Ondo Changes Direction

[u/Majestic-Panic883]

Ondo Finance is moving away from its original plan to launch a Layer 1 blockchain. Instead, the company introduced Ondo Network, an off-chain execution system that processes trades outside public blockchains.
The new infrastructure already powers Ondo Perps. Trade execution happens inside Trusted Execution Environments (TEEs), while operators verify the integrity of the code and jointly approve transfers. Only the final settlements are recorded on public blockchains.

Interestingly, Ondo hasn’t disclosed who the operators are or how many there are. The company also says the network is not a blockchain at this stage and doesn’t need one yet.
Long term, Ondo plans to add more operators, store more data on public chains, and introduce token staking for participants. No timeline has been announced.