Institutional adoption of Ondo Nexus.
OUSG and USDY analytics from Ondo Finance: TVL, chains, liquidity, flows, and competitors.
Live data from Blockscout, DefiLlama and on-chain reads. Each section shows its own date.
Total TVLLive
$2.7B
13 chains, OUSG + USDY
4-week volumeLive
$145.4M
↑ +5.6% vs prior 4w
4-week net flowLive
+$82.2M
as of Oct 19, 2026
Avg tx sizeLive
$565.7K
257 txns
Top Ethereum holders
Ethereum only. Names come from a manual address registry, then Blockscout public tags; unlabeled wallets show their address.
| USDY ($1.2B in top 15) | Balance | Value | Source |
|---|---|---|---|
| Unknown wallet (0xA5b6...5302) | 359M | $413M | Live |
| Unknown wallet (0x661b...ee1a) | 298.8M | $343.6M | Live |
| Unknown wallet (0x9C6F...4AC2) | 106.4M | $122.3M | Live |
| Gate.io: Deposit Address | 86.8M | $99.8M | Live |
| Unknown wallet (0xC392...5041) | 83.4M | $95.9M | Live |
| Unknown wallet (0x1313...7aFc) | 32.7M | $37.6M | Live |
| Unknown wallet (0xEeB0...8512) | 28.8M | $33.2M | Live |
| Unknown wallet (0xC9E3...3D5A) | 18.2M | $20.9M | Live |
| Unknown wallet (0xc0db...8f8C) | 16M | $18.4M | Live |
| Unknown wallet (0x6870...fAED) | 14.5M | $16.6M | Live |
| Unknown wallet (0x6d54...Ff94) | 4.4M | $5.1M | Live |
| Unknown wallet (0xd97e...2eEB) | 3.1M | $3.5M | Live |
| Unknown wallet (0xEC33...8a12) | 2.7M | $3.1M | Live |
| Unknown wallet (0xC463...13cF) | 2.6M | $3M | Live |
| Unknown wallet (0x57A9...4e54) | 1.8M | $2.1M | Live |
| OUSG ($132.9M in top 15) | Balance | Value | Source |
|---|---|---|---|
| Flux Finance fOUSG market | 336.3K | $39.3M | Live |
| Unknown wallet (0x5D87...3AeB) | 261.2K | $30.5M | Live |
| Unknown wallet (0x56e6...A6A0) | 187.1K | $21.9M | Live |
| Unknown wallet (0xbd96...fB03) | 75.2K | $8.8M | Live |
| Unknown wallet (0x3918...A437) | 70.1K | $8.2M | Live |
| Unknown wallet (0x5eD4...081f) | 61.3K | $7.2M | Live |
| Unknown wallet (0x0f36...C149) | 47.1K | $5.5M | Live |
| Unknown wallet (0x4307...6AF7) | 33.2K | $3.9M | Live |
| Unknown wallet (0x3Ee6...d11a) | 17.2K | $2M | Live |
| Unknown wallet (0x233F...9470) | 10K | $1.2M | Live |
| Unknown wallet (0xE05E...B2De) | 9.4K | $1.1M | Live |
| Unknown wallet (0x6095...66FE) | 9.1K | $1.1M | Live |
| Unknown wallet (0x64be...055E) | 8.7K | $1M | Live |
| Unknown wallet (0x02f8...5669) | 5.6K | $655.4K | Live |
| Unknown wallet (0x9Ff8...55Cf) | 4.9K | $575.5K | Live |
Balances from Blockscout as of Oct 19, 2026, valued at the Ondo oracle price.
Chain breakdown
Liveethereum
52%$1.4B
stellar
20.1%$537.7M
sei
9.7%$259.7M
xrp-ledger
6.9%$185.2M
solana
6.7%$180M
bnb
3.9%$103.3M
sui
0.5%$14.4M
arbitrum
0.1%$3.1M
mantle
0%$367.9K
noble
0%$71.9K
aptos
0%$1.9K
polygon
––
plume
––
Liquidity depth heatmap
Token x chain TVL from on-chain supply
Live
ETH
MNT
ARB
POLY
SOL
SUI
APT
NOBLE
XLM
PLUME
SEI
BNB
XRP
OUSG
$134.8M
–
–
–
–
–
–
–
–
–
–
–
$185.2M
USDY
$1.3B
$367.9K
$3.1M
–
$180M
$14.4M
$1.9K
$71.9K
$537.7M
–
$259.7M
$103.3M
–
$0
$1.3B
Weekly instant mint and redeem
Last 12 weeks, as of Oct 19, 2026. Full history
OUSG
- Mint
- Redeem
- Net flow
Unique wallets
USDY
- Mint
- Redeem
- Net flow
Unique wallets
Competitive benchmark
Tokenized Treasury protocols
| Protocol | TVL | Chains | Redemption | Source |
|---|---|---|---|---|
| BlackRock (BUIDL) | ~$3.5B | Not disclosed | Not disclosed | Mocked |
| Ondo (OUSG + USDY) | $2.7B | 14 | OUSG: instant (atomic, limits apply), else typically next business day | Live |
| Superstate (Invesco USTB) | ~$549.7M | 3 | USDC immediate (subject to liquidity); USD same day if before 1pm ET | Mocked |
| OpenEden (TBILL) | ~$245.9M | 3 | Typically next US business day (FIFO queue) | Mocked |
Ondo TVL is on-chain supply × oracle price, same as Total TVL; others from DefiLlama as of Oct 19, 2026. Chain counts and redemption terms link to the issuer's docs.