Ondo says it no longer plans to build Ondo Chain in the conventional sense. Its replacement is an execution environment designed for applications that need fast, private order handling while keeping asset transfers on public blockchains.
Execution and settlement
Ondo Perps is the first live application. Code runs inside a trusted execution environment, while a quorum of attestors approves the code and controls key material. The design aims to make the execution log replayable after the fact.
The launch does not remove concentrated components. Ondo says execution currently uses one high-performance enclave. A larger permissionless attestor set, onchain state commitments and independent watchers remain directions for later development.
System architecture
| Function | Current location | Operational effect |
|---|---|---|
| Order execution | Secure enclave | Fast and private, but not replicated across a public validator network |
| Code approval and keys | Multi-party attestors | No single operator should approve code or reconstruct a key alone |
| Asset transfers | Public blockchains | Settlement movements remain publicly verifiable |
Planned decentralisation
- A permissionless attestor set.
- Public-chain commitments for all settled state.
- Open external watchers that can replay and challenge transitions.
Ondo Network today
Ondo Perps
The live product already uses the network.
Attestors and watchers
Several mechanisms for wider independent verification remain planned.
Further context
- Publication of attestor identities and operating rules.
- Whether signed logs become available to independent watchers.
- Onchain state commitments beyond asset transfers.