Ondo Perps, the perpetual futures arm of tokenized asset protocol Ondo Finance, has racked up over $7 billion in cumulative trading volume roughly one month after its launch. The numbers behind the surgeDefiLlama data pegs cumulative perps volume at approximately $6.83 billion as of recent tracking, with the total crossing $7 billion shortly after. AdvertisementPart of what’s fueling the momentum is a collateral innovation that sets Ondo Perps apart from most derivatives venues. Ondo Stocks, the platform’s equity tokenization layer, provides the on-chain representations that feed into the perpetual futures engine. One wrinkle worth noting: Ondo Perps is not available to US users.