Ondo Short-Term U.S. Government Bond Fund

OUSG is a tokenized product offered by Ondo Finance that represents, on the blockchain, a share in a fund investing in short-term U.S. government debt instruments. Launched in January 2023, OUSG is not a Treasury bill itself; it represents a share in a structure that holds its assets mainly in tokenized U.S. Treasury money market funds and in cash-like instruments for liquidity.

Access to the product is restricted: Ondo's documentation describes OUSG as a Treasury token open to qualified access, and subscribing requires passing identity verification and meeting certain investor qualifications. Eligible users can mint or redeem OUSG with stablecoins such as USDC. The token's value is designed to rise over time in line with the net asset value of the underlying assets; there is also a separate version called rOUSG, in which yield is added to the token amount.

OUSG exists as a token on the Ethereum, Solana and Polygon networks. The price formed on secondary markets may differ from the fund's official net asset value. On Lzzo.com, DefiLlama's US dollar reference price is used for OUSG; the information is for tracking purposes only.