# Ondo (ONDO) Quantum Readiness Report

> Ondo has a QRI score of 0/100 and is assessed at Stage 0 (Unassessed / No Evidence) with medium evidence confidence.

Evaluation date: 2026-06-05. Review status: draft. Evaluated scope: ERC-20 governance token with tokenized RWA control plane.

Ondo Finance is a leading DeFi protocol for tokenized real-world assets (RWAs) with approximately $2B in ONDO market capitalization and $3.75B in total value locked across OUSG, USDY, Ondo Global Markets, and related products. The ONDO token itself is a standard ERC-20 on Ethereum that inherits Ethereum's base-layer quantum readiness posture for token transfers. However, the protocol's control plane — including 4-of-7 Gnosis Safe admin multisigs, proxy-upgrade authorities, oracle keys, bridge DVN configurations, and freeze/pause capabilities — relies entirely on ECDSA-secured keys with no post-quantum or hybrid cryptographic protection. Ondo Finance has published no quantum risk assessment, no cryptographic inventory, no PQC migration roadmap, no quantum-specific incident-response process, and no evidence of any post-quantum development work whatsoever. The protocol's otherwise sophisticated security architecture (defense-in-depth, rate limiting, DVN diversity, operational security) is ultimately gated behind the same ECDSA keys a quantum adversary would target. With multi-billion-dollar value-at-risk controlled by quantum-vulnerable keys whose public keys are exposed on-chain through regular multisig operations, the protocol has material, unmitigated quantum-critical vulnerabilities across its entire control plane. QRI Score: 0 (Stage 0 cap of 5, Readiness & Risk Cap of 10 due to absence of cryptographic inventory, Factor Score of 0).

## Core resources

- [Ondo QRI report](https://qrindex.org/projects/ondo-finance/): Human-readable assessment with score, stage, evidence, blockers, risks, and assurance notes.
- [Ondo structured report data](https://qrindex.org/projects/ondo-finance/report.json): Complete report as JSON for deterministic machine processing.
- [QRI methodology](https://qrindex.org/methodology/): Scoring model, evidence handling, readiness stages, confidence, assurance, and report status.
- [All QRI project reports](https://qrindex.org/llms.txt): Score-ranked index of every published project assessment.
- [Ondo official website](https://www.coingecko.com/en/coins/ondo-finance): Project-maintained website.



## Evidence sources

- [Evidence source 1](<https://docs.ondo.finance/>): Public source cited by the Ondo QRI assessment.
- [Evidence source 2](<https://docs.ondo.finance/trust-and-security>): Public source cited by the Ondo QRI assessment.
- [Evidence source 3](<https://github.com/ondoprotocol>): Public source cited by the Ondo QRI assessment.
- [Evidence source 4](<https://blog.ondo.finance/assume-every-layer-will-fail-our-security-philosophy-and-why-ondo-stayed-live/>): Public source cited by the Ondo QRI assessment.
- [Evidence source 5](<https://docs.ondo.finance/audits>): Public source cited by the Ondo QRI assessment.
- [Evidence source 6](<https://etherscan.io/address/0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3>): Public source cited by the Ondo QRI assessment.
- [Evidence source 7](<https://etherscan.io/address/0xAEd4caF2E535D964165B4392342F71bac77e8367>): Public source cited by the Ondo QRI assessment.
- [Evidence source 8](<https://etherscan.io/address/0x677fd4ed8ae623f2f625deb2d64f2070e46ca1a1>): Public source cited by the Ondo QRI assessment.
- [Evidence source 9](<https://github.com/stakingrewards/defi-risk-rating/blob/master/ratings/Ondo-OUSG.md>): Public source cited by the Ondo QRI assessment.
- [Evidence source 10](<https://github.com/stakingrewards/defi-risk-rating/blob/master/ratings/Ondo-USDY.md>): Public source cited by the Ondo QRI assessment.
- [Evidence source 11](<https://coinmarketcap.com/currencies/ondo-finance/>): Public source cited by the Ondo QRI assessment.
- [Evidence source 12](<https://www.coingecko.com/en/coins/ondo>): Public source cited by the Ondo QRI assessment.
- [Evidence source 13](<https://blog.ondo.finance/>): Public source cited by the Ondo QRI assessment.
- [Evidence source 14](<https://app.ondo.finance/>): Public source cited by the Ondo QRI assessment.
- [Evidence source 15](<https://cantina.xyz/portfolio/fb329103-8bd1-45ac-91d8-4f75e1abf812>): Public source cited by the Ondo QRI assessment.
- [Evidence source 16](<https://cantina.xyz/portfolio/c87e6cc2-6fa2-430b-bd7e-44f8505e50c7>): Public source cited by the Ondo QRI assessment.
- [Evidence source 17](<https://github.com/ondofinance>): Public source cited by the Ondo QRI assessment.