on a relative basis and institutionalization has just begun. Global equities are valued at roughly $110 trillion, while crypto is under $4 trillion, just 3.4%. If that figure grows to even 10%, we’re looking at an $11 trillion market, or ~3x from here. /// If this is interesting for X folks, I'll try to share more later. Thanks, JMJ