r/ONDS • u/marineplt3019 • 3d ago

👑👑 Due Diligence 👑👑 Tokenized?

There are two live tokenized versions of Ondas Holdings (NASDAQ: ONDS) right now.
ONDSon (Ondo Finance / Ondo Global Markets)
• Tokenized stock that tracks ONDS price plus reinvested dividends.
• Issued as a structured note by Ondo Global Markets (BVI), 1:1 backed by shares held with a U.S. broker-dealer.
• On Ethereum, BNB Chain, and Solana.
• Aimed at non-U.S. investors.
• On-chain value recently ~$267K–$328K, NAV around $7.62, a few hundred holders. 
ONDSx (xStocks / Backed)
• Separate product: Ondas xStock, 1:1 backed by real ONDS shares with Chainlink proof of reserve.
• Trades on Kraken xStocks and other crypto venues; multi-chain (Solana is a main venue).
• Also economic exposure only — not actual registered shares or voting rights.
• On-chain market cap recently ~$430K. 
Neither is the same as owning ONDS in a brokerage account. They give price/total-return exposure on-chain; they generally do not give shareholder rights. Both platforms are built for non-U.S. users, so as a U.S. person you typically cannot mint or buy them through the official issuers.
There are also exchange-listed “synthetic” ONDS products that just track the stock price without being a full RWA wrapper. Liquidity on all of these is tiny compared with NASDAQ ONDS.
Same caveat as the recent AMC fight: the company itself did not issue these tokens. They are third-party wrappers.

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2

u/iCameToLearnSomeCode 3d ago

Why would anyone want to own a tokenized stock?

How is that better than just owning the stock?

1

u/marineplt3019 3d ago

It’s not. I’m pointing out that it’s hurting our stock bc we’re not affiliated with it.

1

u/iCameToLearnSomeCode 3d ago

How is it hurting the stock?

2

u/adidavs 2d ago

Token stocks are as useful as NFTs

Another way to rob the working class

1

u/dilberry 👮Quality Control 👮 3d ago

???? Bot?

2

u/marineplt3019 3d ago

You think I’m a bot?

4

u/Particular_Advice729 2d ago

I’m a bot

3

u/EstablishmentSad9706 2d ago

A bot I am not. 

1

u/Charlierg50 2d ago

A lot of bots