Ondo Yield Assets
Best for audited protocol with published methodology
How it rates
- Audit report linked from a public dataset
- Accounting methodology published
- $2,518m recorded independently
- Several indicators could not be verified from public sources at this check
Each indicator scores 2, 1 or 0. A pillar is the points earned over the points available; the overall score is the weighted sum. Every source below is public — check any of them yourself.
- MetIndependent audit report linked publicly
Audit report linked from the public protocol dataset.
www.certik.org/projects/ondofinance - Met
- MetTracked by an independent analytics platform
Listed with published value and history.
defillama.com/protocol/ondo-yield-assets - Met
- Met
- Met
- MetProtocol economics published independently
Value and change history published.
defillama.com/protocol/ondo-yield-assets - Met
- PartialFee or reward model documented publicly
Application reachable for review; specific rates not captured at this check.
ondo.finance - Met
- Met
- Met
- Not met
- Met
- Partial
- MetIndependent analytics page published
Public page with history.
defillama.com/protocol/ondo-yield-assets - Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
A tokenised treasury protocol holding $2.52bn across 12 chains, with published audits and broad DeFi integration.
Our assessment
Ondo holds $2.52bn across 12 chains with two audits and reports linked. It tokenises US Treasury exposure and, unlike most competitors, has pushed for its tokens to be usable across DeFi rather than held in custody accounts.
Treasury yield is the benchmark DeFi has to beat
When short-dated Treasuries pay a meaningful real rate, every DeFi yield has to be judged against it. A protocol offering less than a Treasury with more risk has no economic case. Tokenising that rate on-chain makes the comparison explicit, and it is one of the healthier structural changes in the sector.
The risk is legal, not technical
The Treasuries exist off-chain in a legal structure, and a token holder's claim depends on that structure's enforceability, the custodian's integrity and the applicable jurisdiction. Smart contract audits cover the tokens; they do not establish that the claim is good. Reading the legal wrapper is the actual due diligence here.
Twelve chains means real usability
Most tokenised treasury products live on one or two chains and function as custody receipts. Deployment across twelve, with integrations into lending markets, makes the yield composable — you can borrow against it rather than only hold it. That is what distinguishes this from a fund share with a blockchain address.
Who it suits
Ondo fits users wanting Treasury yield on-chain with the option to use it as collateral, who have read the legal structure. Users wanting purely on-chain risk should stay in crypto-native protocols.
How rivals compare
| Service | Score | Best for | |
|---|---|---|---|
| Sky Lending | 9.3 | audited protocol with published methodology | Read → |
Frequently asked
Does this score mean Ondo Yield Assets is safe?
No. It measures what an outsider can verify: linked audits, published methodology and independently recorded data. Contract and custody risk are not tested by us.
Where do these figures come from?
A public analytics dataset queried at the verification date, plus the audit reports it links. Anyone can re-run the query.
Why do some protocols score zero on audits?
Because no audit report is linked in the public record. It records what a user can reach, not a claim that no audit exists.