Tokenized gold can now back your perp positions on Ondo

GLDon and SLVon Join Ondo's Collateral Lineup

@OndoPerps has enabled tokenized gold (GLDon) and silver (SLVon) as collateral for perpetual futures positions, claiming a first for the category. The addition lets traders hold the physical metal token and short the corresponding perp to capture funding rates, effectively running a basis trade without giving up spot exposure to the underlying commodity.

The move expands a collateral menu that already includes tokenized equity proxies SPYon and QQQon. The platform offers 24/7 perpetual contracts with up to 20x leverage. Ondo Perps says it has now cleared $6.5 billion in cumulative volume, with additional Ondo Stocks set to qualify as collateral in future updates.

Timing Aligns With Gold's Extended Run Higher

The launch lands as gold continues to trade near historically elevated levels. Trading Economics showed gold near $4,342 per ounce in mid-June 2026, still up more than 28% from a year earlier. That sustained strength gives a tokenized collateral product a natural audience among traders who already hold gold exposure and want to put it to work without liquidating.

For a long time, the on-chain derivatives market relied heavily on stablecoins as margin, requiring users to first convert tokenized assets into stablecoins before participating in derivatives trading, a process that is less efficient and leaves assets in silos without direct connectivity. By accepting GLDon and SLVon directly, Ondo Perps removes that conversion step for precious-metals holders.

@Ondo has signalled that more real-world asset collateral types are in the pipeline.

Sources:
Ondo Perps official press release via PR Newswire
TheStreet Crypto: Ondo Perps platform launch coverage
EBC Financial Group: Gold price record 2026 analysis