Ondo Finance has become the focus of attention this week — its total value locked (TVL) has surpassed $2 billion, setting a new record. The core driver of this growth comes from its tokenized US Treasury bond fund product, which has attracted a large influx of funds seeking stable returns. From an on-chain distribution perspective, Ethereum remains the main force, with approximately $1.5 billion in assets locked, accounting for nearly 75%. The Solana ecosystem follows closely, with a locked value of $248 million, demonstrating the growth momentum of DeFi on the Solana chain. BNB Smart Chain contributed $123 million, forming a diversified ecosystem across the three mainstream public chains. This cross-chain distribution trend reflects that the traditional asset tokenization sector is attracting increasing liquidity flow into multi-chain ecosystems.