MYR Group (Ondo Tokenized)

MYRGON Price

About MYR Group (Ondo Tokenized) (MYRGon)

MYRGon is a tokenized financial instrument that provides on-chain economic exposure to MYR Group (MYRG), a publicly traded US corporation specializing in electrical construction services.

• It enables non-US retail and institutional investors to access traditional US equity markets through blockchain technology.
• The token is designed as a total-return tracker, mirroring both the price movements and reinvested dividends of the underlying MYR Group stock.
• Holders benefit from 24/5 instant minting and redemption capabilities, ensuring deep liquidity sourced directly from traditional exchanges.

What Is MYR Group (Ondo Tokenized)

MYR Group (Ondo Tokenized) is part of the Ondo Global Markets ecosystem, a platform dedicated to bringing traditional public securities into the decentralized finance (DeFi) space. By tokenizing MYR Group (MYRG), Ondo Finance provides a digital representation of the asset that is freely transferable and usable across supported blockchain networks.

The token functions by giving holders economic exposure similar to owning the actual stock, including any dividends (net of withholding tax) which are automatically reinvested into the token's value. This mechanism allows users to hold a diversified portfolio of traditional equities within their crypto wallets, simplifying the bridge between legacy finance and the open economy.

What Makes MYR Group (Ondo Tokenized) Unique

• 24/5 Traditional Liquidity: Unlike many synthetic assets, MYRGon inherits liquidity from traditional markets, allowing for instant minting and redemptions during standard market hours.
• Total-Return Tracking: The token tracks the complete economic performance of MYRG, including price appreciation and dividend reinvestment, rather than just the spot price.
• Bankruptcy-Remote Legal Structure: The tokens are issued by Ondo Global Markets (BVI) Limited using a structure designed to maximize bankruptcy remoteness and protect token holder interests.
• Institutional Oversight: An independent third-party security agent holds a first-priority security interest in the collateral, while a verification agent reviews the backing daily for transparency.

What Can You Use MYR Group (Ondo Tokenized) for?

• Global Equity Exposure: Non-US investors can gain exposure to US mid-cap infrastructure companies without the need for a traditional US brokerage account.
• DeFi Integration: As a standard token on networks like Ethereum and Solana, MYRGon can be used as collateral in lending protocols or as a base asset for decentralized perpetual contracts.
• Efficient Value Transfer: The token allows for the peer-to-peer transfer of equity-linked value 24/7, bypassing the settlement delays common in traditional finance.

How Does MYR Group (Ondo Tokenized) Work?

MYR Group (Ondo Tokenized) operates as a digital wrapper for MYRG shares held in custody by US-registered broker-dealers. When a user mints MYRGon, the equivalent value in the underlying security is purchased and secured. The token issuance is managed through smart contracts on the Ethereum, BNB Chain, and Solana blockchains, which are foundational Layer 1 networks.

The platform utilizes a Security Agent to ensure that token holders have a perfected security interest in the underlying collateral. Daily attestations from a verification agent confirm that the number of tokens in circulation matches the assets held in custody, maintaining the 1:1 backing ratio required for stability and trust. This process is a core component of asset tokenization, which transforms traditional securities into digital assets.

Team Info and Investors

The project is developed by Ondo Finance, a leader in the Real World Assets space. The team includes finance professionals from major institutions, including a former Invesco ETF chief. Ondo Finance has established a broad ecosystem of partners, including infrastructure providers like Chainlink and LayerZero. While specific early-stage investors for the MYRGon token are not listed separately, the underlying platform is backed by prominent venture capital firms in the crypto industry.

Where can you buy MYR Group (Ondo Tokenized)?

MYRGON tokens have stopped trading 12 days ago on all exchanges listed on CoinGecko. Information will be updated if market activity resumes.

What is the daily trading volume of MYR Group (Ondo Tokenized) (MYRGON)?

The trading volume of MYR Group (Ondo Tokenized) (MYRGON) is $2.51 in the last 24 hours, representing a 0.00% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for MYR Group (Ondo Tokenized) (MYRGON)?

MYR Group (Ondo Tokenized) (MYRGON) reached an all-time high of $489.86 and an all-time low of $382.33. It’s now trading -19.10% below that peak and 3.60% above its lowest price.

What is the market cap of MYR Group (Ondo Tokenized) (MYRGON)?

Market capitalization of MYR Group (Ondo Tokenized) (MYRGON) is $141.62 and is ranked #7743 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of MYRGON tokens (0.36 tokens are tradable on the market today).

What is the fully diluted valuation of MYR Group (Ondo Tokenized) (MYRGON)?

The fully diluted valuation (FDV) of MYR Group (Ondo Tokenized) (MYRGON) is $141.62. This is a statistical representation of the maximum market cap, assuming total number of 0 ETH tokens are in circulation today.

How does the price performance of MYR Group (Ondo Tokenized) compare against its peers?

With a price increase of 0.00% in the last 7 days, MYR Group (Ondo Tokenized) (MYRGON) is outperforming the global cryptocurrency market which is down -2.30%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

How to add MYR Group (Ondo Tokenized) (MYRGON) to MetaMask?

Adding MYR Group (Ondo Tokenized) (MYRGON) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import MYRGON as a token. You can copy MYRGON’s contract address (0x1db23e5c0da6b960d0cf3d9939cbf50a2514bfc2) and import it manually, or if you've installed MetaMask's chrome extension, add MYRGON to MetaMask with one click on CoinGecko.

Add MYRGON to MetaMask.