Real-world assets / Multichain / ONDO
Ondo Finance
Tokenized real-world assets, including the USDY yield token, the qualified-access OUSG treasury fund and tokenized stocks.
THE OVERVIEW
What Ondo Finance does
Ondo Finance describes its aim as making institutional-grade financial products available onchain. Its documentation lists USDY, a tokenized note secured by US Treasuries; OUSG, a qualified-access US Treasuries token; Ondo Stocks, tokenized stocks and other assets for non-US investors; and Intelligent Portfolios, curated baskets delivered as a single token. The company separates an asset-management arm from a technology arm. [1]
USDY is available to qualifying non-US individual and institutional investors. Depending on issuance date it may be secured by short-term US Treasuries, shares of a short Treasury bond ETF or bank demand deposits. Yield shows up as an increasing redemption price; rUSDY is a rebasing wrapper that keeps a one-dollar price and instead pays yield as additional tokens. [2]
OUSG is open to investors eligible for Ondo’s qualified-access funds who have completed onboarding, and tokens can move freely between onboarded investors. It invests in funds from large asset managers alongside bank deposits and USDC, and offers instant minting and redemption around the clock within daily limits. [3]
IN PRACTICE
What people use it for
Hold a Treasury-backed yield token
USDY accrues yield through its redemption price for eligible non-US holders. [2]
Access a qualified fund token
OUSG gives onboarded investors exposure to Treasury funds with instant mint and redeem. [3]
Trade tokenized stocks
Ondo Stocks and Intelligent Portfolios represent equities and baskets as tokens for non-US investors. [1]
UNDERSTAND THE TECHNOLOGY
Key concepts
MARKET CONTEXT
ONDO market
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Official resources & sources
Dextape explanations based on the primary documentation below.