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Chapter · Master Ondo Finance

Review: Ondo

Tokenized US Treasuries: real-world yield on-chain, and how redemption really works.

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What you get asked

  1. What is a real-world asset (RWA) token, at its core?

    RWAs wrap real assets as tokens. The value comes from something that already exists off-chain, not from new supply.

  2. USDY is best described as…

    USDY is designed as a yield-bearing instrument backed by short-dated Treasuries and bank demand deposits, not an algorithm.

  3. The yield on a tokenized Treasury ultimately comes from the interest paid on short-term government ___ .

    Short-term Treasury bills pay interest, and that interest, minus fees, is the yield token holders receive.

  4. Match each risk to what it means for a tokenized Treasury

    Backed by Treasuries is only as safe as these four layers around the bonds. Each one is a real, separate failure point.

  5. At roughly 5% a year, about how much would €20,000 earn in a year before fees and tax? Answer in euros.

    5% of €20,000 is roughly €1,000 before fees and tax. Fees reduce it, and the real rate tracks T-bill rates, so treat it as an estimate.

  6. Before buying, why must you read a product's terms and check eligibility?

    Eligibility, costs and exit timing decide your real experience, and they differ by jurisdiction. Read your own terms before committing money. 🐜

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Tokenized US Treasuries: real-world yield on-chain, and how redemption really works.