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How do I redeem my OUSG / rOUSG tokens?

You can redeem your tokens by using the UI on the OUSG page of our website or by contacting us directly at

How quickly will I get my money once I redeem?

If you do an instant redemption, the redemption takes place as an atomic transaction so you will receive your USDC at the same time as you send in your OUSG (or rOUSG) for redemption.

For non-instant redemptions, provided that you sent us your tokens for redemption prior to 3pm ET, you will typically receive your funds the next Business Day. If you sent your tokens after that, your redemption request will most likely be processed the following Business Day (meaning your funds will typically be provided the day after that).

For example, if on Monday you requested a non-instant redemption at 11:00am ET, you will typically receive your funds by end of day on Tuesday. If you submitted your tokens for redemption at 3:30pm ET, however, your request would be considered as having been made on Tuesday, which means you would typically receive your funds by the end of the day on Wednesday.

If I redeem or transfer my rOUSG tokens before the yield due is paid out, will I still receive that yield?

No. Due to the way that rebasing works, you would not receive that yield on the transferred tokens. Because rebasing in effect increases the number of rOUSG tokens in your wallet proportional to the number of tokens in your wallet at the time of rebase, if you have already redeemed (or transferred) those tokens, your “base” of tokens has already decreased.

Keep this in mind when redeeming or transferring tokens.

Let’s say I transfer my OUSG or rOUSG tokens to another party. Who gets the yield for that day, me or them?

The general rule to keep in mind is this: whoever holds the tokens at the time of the price update gets the yield.

So you will always redeem 1 rOUSG for 1 USDC or 1 USD?

Legally, an rOUSG token is a fractional representation of a locked OUSG token, which in turn represents an authoritative membership interest in the OUSG share class of the Fund. The net asset value (NAV) per rOUSG token, then, is equal to (a) the total number of OUSG tokens locked in the wrapper contract times (b) the NAV per OUSG token, the product of which divided by the total number of rOUSG tokens. (See here for more detail.) The wrapper contract adjusts the number of rOUSG in existence based upon the NAV of the underlying OUSG token such that the value of an rOUSG token remains 1 USD.

Whether or not we redeem 1 rOUSG for 1 USDC or another stablecoin will also depend upon the exchange rate between that stablecoin and USD. At the time of this writing (April 2024), we mint and redeem USDC 1:1 with USD.

What is the minimum amount of OUSG I can redeem?

The minimum for instant redemptions is $10K; the minimum for non-instant redemption is $50K. While at the beginning it’s fine if you wish to non-instant redeem a small ‘test’ amount of OUSG to get comfortable with the process; contact us at

If I request a redemption on a given day, do I earn yield for that day?

No. Provided you submitted a redemption request before the price update, you will not receive the yield for that day.

Note that, for technical reasons, Friday’s price update includes the estimated yield paid out on the underlying assets for Friday and Saturday, while Monday’s update reflects the yield for Sunday and Monday. Price updates on the day immediately proceeding a holiday include the estimated yield to be paid out on that holiday.

If BUIDL only pays its yield out monthly, how do you pay out the yield daily?

The yield is paid out in the form of rOUSG tokens (or, for OUSG holders, in the form of an increasing token price). When tokens are redeemed, as needed we sell shares in BUIDL to service the redemption; the timing of the yield on BUIDL and OUSG do not need to match exactly. In the event that every investor liquidated their positions fully, we would fully sell our position in BUIDL, and Ondo Finance Inc. would remain an investor in the fund ensuring all accrued-but-unpaid interest on BUIDL was paid out to OUSG tokenholders. When BUIDL paid out the yield to the fund at the beginning of the following month, Ondo Finance’s position would be then be closed out. Because the accrued-but-unpaid-yield would still be accrued as an asset to the fund, this cash timing issue does not affect the NAV of the fund.