If you hold
$ONDO , seeing BlackRock next to Ondo feels good.
Same here. But a quiet question probably crossed your mind too:
"Okay… but what do I get out of it?"
Fair question.
BlackRock built the strategies behind Ondo's first three Intelligent Portfolios. KakaoPay Securities signed an MOU to explore tokenized Korean stocks. That's real progress for Ondo, the company.
But ONDO, the token, is a governance token. It doesn't automatically capture that growth.
It's like having a seat at the residents' meeting while the rent goes to the landlord. The meeting matters. It's just not the rent.
Supply adds to the doubt. About half of the 10B ONDO is already unlocked, and roughly 17-19% of total supply unlocks on Jan 18, 2027.
A fee switch could change the picture. But how it's built matters: revenue paid to holders, or used for buybacks? Those are two very different tokens.
I'm not bearish on Ondo. The RWA growth is real. I'm just separating Ondo's success from ONDO's value capture.
Another partnership won't answer that. The token design will.
Not financial advice.
#ONDO #RWA #Tokenization #ZeroHunter #ZeroResearch $GMX $RAY