on-chain fees continues to pressure treasury policy: reading the USDY, OUSG tape

The healthier setup is alignment: token unlocks improving while drawdown recovery stays orderly.

Against the backdrop of “USDY, OUSG and Ondo Stock Tokens Compared” and “What Does Securitize Do? A Guide to Its Fund Services”, positioning still matters more than slogans.

That is why watching stablecoin velocity alongside stablecoin settlement usually explains more than chasing every alert.

The gap between token unlocks and drawdown recovery is where false confidence usually builds.

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