OCB — Quality Rating · Bond ETFs
TLTon Quality Rating
TLTon (Ondo Finance) scores 65/100 on OnChain Benchmark's RWA Quality Rating — rated Developing (methodology v1.6, as of Oct 21, 2026).
Latest onchain read Oct 20, 2026
Updated daily
Quality score
65
of 100 · Developing
Dimensions measured
3
of 4
Outstanding supply
$18.72M
as of Oct 20, 2026
Chains
3
with measured supply
Why TLTon scores 65
The biggest gap in TLTon's score is how its custody is verified.
The three measured dimensions, each multiplied by its weight, total 44.1 of a possible 67.5. Rescaled to 100, that is 65.33, rounded to 65.
Composite
65 / 100
| Dimension | Score |
|---|---|
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. Upgrade factorIndependent confirmation of this token's own holdings, at least monthly. | 16 / 25 |
Holder Concentration It is not yet measured to our standard, so no concentration figure is published. | — / 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 21, 2026
- What it is
- Tokenized share of the iShares 20+ Year Treasury Bond ETF (TLT), 1:1 backed.
Chains
Share of measured supply by chain
With measured supply
3
| Chain | Share of measured supply |
|---|---|
| Ethereum | 98.7% |
| BNB Chain | 1.0% |
| Solana | 0.3% |
Evidence
Verified facts behind the rating
A sample of the verified facts behind TLTon’s score. The full diligence trail is in the terminal.
Facts shown
3
| Dimension | Finding | Verified |
|---|---|---|
| Disclosure Quality | Contract address verified on Ethereum: 0x992651bfeb9a0dcc4457610e284ba66d86489d4d (primary deployment) Confirmed active onchain. | Aug 10, 2026 |
| Disclosure Quality | Contract address verified on BNB Chain: 0xf69e40069ac227c11459e3f4e8a446b3401616b6 (BNB Chain deployment) Confirmed active onchain. | Aug 10, 2026 |
| Disclosure Quality | Contract address verified on Solana: KaSLSWByKy6b9FrCYXPEJoHmLpuFZtTCJk1F1Z9ondo (Solana deployment) Confirmed active onchain. | Aug 10, 2026 |
Cite this rating
Reference TLTon’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). TLTon Quality Rating: 65/100 (Developing), as of Oct 21, 2026. Methodology v1.6. https://onchainbenchmark.com/instruments/tlton
OnChain Benchmark (2026) 'TLTon Quality Rating', OnChain Benchmark, Developing, 65/100, methodology v1.6. Available at: https://onchainbenchmark.com/instruments/tlton (Accessed: Oct 21, 2026).
@misc{ocb_tlton_2026,
author = {{OnChain Benchmark}},
title = {{TLTon Quality Rating}},
year = {2026},
note = {65/100, Developing, methodology v1.6},
url = {https://onchainbenchmark.com/instruments/tlton}
}The interactive terminal shows every verified fact behind TLTon's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.