# Ondo US Dollar Yield (USDY) Quantum Readiness Report

> Ondo US Dollar Yield has a QRI score of 3.33/100 and is assessed at Stage 1 (Quantum Risk Assessed) with medium evidence confidence.

Evaluation date: 2026-06-05. Review status: draft. Evaluated scope: Token-specific admin/governance keys and cross-chain bridge dependency; inherits L1 QRI from host chains.

Ondo US Dollar Yield (USDY) is a tokenized real-world asset representing claims on short-term US Treasuries, deployed across 10+ blockchains with ~$994M in AUM. As a smart-contract token, user-level transfers inherit host-chain quantum risk profiles. However, USDY has token-specific quantum-critical vulnerabilities that are entirely unaddressed: (1) Admin and upgrade authority is secured by two Gnosis Safe 4-of-7 ECDSA multisigs whose signers' public keys are exposed on-chain — a long-exposure quantum vulnerability enabling complete token takeover by a future quantum adversary. (2) The Ondo Bridge depends on LayerZero OFT adapters with a classical verifier set, creating a cross-chain supply-integrity vulnerability. The project has published no cryptographic inventory, no quantum risk assessment, no migration plan, and no PQ implementation of any kind. The only mitigating factor is that smart contracts are open-source and verified, enabling community review of the classical implementation. The QRI Score of 3.33 reflects zero quantum readiness at the token-specific layer, capped at 10 by the absence of a public cryptographic inventory. This is a Stage 1 (Quantum Risk Assessed) evaluation where the assessment is performed by the evaluator, not self-reported by the project.

## Core resources

- [Ondo US Dollar Yield QRI report](https://qrindex.org/projects/ondo-us-dollar-yield/): Human-readable assessment with score, stage, evidence, blockers, risks, and assurance notes.
- [Ondo US Dollar Yield structured report data](https://qrindex.org/projects/ondo-us-dollar-yield/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 US Dollar Yield official website](https://www.coingecko.com/en/coins/ondo-us-dollar-yield): Project-maintained website.



## Evidence sources

- [Evidence source 1](<https://docs.ondo.finance/trust-and-security>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 2](<https://docs.ondo.finance/general-access-products/usdy/basics>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 3](<https://docs.ondo.finance/addresses>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 4](<https://etherscan.io/address/0x96F6eF951840721AdBF46Ac996b59E0235CB985C>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 5](<https://etherscan.io/address/0xAEd4caF2E535D964165B4392342F71bac77e8367>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 6](<https://etherscan.io/address/0x1a694a09494e214a3be3652e4b343b7b81a73ad7>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 7](<https://github.com/stakingrewards/defi-risk-rating/blob/master/ratings/Ondo-USDY.md>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 8](<https://ipfs.io/ipfs/QmVLyZow92cB4j1fXzVc1LCEwW16F9UxtyoWLtHHW7FUh7>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 9](<https://etherscan.io/address/0x677fd4ed8ae623f2f625deb2d64f2070e46ca1a1>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 10](<https://www.stakingrewards.com/defi/0x96f6ef951840721adbf46ac996b59e0235cb985c>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 11](<https://docs.ondo.finance/audits>): Public source cited by the Ondo US Dollar Yield QRI assessment.
- [Evidence source 12](<https://github.com/ondoprotocol/usdy>): Public source cited by the Ondo US Dollar Yield QRI assessment.