- Ondo Finance has expanded its Tesla, Google, Netflix and 27 more tokenized stocks to Hyperliquid.
- LayerZero is powering the bridge, giving the interoperability protocol a win after weeks of scrutiny.
Ondo Finance has announced that it is expanding its tokenized stocks to Hyperliquid. The 35 tokenized stocks and ETFs, including NVDAon, TSLAon, GOOGLon, CRCLon, SLVon, NFLXon, and BABAon, can now be transferred from Ethereum and BNB Chain to Hyperliquid’s HyperEVM via the Ondo Bridge.
Ondo tokenized stocks can now be bridged to Hyperliquid’s HyperEVM via @LayerZero_core.
Spot positions unlock advanced strategies for perp traders on applicable markets, such as basis trades and delta-neutral hedging.@Meltfinance and @felixprotocol are among the first HyperEVM… pic.twitter.com/fYqOcRV8k7
— Ondo Finance (@OndoFinance) May 11, 2026
Ondo Finance says the integrations will enable Hyperliquid users to execute advanced trading strategies, such as basis trades, funding arbitrage, and delta-neutral relative value positioning.
The team has revealed that Felix and Melt are two of the leading protocols already offering their users these tokenized assets. Felix, which is already integrated with Ondo, is offering its users more than 260 tokenized stocks and ETFs.
The tokenized assets derive their pricing from underlying listings on platforms such as NYSE and Nasdaq to avoid fragmented onchain liquidity and deliver consistent and efficient market conditions across the chains. After launching on Hyperliquid, users can now diversify to traditional markets and employ their advanced strategies onchain.
Following the announcement, Hyperliquid’s HYPE has posted a 2.5% drop. The token, trading for $41Â at the time of writing, has been mirroring the wider market trend dictated by large-cap coins.
This could change later in the year with the launch of a HYPE spot ETF by Grayscale, as ETH News reported last month. Bitwise and 21Shares have filed similar products tied to the Hyperliquid ecosystem. The SEC is yet to greenlight any of the products, which could mark a turning point for the coin.
LayerZero Admits to Mistake
Notably, the recent bridge is powered by LayerZero, the omnichain interoperability protocol that has been under heavy scrutiny in recent weeks. As ETHNews reported, the protocol was blamed for the KelpDAO attack that led to nearly $300 million being stolen from the DeFi platform.
After days of blame games and KelpDAO moving its assets to Chainlink, LayerZero has admitted that it made a mistake. In a statement, the protocol, which had been adamant that the exploit was caused by Kelp’s single-DVN setup, said:
“We believe developers should choose their own security configurations, but we made a mistake by allowing our DVN [decentralized verifier network used to verify the integrity of cross-chain messages] to act as a 1/1 DVN for high-value transactions, We didn’t police what our DVN was securing, which created a risk we simply didn’t see. We own that.”
The protocol now says that its DVN no longer supports 1/1 DVN configurations. Furthermore, it is implementing key improvements and upgrades to its systems to prevent future risks.
Since the KelpDAO incident, the protocol has been losing clients, with millions of assets being moved. Soon after KelpDAO, Solv said it would be migrating $700 million in Bitcoin assets to Chainlink’s Cross-Chain Interoperability Protocol (CCIP). Chainlink, which many view as a battle-tested alternative, has been the de facto destination for most clients.
The latest integration shows that despite the fall in faith in recent weeks, LayerZero remains a highly sought-after protocol in the market as different projects seek different solutions.
