$ONDO The current issues encountered are actually the same as $UNI
The core business of ONDO is to transfer real-world assets onto the blockchain. Currently, it mainly has three products:
The first is USDY, essentially a "yield-bearing stablecoin," supported by U.S. Treasury bonds, charging a 0.17% management fee, with about $700 million locked up currently.
The second is OUSG, a tokenized short-term U.S. Treasury bond fund, charging a 0.15% management fee, which is more oriented towards institutions.
The third is Ondo Global Markets, which is the trading platform for RWA. It claims to connect traditional exchange liquidity, such as directly interfacing with Nasdaq's liquidity during U.S. stock trading hours, accessing alternative trading systems like Blue Ocean in pre-market and post-market, and relying on on-chain P2P matching during weekends and holidays. Theoretically, it can alleviate the fragmentation of on-chain liquidity, but the depth during non-trading hours remains limited. Currently, it is following a "compliance-first" approach, with strict KYC, primarily targeting non-U.S. users. The experience is better than most RWA platforms.
As for the ONDO token, it currently seems to be just a governance token; holding it allows you to participate in DAO voting, but there are no profit-sharing mechanisms, and it is not directly tied to fee income. The official statement suggests that in the future, they may consider linking ONDO with fee discounts and buybacks, but for now, it remains a promise. Therefore, the price of ONDO relies primarily on the market's imagination regarding RWA narratives and the expansion prospects of Ondo Finance, rather than real cash flow. UNI is currently the same; it is just a governance token, with no dividends from the project team and no binding of fee income for destruction and buybacks, which is why the price of UNI has not been able to rise significantly.
ONDO is indeed a leading RWA entity with actual business and income, but the ONDO token is still just a shell, and its value realization depends on whether they are willing to link business interests with the token. If one day ONDO's fundamentals change and the project team is willing to take a portion of the real income to buy back the token, then ONDO will replicate the trends of PUMP and HYPE. I believe this day is not too far away.
The core business of ONDO is to transfer real-world assets onto the blockchain. Currently, it mainly has three products:
The first is USDY, essentially a "yield-bearing stablecoin," supported by U.S. Treasury bonds, charging a 0.17% management fee, with about $700 million locked up currently.
The second is OUSG, a tokenized short-term U.S. Treasury bond fund, charging a 0.15% management fee, which is more oriented towards institutions.
The third is Ondo Global Markets, which is the trading platform for RWA. It claims to connect traditional exchange liquidity, such as directly interfacing with Nasdaq's liquidity during U.S. stock trading hours, accessing alternative trading systems like Blue Ocean in pre-market and post-market, and relying on on-chain P2P matching during weekends and holidays. Theoretically, it can alleviate the fragmentation of on-chain liquidity, but the depth during non-trading hours remains limited. Currently, it is following a "compliance-first" approach, with strict KYC, primarily targeting non-U.S. users. The experience is better than most RWA platforms.
As for the ONDO token, it currently seems to be just a governance token; holding it allows you to participate in DAO voting, but there are no profit-sharing mechanisms, and it is not directly tied to fee income. The official statement suggests that in the future, they may consider linking ONDO with fee discounts and buybacks, but for now, it remains a promise. Therefore, the price of ONDO relies primarily on the market's imagination regarding RWA narratives and the expansion prospects of Ondo Finance, rather than real cash flow. UNI is currently the same; it is just a governance token, with no dividends from the project team and no binding of fee income for destruction and buybacks, which is why the price of UNI has not been able to rise significantly.
ONDO is indeed a leading RWA entity with actual business and income, but the ONDO token is still just a shell, and its value realization depends on whether they are willing to link business interests with the token. If one day ONDO's fundamentals change and the project team is willing to take a portion of the real income to buy back the token, then ONDO will replicate the trends of PUMP and HYPE. I believe this day is not too far away.
