Comment on the leader of the RWA track $ONDO

ONDO is the leader in the RWA track, serving as a bridge to move traditional financial assets onto the blockchain. The underlying idea is very clear: government bonds and money market funds in the traditional financial world essentially provide stable returns but have high thresholds, making them inaccessible to ordinary retail investors. ONDO transforms these types of assets into on-chain tokens, directly connecting crypto users and institutions, which is why it is seen as the face of RWA.
ONDO is backed by a legitimate compliance route, not some wild DeFi project. It has solid relationships with Wall Street capitals like Goldman Sachs and BlackRock, allowing it to benefit from the "institutional funding influx". In other words, while other RWA projects are still telling stories, ONDO is already receiving real money.
Of course, its limitations are also quite obvious: the gameplay is relatively conservative, mainly relying on tokenizing government bonds to attract liquidity. This determines that it is not the kind of story that can yield tenfold returns overnight, but rather a gradual expansion, gradually becoming an on-chain version of a "wealth management product" for the rich.
So how should we view ONDO?
I think it is the core underlying asset of the RWA sector, with logic similar to leaders like UNI and Lido in DeFi. Don't expect it to surge every day, but during the entire RWA explosive cycle, it will definitely be the most stable and able to attract institutional funds. The biggest current issue is the heavy load; it's unclear how much it will be washed out.