Ondo Perps

• There is a points programme, and we had it wrong: they give «a fixed supply of 5 million points each week for the duration of the program». It is not a growing pot: it is a fixed pie split among everyone.
• Points are not earned by trading alone: they are allocated by «a score-weighted share of weekly trading volume and open interest». Holding a position open counts, not just opening and closing.
• Beyond points they pay money: they credited 150,000 USDC after the first week, say the pool is «set to grow over the course of the program» and as of 4-Aug-2026 declared «over $1 million has been paid out to date». Epochs run Tuesday to Monday, paid within 48 hours.
• CAREFUL, THIS EXPIRES ON 13 NOVEMBER: the 50% fee discount ends that day at 14:00 UTC. Today, maker 0.01% and taker 0.025%; after that, the base rate is 0.02% and 0.05%, with cheaper tiers from $3M of 14-day volume.
• There is no announced Ondo Perps token, and no points-to-token conversion, in any of their own sources: not the blog, not the docs, not the terms. The ONDO already trading belongs to Ondo Finance and they do not link it to the points programme.
• And something that is in no documentation and we have only seen on their Telegram channel: «Rewards for Ondo Points earned before April 1, 2026 are now available to claim». That belongs to Ondo Finance’s early campaigns, now closed, not to Ondo Perps. If you were in those, the window is open now.

They do not publish how many points each dollar of volume gives, nor how much open interest weighs against volume: only that it is «a weekly weighted share» of both. Searched on Aug 25, 2026 in their docs, their blog and their Telegram channel.

• 5 Nov · did not say which markets count for the liquidity pool → for the liquidity pool, stocks, indices, ETFs, commodities, BTC and ETH count
• 30 Oct · the 50% fee discount was «for a limited time», with no end date → Ondo Perps' 50% fee discount ends on 13 November 2026 at 14:00 UTC; from then on, volume tiers with a base of 0.02% and 0.05%.
• 28 Oct · three weekly USDC pools with no amount per pool → Ondo Perps raises its weekly reward to 220,000 USDC in three pools; the liquidity pool carries 100,000 USDC a week for orders resting within 25 basis points of the mid price.
• 21 Oct · a single weekly USDC pool → Ondo Perps changes its weekly USDC reward from 26 Oct: three pools instead of one, the first for those resting maker orders near the price. They have not yet published how much each holds.
• 14 Oct · there was no campaign for new accounts → Ondo Perps gives new accounts back up to 75% of crypto perp fees, by volume and capped at $500, from 13 to 20 October.
• 7 Oct · the entry did not have the October spot campaign → Spot campaign until 13 October: 5 to 100 USDC for funding and trading tokenised stocks, which also pay no fees until 28 October.
• 1 Oct · we offered $20 in credit until 30 Sep → Ondo Perps’ welcome promotion ($20 in credit, until 30 Sep) has ended; everything else stays the same.
• 29 Sep · there were only perps; the risk section said there was no points programme → Ondo Perps opens spot trading in stocks with zero fees until 28 October. And the risk section is corrected: there are points; what is missing is a token and a conversion ratio.
• 21 Sep · the entry knew there was $20 for a new account until 30 September, and nothing else → The $20 is not cash: it is trading credit paid when the campaign ends, non-withdrawable and expiring after 30 days. And the campaign closes on 30 Sep, or sooner if the $40K cap is reached.
• 19 Sep · the entry had the $20 bonus for the new account since 16 Sep, with no closing date → The $20 bonus for the new account closes on 30 September 2026.
• 18 Sep · the entry did not say when the week that pays the 175,000 USDC closes → The week runs from Tuesday 00:00 UTC to Monday 23:59 UTC and is paid into the account within 48 hours, nothing to collect.
• 17 Sep · the most recent weekly pool on record was the first, $150,000 USDC → As of mid-September 2026 the weekly pool is $175,000 USDC, «for a limited time only».
• 16 Sep · on the link we were only recording the 5% fee discount → Whoever comes in with a code also gets $20 if they deposit $100 and trade $500 of volume within 14 days. Their 15 September notice does not say in what form it is paid nor how long it lasts.
• 23 Aug · our entry said «no published points programme» → Our correction. Plus a missing warning: the 50% fee discount is «for a limited time», with no published end date.
• 21 Aug · verified: no points program; product on «Coming soon» → open: public beta trading, and a fee discount for whoever comes in on a link
• 14 Aug · — → verified: no points program; product on «Coming soon»
• 23 Jul · we said there was no published points programme → They announce the points programme: 5 million fixed per week, by volume and open interest. The first drop counts activity from 2-Jun-2026.
• 17 Jul · not on record in our entry → The weekly USDC pool starts: $150,000 after the first week, with epochs running Tuesday to Monday.

The points programme leaves out the US, Panama «and other non-eligible jurisdictions», which they do not enumerate. The platform's Terms add Canada, Russia, Iran, Ukraine, North Korea, Venezuela, Afghanistan, Cuba, Somalia, Sudan, South Sudan, Crimea, Libya, Myanmar and Belarus, plus the UN, US, EU, UK and Panama sanctions lists. The EU is not excluded. In the European Economic Area the collateral requires professional client or qualified investor status; in Brazil, qualified investor.

It is in public beta and trading; their home now says «Trade Now»

The decisive fact: there are points and they do publish the arithmetic — 5 million fixed per week, allocated by volume and open interest — but what actually pays is the weekly USDC pool, which by early August had over a million paid out. And the 50% fee discount has an end date: 13 November 2026 at 14:00 UTC.

X: x.com/OndoPerps

Docs: docs.ondoperps.xyz

Checked by us in these sources on 2026-11-09