OCB — Quality Rating · Bond ETFs
HYGon Quality Rating
HYGon (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
$1.03M
as of Oct 5, 2026
Chains
3
with measured supply
Why HYGon scores 49
The biggest gap in HYGon'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 HYGon scores 4 of 25 on Holder Concentration. | 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
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 iBoxx $ High Yield Corporate Bond ETF (HYG), an Ondo Global Markets bond ETF.
Chains
Share of measured supply by chain
With measured supply
3
| Chain | Share of measured supply |
|---|---|
| Ethereum | 86.0% |
| BNB Chain | 14.0% |
| Solana | <0.1% |
Evidence
Verified facts behind the rating
A sample of the verified facts behind HYGon’s score. The full diligence trail is in the terminal.
Facts shown
3
| Dimension | Finding | Verified |
|---|---|---|
| Disclosure Quality | Contract address verified on BNB Chain: 0x0dae81a905b645a3d1e67129b89cd0acda224e9a (BNB Chain deployment) Confirmed active onchain. | Aug 5, 2026 |
| Disclosure Quality | Contract address verified on Ethereum: 0xeD3618Bb8778F8eBBe2f241Da532227591771D04 (primary deployment) Confirmed active onchain. | Aug 5, 2026 |
| Disclosure Quality | Contract address verified on Solana: c5ug15fwZRfQhhVa6LHscFY33ebVDHcVCezYpj7ondo (Solana deployment) Confirmed active onchain. | Aug 5, 2026 |
Cite this rating
Reference HYGon’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). HYGon Quality Rating: 49/100 (Limited), as of Oct 5, 2026. Methodology v1.6. https://onchainbenchmark.com/instruments/hyg-on
OnChain Benchmark (2026) 'HYGon Quality Rating', OnChain Benchmark, Limited, 49/100, methodology v1.6. Available at: https://onchainbenchmark.com/instruments/hyg-on (Accessed: Oct 5, 2026).
@misc{ocb_hyg-on_2026,
author = {{OnChain Benchmark}},
title = {{HYGon Quality Rating}},
year = {2026},
note = {49/100, Limited, methodology v1.6},
url = {https://onchainbenchmark.com/instruments/hyg-on}
}The interactive terminal shows every verified fact behind HYGon's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.