Ondo Short-Term U.S. Government Bond Fund

OUSG is a tokenized fund token issued by Ondo Capital Management, a subsidiary of Ondo Finance, that represents a share in a portfolio composed predominantly of the iShares Short Treasury Bond ETF alongside a small portion of USDC and US dollars held for liquidity. It is designed to bring exposure to short-term US government bond yields onto public blockchains, making an asset class traditionally accessible only to institutional investors available in tokenized form. The stated problem it addresses is the difficulty of accessing low-risk, dollar-denominated yield instruments directly on-chain.

OUSG tokens exist across the Ethereum, Solana, and Polygon ecosystems, with each token representing a proportional interest in the underlying fund managed by Ondo Capital Management. When investors subscribe, the fund acquires shares of the underlying short-term Treasury ETF, and the token's value reflects the net asset value of those holdings. No consensus algorithm is recorded for this asset, consistent with its nature as a tokenized fund rather than a native blockchain protocol.

The data stored for OUSG does not include a fee stream, fee rate, or revenue figure, which means fee-based measures that this site calculates for other assets cannot be reported here. The economics of the fund are governed by the terms of Ondo Capital Management's fund structure rather than by an on-chain protocol fee mechanism. The circulating supply stands at approximately 2,728,012 tokens at a price of 116.90 USD, giving a market capitalisation of roughly 318,917,055 USD at the point this data was recorded, and fully diluted valuation equals market capitalisation because 100 percent of supply is in circulation with no maximum supply cap recorded.