OCB — Quality Rating · Bond ETFs
BINCon Quality Rating
BINCon (Ondo Finance) scores 49/100 on OnChain Benchmark's RWA Quality Rating — rated Limited (methodology v1.6, as of Oct 5, 2026).
Latest onchain read Oct 5, 2026
Updated daily
Quality score
49
of 100 · Limited
Dimensions measured
4
of 4
Outstanding supply
$201.11K
as of Oct 5, 2026
Chains
3
with measured supply
Why BINCon scores 49
The biggest gap in BINCon's score is how concentrated its ownership is.
Each dimension's score is multiplied by its weight and summed: 48.90 of a possible 100, rounded to 49.
Composite
49 / 100
| Dimension | Score |
|---|---|
Holder Concentration Ownership is concentrated: the top 10 holders across all three of its chains (Ethereum, BNB Chain and Solana) own 99.9% of the free float. Upgrade factorA wider holder base, with the top 10 owning 80% or less (9 of 25). | 4 / 25 |
Structural Trust Custody is only partly verified: there is some independent confirmation, but not the full, itemized verification that earns top marks. The top regulatory standing needs SEC registration with a PCAOB-registered auditor. An admin can upgrade the contract without a timelock, controlled by a minimal multisig (such as 2-of-3). Upgrade factorCustody verified independently, with public reports. | 16 / 25 |
Redemption Liquidity Only onboarded institutions can redeem; the top score also needs a deep onchain market alongside it. Upgrade factorOnchain liquidity of at least 0.5% of supply (20 of 25). | 17 / 25 |
Disclosure Quality There is no independent way to check the holdings. The latest attestation is 7 days old, with 17 in the last six months. Upgrade factorIndependent confirmation of this token's own holdings, at least monthly. | 15 / 25 |
OCB Instrument
Outstanding supply
OCB Instrument
Rating history
Key facts
Issuer, rubric and methodology
- Issuer
- Ondo Finance
- Asset class
- Bond ETFs
- Rubric
- RWA Quality Rating
- Methodology
- v1.6
- Last scored
- Oct 5, 2026
- What it is
- Tokenized wrapper of the iShares Flexible Income Active ETF (BINC), an Ondo Global Markets bond ETF.
Chains
Share of measured supply by chain
With measured supply
3
| Chain | Share of measured supply |
|---|---|
| BNB Chain | 99.8% |
| Ethereum | 0.2% |
| Solana | <0.1% |
Evidence
Verified facts behind the rating
A sample of the verified facts behind BINCon’s score. The full diligence trail is in the terminal.
Facts shown
3
| Dimension | Finding | Verified |
|---|---|---|
| Disclosure Quality | Contract address verified on Ethereum: 0x88703c1e71f44a2d329c99e8e112f7a4e7dd6312 (primary deployment) Confirmed active onchain. | Aug 5, 2026 |
| Disclosure Quality | Contract address verified on BNB Chain: 0x940f442746d9ae699e63c378d52c4494ea02684f (BNB Chain deployment) Confirmed active onchain. | Aug 5, 2026 |
| Disclosure Quality | Contract address verified on Solana: mhZ69E1vDnAsQJXAwarLYSX5tmgeMajXBJ2rXAcondo (Solana deployment) Confirmed active onchain. | Aug 5, 2026 |
Cite this rating
Reference BINCon’s rating
Every rating carries its methodology version and a stable permalink, so a citation stays accurate after a later rescoring run.
OnChain Benchmark (2026). BINCon Quality Rating: 49/100 (Limited), as of Oct 5, 2026. Methodology v1.6. https://onchainbenchmark.com/instruments/binc-on
OnChain Benchmark (2026) 'BINCon Quality Rating', OnChain Benchmark, Limited, 49/100, methodology v1.6. Available at: https://onchainbenchmark.com/instruments/binc-on (Accessed: Oct 5, 2026).
@misc{ocb_binc-on_2026,
author = {{OnChain Benchmark}},
title = {{BINCon Quality Rating}},
year = {2026},
note = {49/100, Limited, methodology v1.6},
url = {https://onchainbenchmark.com/instruments/binc-on}
}The interactive terminal shows every verified fact behind BINCon's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.