Ondo Short-Term US Government Treasuries
Tokenized LP interest in a Delaware fund of tokenized Treasury and money-market funds (State Street SWEEP, BlackRock BUIDL, Franklin BENJI, Fidelity FYOXX) plus USDC. Eligible holders can mint and redeem against USDC instantly, 24/7.
U.S. TreasuriesQualified purchasers onlyTransfer-restrictedIssued by Ondo Capital Management LLC · Platform Ondo Finance
Value
$135.0M
Stage
None
Below Stage 0: key facts not disclosedSingle-key powers
0
None critical · can freeze, pauseOracle age
12h 12m
On scheduleUsed as DeFi collateral
$0· 0 markets
47 sources cited on this page. Every public curated value must have one; schema validation fails the build otherwise.
Overview
| Field | Source | Note | Checked |
|---|---|---|---|
| access › investor type | docs.ondo.finance/trust-and-security | Accredited Investors and Qualified Purchasers, 3(c)(7), Reg D 506(c); US persons eligible | 13 Oct 2026 |
| access › minimum investment | docs.ondo.finance/qualified-access-products/ousg/overview | $5,000 instant mint/redeem; non-instant $100K subscribe, $50K redeem. Onchain minimumDepositUSD = 5,000. | 13 Oct 2026 |
| access › transfer restricted | docs.ondo.finance/addresses | kycRegistry() = OndoIDRegistryView 0x56a5…63e7, requirement group 1. Holders, including contracts and liquidators, must be registered in OndoIDRegistry 0xcf69…97df. | 13 Oct 2026 |
| value (AUM) | defillama.com | Onchain supply × price (tracked chains only) | 29 Oct 2026 |
Underlying Asset
| Field | Source | Note | Checked |
|---|---|---|---|
| underlying › holdings | 10k.nyxshcon.org/risk/ondo-ousg | Holdings table from ondo.finance/ousg, around 2026-09-30 / 10-01. The product page FAQ still says 'mostly BUIDL'. | 25 Oct 2026 |
| underlying › track record | riadefi.com/tokenized-assets/programs/ondo-ousg/ | First sale 2023-02-06. No NAV drop found. | 25 Oct 2026 |
Legal Claim
| Field | Source | Note | Checked |
|---|---|---|---|
| legal › vehicle type | docs.ondo.finance/trust-and-security | — | 13 Oct 2026 |
| legal › jurisdiction | www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001957431 | — | 13 Oct 2026 |
| legal › sec filings | www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001957431 | Form D 2023-01-11; D/A 2024-01-19, 2025-01-21, 2026-01-20 | 13 Oct 2026 |
Counterparties
| Field | Source | Note | Checked |
|---|---|---|---|
| counterparties › custodian | app.rwa.xyz/assets/OUSG | Custodian: Clear Street LLC. Crypto custodian: Coinbase Custody. Not stated on Ondo's own pages. | 25 Oct 2026 |
| counterparties › fund administrator | app.rwa.xyz/assets/OUSG | Fund administrator: NAV Fund Services | 25 Oct 2026 |
| counterparties › affiliated | docs.ondo.finance/trust-and-security | The general partner, Ondo I GP LLC, runs KYC/AML; no custody or administration role is held by Ondo. | 25 Oct 2026 |
| counterparties › settlement rails | docs.ondo.finance/qualified-access-products/ousg/overview | 'We currently support redeeming to USDC, PYUSD, RLUSD, or USD bank wire.' | 25 Oct 2026 |
| counterparties › operators | docs.ondo.finance/addresses | — | 25 Oct 2026 |
| counterparties › dependencies | 10k.nyxshcon.org/risk/ondo-ousg | — | 25 Oct 2026 |
Control
| Field | Source | Note | Checked |
|---|---|---|---|
| control › audits | docs.ondo.finance/audits | March 2025 Spearbit audit is the latest listed for Ondo Funds on Ethereum. | 25 Oct 2026 |
| control › bug bounty | immunefi.com/bug-bounty/ondofinance/information/ | — | 25 Oct 2026 |
| control › powers documented | docs.ondo.finance/trust-and-security | Trust page describes the fund structure but no onchain admin roles or multisig policy. | 25 Oct 2026 |
| control › chains | docs.ondo.finance/addresses | Each chain has its own issuance contracts; no bridge for OUSG. | 25 Oct 2026 |
| RWAOracleExternalComparisonCheck contract | etherscan.io/address/0x0502c5ae08E7CD64fe1AEDA7D6e229413eCC6abe | Read at block 26183453 | 13 Oct 2026 |
| CashKYCSenderReceiver contract | etherscan.io/address/0x1B19C19393e2d034D8Ff31ff34c81252FcBbee92 | Read at block 26183453 | 13 Oct 2026 |
| OndoIDRegistryView contract | etherscan.io/address/0x56A5D911052323D688C731d516530878557463e7 | Read at block 26183453 | 13 Oct 2026 |
| OUSG_InstantManager contract | etherscan.io/address/0x93358db73B6cd4b98D89c8F5f230E81a95c2643a | Read at block 26183453 | 13 Oct 2026 |
| OndoTokenRouter contract | etherscan.io/address/0x99B8d1D1c17a10CD1A878d1A44c11fd7E4daD7bC | Read at block 26183453 | 13 Oct 2026 |
| OndoOracle contract | etherscan.io/address/0x9Cad45a8BF0Ed41Ff33074449B357C7a1fAb4094 | Read at block 26183453 | 13 Oct 2026 |
| OUSGOracleWrapper contract | etherscan.io/address/0xADC4966E4F8CAAf12C777f07AA7A0Ae8D894cDf3 | Read at block 26183453 | 13 Oct 2026 |
| OndoIDRegistry contract | etherscan.io/address/0xcf6958D69d535FD03BD6Df3F4fe6CDcd127D97df | Read at block 26183453 | 13 Oct 2026 |
Transparency
| Field | Source | Note | Checked |
|---|---|---|---|
| freshness class | docs.ondo.finance/qualified-access-products/ousg/overview | Fund of tokenized Treasury money funds. | 25 Oct 2026 |
| transparency › reports | ondo.finance/ousg | Holdings by underlying fund, 'As of' the prior business day. No third-party attestation found. | 25 Oct 2026 |
Pricing
| Field | Source | Note | Checked |
|---|---|---|---|
| pricing › reference | docs.ondo.finance/addresses | RWAOracleExternalComparisonCheck, read by InstantManager through OndoOracle and OUSGOracleWrapper. setPrice is held by three issuer Safes (3/5, 3/6, 2/6). Each update must stay within ±74 bps of the Chainlink SHV move and 200 bps absolute, at least 23h apart. Updates every business day (weekends skipped in the RWAExternalComparisonCheckPriceSet logs). USDC is hardcoded at $1.00 in OndoOracle for instant mint and redeem. | 13 Oct 2026 |
| pricing › staleness detectable | etherscan.io/address/0x0502c5ae08E7CD64fe1AEDA7D6e229413eCC6abe#code | getPriceData() returns the price timestamp. | 25 Oct 2026 |
| pricing › loss recognition | etherscan.io/address/0x0502c5ae08E7CD64fe1AEDA7D6e229413eCC6abe#code | Daily price, bounded against the SHV ETF. | 25 Oct 2026 |
Exit
| Field | Source | Note | Checked |
|---|---|---|---|
| exit › redemption › available | docs.ondo.finance/qualified-access-products/ousg/overview | Instant onchain redeem to USDC through OUSG_InstantManager, or non-instant through Ondo support | 13 Oct 2026 |
| exit › redemption › who can redeem | docs.ondo.finance/qualified-access-products/ousg/overview | Onboarded investors registered in OndoIDRegistry | 13 Oct 2026 |
| exit › redemption › settlement | ondo.finance/ousg | Instant, 24/7, 0% fee. Non-instant timing is not public. | 13 Oct 2026 |
| exit › redemption › gates or suspension | docs.ondo.finance/qualified-access-products/ousg/instant-limits | OndoRateLimiter 0x98db…003c at block 26,261,719: globalRedemptionLimits $50M and globalSubscriptionLimits $100M per 24h. The docs page says $50M for both, plus $25M per investor per 24h (per-investor limits not read onchain). Larger amounts go through non-instant requests. pauseRedeem/pauseSubscribe are held by a 1-of-9 Safe (0x2e55…a2cc). Fund-level suspension terms are in the non-public offering documents. | 24 Oct 2026 |
| exit › dealing | docs.ondo.finance/qualified-access-products/ousg/overview | Instant 24/7 mint and redeem; non-instant requests on business days. | 25 Oct 2026 |
| exit › notice days | docs.ondo.finance/qualified-access-products/ousg/overview | — | 25 Oct 2026 |
| exit › lockup days | docs.ondo.finance/qualified-access-products/ousg/overview | Instant redemption from the first day. | 25 Oct 2026 |
| exit › daily cap usd | docs.ondo.finance/qualified-access-products/ousg/instant-limits | The $50M/day limit applies to instant redemptions; larger amounts go through non-instant requests. | 25 Oct 2026 |
| exit › minimum usd | docs.ondo.finance/qualified-access-products/ousg/overview | $5,000 instant; $50K non-instant. | 25 Oct 2026 |
| exit › fee bps | app.rwa.xyz/assets/OUSG | — | 25 Oct 2026 |
| exit › liquidators | docs.ondo.finance/qualified-access-products/ousg/overview | Only onboarded investors can redeem, transfer or receive OUSG. | 25 Oct 2026 |
| exit › instant › daily cap usd | docs.ondo.finance/qualified-access-products/ousg/instant-limits | $50M global instant-redemption limit per 24 hours. | 25 Oct 2026 |
| top holders | eth.blockscout.com/token/0x1B19C19393e2d034D8Ff31ff34c81252FcBbee92?tab=holders | Top 10 wallets on Ethereum | 25 Oct 2026 |
| DEX sell quotes | kyberswap.com | $1M, $5M and $10M sells into USDC, against NAV | 25 Oct 2026 |
DeFi exposure
| Field | Source | Note | Checked |
|---|---|---|---|
| lending markets | app.morpho.org | Morpho API, Aave pools onchain | 29 Oct 2026 |