

“As an investor, I've been thoroughly impressed by the USD-ST product. The ability to redeem instantly into USDC has been a game-changer for me, allowing me to manage my liquidity efficiently and with ease. What stands out even more is the daily interest calculation. It's incredibly satisfying to see my token balance grow each day as new tokens are automatically added based on the returns from the underlying OUSG asset. Plus, the fact that I can invest unlimited Rands, gain exposure to USD, and then redeem back into Rands whenever I need makes this product extremely versatile for my portfolio. I've never encountered an investment product that blends flexibility, security, and yield so seamlessly.”
“I've been investing in various products for years, but the USD-ST token has really set a new standard for me. The simplicity and transparency of the product are unmatched. I love the fact that the interest is calculated daily, and I can see my tokens growing steadily. The ability to invest with unlimited Rands, gain exposure to the USD market, and redeem back into Rands at will gives me the kind of control and flexibility I've been looking for. And with the option to redeem my tokens for USDC 24/7, this is the most convenient and effective investment tool I've used so far.”
“The USD-ST product has exceeded all my expectations. The ability to earn a competitive yield while having the option to instantly redeem into USDC makes it the perfect investment tool for someone who values both return and flexibility. But the real advantage is being able to invest in Rands, get immediate USD exposure, and redeem into Rands whenever I need. This feature has allowed me to leverage the best of both currencies, ensuring my funds work harder for me. The daily compounding of interest is just the cherry on top!”
“The instant redemption feature of USD-ST has been an absolute standout for me. Having the flexibility to convert my tokens to USDC whenever I need it, 24/7, is incredibly valuable. What's equally impressive is the way returns are managed — new tokens are added daily as interest is calculated. But perhaps the most exciting feature is the ability to invest unlimited Rands, gain USD exposure, and redeem into Rands when it suits me. This unique aspect has made USD-ST a cornerstone in my investment strategy, giving me access to global markets with the liquidity I need locally.”
The USD-ST is a token representing a limited partner's interest in an En Commandite Partnership, with the primary asset being OUSG, which provides liquid exposure to short-term US Treasuries with 24/7 stablecoin minting and redemption.
OUSG (Ondo Short-Term US Government Bond Fund) is an investment product that offers liquid exposure to short-term US Treasuries. It is specifically designed to target a net return comparable to tier-one USD money market funds, and it allows 24/7 stablecoin mints and redemptions. OUSG is managed by Ondo Finance and backed by highly liquid, low-risk US government debt.
The USD-ST aims to deliver a net return equal to that of Tier One USD Money Market Funds. Currently, the net return after fees is approximately 4.75% based on the yield from OUSG.
The return is based on the performance of OUSG, which invests in US Treasuries. The return is calculated as the net yield from OUSG, less the partnership's authorized expenses (capped at 0.25% per annum), and is distributed as additional Tokens.
Returns from USD-ST are typically calculated daily and distributed monthly, reflecting the performance of OUSG's investment in short-term US Treasurie.
USD-ST is a low-risk investment as it is backed by OUSG, which invests in short-term US government securities, widely regarded as one of the safest investments available. However, there is still interest rate risk and liquidity risk associated with OUSG.
The fees include management and other authorized expenses, capped at 0.25% per annum of the total purchase price of each token. This ensures that the net return reflects the yield from OUSG minus these fees.
Tokens are minted when a Limited Partner purchases USD-ST through the RainFin platform. The token represents a $1 capital contribution to the partnership, which is used to invest in OUSG.
USD-ST Tokens can be redeemed by submitting a Redemption Notice via the RainFin platform. Upon redemption, the Tokens are burned, and the equivalent value (based on OUSG's performance) is transferred to the Limited Partner's nominated wallet in USDC.
The redemption process typically takes 2 hours after submitting a Redemption Notice, during which the partnership will liquidate the required OUSG assets to return the capital to the investor.
No, USD-ST is not a stablecoin. It represents a limited partnership interest in an En Commandite Partnership, where the underlying asset is OUSG, a liquid US Treasury-based investment.
Yes, USD-ST Tokens can be transferred between Limited Partners or sold to new investors on secondary markets. The new holder becomes a Limited Partner in the partnership.
If OUSG underperforms, the return on USD-ST will be lower, and Limited Partners may receive smaller distributions or returns.
OUSG offers 24/7 liquidity for stablecoin mints and redemptions, allowing the USD-ST partnership to provide a seamless and flexible redemption process for investors. The liquidity of OUSG ensures that USD-ST holders can redeem their tokens without delays.
The main risks include fluctuations in interest rates affecting the yield of short-term US Treasuries and potential liquidity constraints during times of market stress. However, given that OUSG is backed by US Treasuries, the risk is considered low.
An En Commandite Partnership (ECP) is a limited partnership structure where the liability of the Limited Partners is capped at their capital contributions. The General Partner manages the partnership's assets and operations.
The General Partner, RainFin (RF) Pty Ltd, manages the assets of the partnership, ensures regulatory compliance, and oversees all operational and financial matters.
Limited Partners provide capital and are passive investors in the partnership. Their only obligations are to comply with KYC requirements and manage their token holdings.
Yes, new Limited Partners can join the partnership by purchasing Tokens from existing Limited Partners. This process involves KYC compliance before they can redeem or claim any benefits.
Tax treatment varies by jurisdiction. Limited Partners may be responsible for taxes on any income or capital gains realized from their USD-ST investments, and they should consult a tax professional.
Limited Partners' liability is capped at their total capital contribution, meaning they are not liable for the debts or obligations of the partnership beyond their initial investment.
A new General Partner will be appointed by the Limited Partners, ensuring that the partnership's operations continue without affecting the rights or interests of the Limited Partner.
If the partnership is dissolved, the General Partner will liquidate the assets, and the remaining funds will be distributed to the Limited Partners based on their capital contributions.
The partnership fees are limited to 0.25% per annum of the total token purchase price, covering management, administration, and other authorized expenses.
The Redemption Notice Period is typically 1 business day before the Redemption Date.
The value of USD-ST Tokens is directly linked to the performance of OUSG, the underlying asset. The net asset value (NAV) of the partnership is based on the returns generated by the OUSG fund.
No, USD-ST Tokens are not classified as securities. They represent a limited partnership interest in an En Commandite Partnership, a private investment structure.
USD-ST Tokens are issued on a blockchain platform, ensuring transparency, security, and the ability to track ownership and transfer of tokens seamlessly.
Disputes between the General Partner and Limited Partners are resolved through arbitration, as outlined in the Partnership Agreement, ensuring a structured and legally binding process.
The General Partner has the right to amend the partnership's terms, but such changes must not adversely affect the rights of the Limited Partners.