# iShares Core S&P 500 ETF (Ondo Tokenized) (IVVON): D-Score 46/100 — Moderately Decentralized

**BlockIndex D-Score: 46/100 (Moderately Decentralized).** iShares Core S&P 500 ETF (Ondo Tokenized) (IVVON) is a Layer 2 cryptocurrency using Other consensus. IVVON: Ondo-tokenized S&P 500 ETF exposure across Ethereum-led multi-chain real-world asset markets.

_Source: https://blockindex.ai/coin/ivvon · Data by BlockIndex.AI · Updated 2026-06-19_

## D-Score breakdown (0-100, higher means more decentralized)
| Component | Score |
| --- | --- |
| Overall D-Score | 46 |
| Node distribution | 0 |
| Initial distribution | 25 |
| Governance | 16 |
| Age and history | 5 |
| Autonomy | 0 |

## Key facts
- Layer: Layer 2
- Consensus: Other (N/A)
- Launch: Other (2026)
- Founder: N/A
- VC funded: No
- Max supply: N/A
- Circulating: 89,901

## Market data (as of 2026-06-19)
- Price: $753
- Market cap: $67.7M
- 24h volume: $1.07M
- 24h change: +0.09% · 7d change: +1.70%

## About
iShares Core S&P 500 ETF (Ondo Tokenized), traded under IVVON or IVVon, is an Ondo-tokenized exchange-traded fund asset designed to provide on-chain exposure to the iShares Core S&P 500 ETF. It is not a native blockchain and does not operate a separate validator, miner, or node network. Public summaries describe it as a tokenized ETF and real-world asset product connected to Ondo Global Markets, with Trust Wallet describing the asset as offering economic exposure similar to holding IVV with reinvested dividends. The project-specific founder information is not disclosed in the provided source material, while Ondo Finance and Ondo Global Markets are the directly referenced issuer and platform context.

Technically, IVVON is best classified as a token rather than a blockchain protocol. CoinGecko identifies an Ethereum contract address, while CertiK and other extracted infrastructure data also show BNB Smart Chain, Solana, and HyperEVM token visibility. Because IVVON runs on host blockchain infrastructure, native consensus, mining algorithm, block timing, staking reward, UTXO structure, and full-node statistics are not applicable to the asset itself. The token appears to rely on smart-contract and tokenized-asset infrastructure, including an Etherscan-recorded proxy upgrade in July 2025, but no IVVON-specific source repository, open-source license, or implementation-language disclosure was found in the supplied summaries.

The asset's core use case is tokenized ETF exposure. Its ecosystem is strongest in market data, wallet visibility, and exchange availability rather than in native protocol applications. CoinGecko, CoinMarketCap, Trust Wallet, Ondo Finance, CertiK, and multiple block explorers track the asset or its contracts. Wallet coverage includes Ledger, Electrum, Trust Wallet, Coinbase Wallet, MetaMask, Argent, WalletConnect, Phantom, and other extracted browser-extension entries, although some wallet entries were low-confidence or malformed from automated extraction. Exchange coverage includes Ondo Global Markets, LBank, MEXC, Binance Alpha, Binance, Coinbase, Bitget, KuCoin, Gate, Kraken, Bybit, OKX, Uniswap, PancakeSwap, and Manifest DEX according to the combined wallet and exchange summary.

Tokenomics data is limited but market sources report a small tracked supply of roughly 89,794 IVVON, with circulating supply equal to total supply on CoinGecko and CoinMarketCap snapshots. CoinGecko market data in the supplied validation showed a price of $763.53, market capitalization of $68,589,567, fully diluted valuation equal to market capitalization, and 24-hour trading volume of $1,611,265.62. No allocation document, premine percentage, public initial percentage, ICO amount, or insider distribution schedule was found. CertiK flagged high holder concentration, reporting a major holding ratio of 84.04%, which is relevant for decentralization and distribution assessment but does not by itself establish a formal premine or issuer allocation.

Governance appears centralized through the Ondo Finance and Ondo Global Markets product framework rather than DAO-governed. No IVVON-specific CEO, DAO, governance token voting, community-governed treasury, or protocol voting mechanism was documented. The Ondo asset page notes that Ondo Global Markets tokens have not been registered under the U.S. Securities Act or securities or financial-instrument laws of other jurisdictions, so the regulatory profile is best described as a tokenized securities or RWA product with restrictions rather than a decentralized commodity-style network. No IVVON-specific hacks, exploits, chain freezes, network halts, or enforcement actions were documented in the provided summaries.

## Links
- Website: https://app.ondo.finance/assets/ivvon
- Whitepaper: N/A
- GitHub: N/A

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About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore