Flux Finance is a decentralized lending protocol built by the Ondo Finance team.
The protocol is a fork of Compound V2 with additional functionality to support both permissionless (e.g. USDC) and permissioned (e.g. OUSG) tokens. Permissions are enforced on a per-asset basis. For example, a USDC lender won't have any restrictions, but a USDC borrower using OUSG as collateral will need to satisfy OUSG's permissions.
Similar to Compound, Flux enables overcollateralized lending and borrowing in a peer-to-pool (p2pool) model.