What is OUSG's quality score?

OUSG (Ondo Finance) scores 64/100 on OnChain Benchmark's RWA Quality Rating — Developing, as of Oct 10, 2026 (methodology v1.6).

How is OUSG's quality score calculated?

OnChain Benchmark scores OUSG across four dimensions, each out of 25: disclosure quality (19/25), redemption liquidity (19/25), structural trust (24/25), and holder concentration (4/25). Each is multiplied by its methodology weight (structural trust ×1.4, holder concentration ×1.3, redemption liquidity ×0.9, disclosure quality ×0.4; weights sum to 4.0) and summed into the 64/100 composite — a weighted, not a plain, sum, so the four dimension scores do not add directly to the total. The full rubric is published at onchainbenchmark.com/methodology.

How concentrated is OUSG's ownership?

OnChain Benchmark scores OUSG's holder concentration 4/25 — one of the four dimensions of its quality rating, measured against free float (circulating supply outside issuer, custody, exchange, bridge and protocol wallets), across Ethereum and XRP Ledger. A higher score means ownership is more broadly distributed; a lower score means it is held by fewer wallets.

What does Developing mean?

Under OnChain Benchmark methodology v1.6, composite scores grade as Verified Capital (≥ 85), Institutional-grade (≥ 70), Developing (55–69), and Limited (below 55). OUSG scores 64/100, placing it in Developing.

OCB — Quality Rating · Tokenized treasuries

OUSG Quality Rating

OUSG (Ondo Finance) scores 64/100 on OnChain Benchmark's RWA Quality Rating — rated Developing (methodology v1.6, as of Oct 10, 2026).

Updated daily

Quality score

of 100 · Developing

Dimensions measured

of 4

Chains

with measured supply

Why OUSG scores 64

The biggest gap in OUSG's score is how concentrated its ownership is.

Each dimension's score is multiplied by its weight and summed: 63.50 of a possible 100, rounded to 64.

Composite

64 / 100

Dimension	Score	Weight	Why it scored this
Holder Concentration Ownership is concentrated: the top 10 holders across Ethereum and XRP Ledger own 97.4% of the free float on those chains. Upgrade factorA wider holder base, with the top 10 owning 80% or less (9 of 25).	4 / 25	×1.3	Ownership is concentrated: the top 10 holders across Ethereum and XRP Ledger own 97.4% of the free float on those chains. Upgrade factorA wider holder base, with the top 10 owning 80% or less (9 of 25).
Redemption Liquidity Retail investors can redeem, with some friction; the top score also needs a deep onchain market alongside it. Upgrade factorOnchain liquidity of at least 0.5% of supply (22 of 25).	19 / 25	×0.9	Retail investors can redeem, with some friction; the top score also needs a deep onchain market alongside it. Upgrade factorOnchain liquidity of at least 0.5% of supply (22 of 25).
Disclosure Quality Disclosure is current and regular, but it's voluntary rather than required by a regulator. Upgrade factorHoldings reporting required by a regulator.	19 / 25	×0.4	Disclosure is current and regular, but it's voluntary rather than required by a regulator. Upgrade factorHoldings reporting required by a regulator.
Structural Trust Upgrades to the contract go through a timelock controlled by a 4-of-7 (or stricter) multisig.	24 / 25	×1.4	Upgrades to the contract go through a timelock controlled by a 4-of-7 (or stricter) multisig.

OCB Instrument

Rating history

OUSG’s quality rating, measured daily.

Source: OCB Quality Ratings · OUSG · onchainbenchmark.comRecomputed daily · Oct 10, 2026

Key facts

Issuer, rubric and methodology

Issuer: Ondo Finance
Asset class: Tokenized treasuries
Rubric: RWA Quality Rating
Methodology: v1.6
Last scored: Oct 10, 2026
What it is: Tokenized share of an actively-managed short-term U.S. Treasury fund.

Chains

Share of measured supply by chain

With measured supply

Chain	Contract	Share of measured supply
XRP Ledger	rHuiXXjH…000000Explorer ↗	58.0%
Ethereum	0x1B19C1…Bbee92Explorer ↗	42.0%
Solana	i7u4r16T…MwzxNcExplorer ↗	Inactive — not counted

Supply scope: Excludes Polygon, Solana (not yet collected)

Evidence

Verified facts behind the rating

A sample of the verified facts behind OUSG’s score. The full diligence trail is in the terminal.

Facts shown

Dimension	Fact	Finding	Verified	Source
Holder Concentration	Address exclusion	Individual wallet. public block-explorer labels the outgoing tx destination as "Ondo Finance: OUSG Token". Funded from another labeled Ondo address (0x06F38733...6f937ceE8) 2 years ago. 446 protocol transactions. Two independent signals: label chain + funding provenance. Meets 90% threshold despite being an individual wallet.	Jun 1, 2026	Etherscan address page — Ondo label chain on outgoing txns + funding provenance from labeled Ondo address.
Holder Concentration	Address exclusion	Multi-signature wallet infrastructure contract — contract source is publicly verified. Infrastructure contract; not a holder in any economic sense.	Jun 1, 2026	Etherscan Contract tab — multi-signature wallet infrastructure source verified.
Holder Concentration	Address exclusion	Multi-signature wallet contract source is publicly verified. Protocol-controlled multi-signature wallet holding 16.37% of OUSG supply.	Jun 1, 2026	Etherscan Contract tab — multi-signature wallet source verified.
Holder Concentration	Address exclusion	Multi-signature wallet contract source is publicly verified. Protocol-controlled multi-signature wallet holding 7.07% of OUSG supply.	Jun 1, 2026	Etherscan Contract tab — multi-signature wallet source verified.
Disclosure Quality	Governance finding	The contract's admin is a multi-signature wallet 4-of-7 (a standard multi-signature wallet). 7 owners verified. Owners: 0x74a4C329...4C632173D, 0x189D409b...FE9457607, 0xECE6bC29...4737e5d0, 0x60F030d6...e2D95FB02, 0xaA1E4eef...A4B092f8e, 0x020679fF...7c1beD241, 0x6A95a204...E85594f46. 5 of 7 owners match USDY Safe — same Ondo keyholder set, separate Safe instance.	Jun 1, 2026	Etherscan address page — Smart Account by Safe label. Owners tab + requiring 4 signatures.
Disclosure Quality	Attestation source	Balance-sheet and account-statement PDFs embedded in Next.js RSC streaming payload. Machine-fetchable via RSC:1 header. 93 reports ingested over 6-month smoke test — 100% match rate.	May 31, 2026	Etherscan — RSC-rendered reserve report page inspected

Cite this rating

Reference OUSG’s rating

Every rating carries its methodology version and a stable permalink, so a citation stays accurate after a later rescoring run.

Plain

OnChain Benchmark (2026). OUSG Quality Rating: 64/100 (Developing), as of Oct 10, 2026. Methodology v1.6. https://onchainbenchmark.com/instruments/ousg

Harvard

OnChain Benchmark (2026) 'OUSG Quality Rating', OnChain Benchmark, Developing, 64/100, methodology v1.6. Available at: https://onchainbenchmark.com/instruments/ousg (Accessed: Oct 11, 2026).

BibTeX

@misc{ocb_ousg_2026,
  author = {{OnChain Benchmark}},
  title = {{OUSG Quality Rating}},
  year = {2026},
  note = {64/100, Developing, methodology v1.6},
  url = {https://onchainbenchmark.com/instruments/ousg}
}

Full diligence trail

The interactive terminal shows every verified fact behind OUSG's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.

Open in the terminal →Read the methodology →

Dimension

Score

Holder Concentration

Ownership is concentrated: the top 10 holders across Ethereum and XRP Ledger own 97.4% of the free float on those chains.

Upgrade factorA wider holder base, with the top 10 owning 80% or less (9 of 25).

4 / 25

Redemption Liquidity

Retail investors can redeem, with some friction; the top score also needs a deep onchain market alongside it.

Upgrade factorOnchain liquidity of at least 0.5% of supply (22 of 25).

19 / 25

Disclosure Quality

Disclosure is current and regular, but it's voluntary rather than required by a regulator.

Upgrade factorHoldings reporting required by a regulator.

19 / 25

Structural Trust

Upgrades to the contract go through a timelock controlled by a 4-of-7 (or stricter) multisig.

24 / 25

Chain

Share of measured supply

XRP Ledger

58.0%

Ethereum

42.0%

Solana

Inactive — not counted

Dimension

Finding

Verified

Holder Concentration

Individual wallet. public block-explorer labels the outgoing tx destination as "Ondo Finance: OUSG Token". Funded from another labeled Ondo address (0x06F38733...6f937ceE8) 2 years ago. 446 protocol transactions.

Two independent signals: label chain + funding provenance. Meets 90% threshold despite being an individual wallet.

Jun 1, 2026

Holder Concentration

Multi-signature wallet infrastructure contract — contract source is publicly verified. Infrastructure contract; not a holder in any economic sense.

Jun 1, 2026

Holder Concentration

Multi-signature wallet contract source is publicly verified. Protocol-controlled multi-signature wallet holding 16.37% of OUSG supply.

Jun 1, 2026

Holder Concentration

Multi-signature wallet contract source is publicly verified. Protocol-controlled multi-signature wallet holding 7.07% of OUSG supply.

Jun 1, 2026

Disclosure Quality

The contract's admin is a multi-signature wallet 4-of-7 (a standard multi-signature wallet). 7 owners verified. Owners: 0x74a4C329...4C632173D, 0x189D409b...FE9457607, 0xECE6bC29...4737e5d0, 0x60F030d6...e2D95FB02, 0xaA1E4eef...A4B092f8e, 0x020679fF...7c1beD241, 0x6A95a204...E85594f46. 5 of 7 owners match USDY Safe — same Ondo keyholder set, separate Safe instance.

Jun 1, 2026

Disclosure Quality

Balance-sheet and account-statement PDFs embedded in Next.js RSC streaming payload. Machine-fetchable via RSC:1 header. 93 reports ingested over 6-month smoke test — 100% match rate.

May 31, 2026

@misc{ocb_ousg_2026, author = {{OnChain Benchmark}}, title = {{OUSG Quality Rating}}, year = {2026}, note = {64/100, Developing, methodology v1.6}, url = {https://onchainbenchmark.com/instruments/ousg} }