→Yield as a Risk Signal: Part III
OUSG represents the permissioned onchain risk-free lane as a tokenized U.S. Treasury wrapper with high asset quality and short duration, but access is KYC-gated, limiting its role as a universal benchmark.
24h Change+0.0092%
All Time HighJun 2, 2026$115.43
All Time LowMar 22, 2023$95.09
Market Cap$514.52m
Fully Diluted Valuation$514.52m
Circ. Supply4.46m OUSG
CEX Volume$0
DEX Volume$0
Risk-management actions published about OUSG by tracked risk managers and governance contributors, newest first.
OUSG represents the permissioned onchain risk-free lane as a tokenized U.S. Treasury wrapper with high asset quality and short duration, but access is KYC-gated, limiting its role as a universal benchmark.
OUSG is a permissioned tokenized security backed by short-duration US Treasuries via the SHV ETF, with low insolvency risk due to highly liquid collateral, but custody relies on centralized providers like Coinbase and Clear Street, exposing it to regulatory and third-party risks. Governance is centralized with two entities holding significant voting power and a multi-sig controlling 88% of ONDO supply, while smart contracts had one high-severity audit issue resolved; liquidations require whitelisting, potentially delaying responses and increasing bad debt risk, though oracle manipulation is mitigated by daily price limits and upcoming Chainlink integration.
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Tracking 3 pools, average APY 3.54%

Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabOUSGShort-term US Government Securities | $274.18m | 3.54% | 3.54% | 3.45% | |||||
| open in new tabOUSGShort-term US Government Securities | $240.34m | 3.54% | 3.54% | 3.45% | |||||
| open in new tabOUSG | 🪂 | $38.82m | 0% | 0% | 0% |
Tracking 3 routes

Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabOUSG ➞ USDC | 🪂 | $2.66m | -4.48% | 0% | -4.87% | 92% | $38.82m | $0 | |
| open in new tabOUSG ➞ USDT | 🪂 | $1.69m | -4.65% | 0% | -5.05% | 92% | $38.82m | $0 | |
| open in new tabOUSG ➞ DAI | 🪂 | $755,684 | -4.72% | 0% | -5.13% | 92% | $38.82m | $0 |