# Invesco QQQ (Ondo Tokenized) (QQQON): D-Score 48/100 — Moderately Decentralized

**BlockIndex D-Score: 48/100 (Moderately Decentralized).** Invesco QQQ (Ondo Tokenized) (QQQON) is a Layer 2 cryptocurrency using Other consensus. Invesco QQQ (Ondo Tokenized): Ethereum-based tokenized ETF exposure product for eligible users seeking QQQ economics.

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

## D-Score breakdown (0-100, higher means more decentralized)
| Component | Score |
| --- | --- |
| Overall D-Score | 48 |
| Node distribution | 0 |
| Initial distribution | 25 |
| Governance | 16 |
| Age and history | 7 |
| Autonomy | 0 |

## Key facts
- Layer: Layer 2
- Consensus: Other (N/A)
- Launch: Other (2025)
- Founder: N/A
- VC funded: No
- Max supply: N/A
- Circulating: 51,494

## Market data (as of 2026-06-19)
- Price: $736.65
- Market cap: $37.93M
- 24h volume: $1.93M
- 24h change: +0.53% · 7d change: +2.69%

## About
Invesco QQQ (Ondo Tokenized), ticker QQQON, is an Ondo-tokenized representation of economic exposure to the Invesco QQQ ETF. It is not a native cryptocurrency network and does not operate its own consensus system, validator set, mining infrastructure, or independent blockchain. The asset is best understood as a tokenized ETF exposure product intended to mirror the economics of holding QQQ with dividends reinvested, subject to the terms, restrictions, and eligible-user framework of Ondo Global Markets. Available source data identifies the first directly dated QQQON trading event as December 5, 2025, when Ourbit announced QQQON/USDT trading and deposits. The asset page and market listings position QQQON within the expanding tokenized real-world-asset sector rather than within a conventional blockchain protocol category.

Technically, QQQON is an Ethereum-based tokenized asset. The strongest contract-level data in the master summary is the Ethereum contract address 0x0e397938C1Aa0680954093495B70A9F5e2249aBa, with parent-chain context inferred from the Ethereum contract address and Etherscan-style token URL references. Because QQQON is a token and not a blockchain, fields such as mining algorithm, block timing, TPS, total blocks, blockchain size, node count, and chain-freeze history are not applicable to the QQQON project itself. Ethereum provides the underlying settlement infrastructure, while the QQQON product adds a tokenized wrapper around ETF economic exposure and mint/redeem functionality for eligible users. No QQQON-specific code repository, open-source license, technical roadmap, or standalone protocol version was confirmed in the provided data.

The primary use case for QQQON is tokenized access to U.S. equity-market exposure, specifically the Nasdaq-100 exposure represented by Invesco QQQ. CoinMarketCap and other market-data sources describe the product as offering tokenholders economic exposure similar to holding QQQ and reinvesting dividends. The target audience appears to include eligible non-U.S. retail and institutional users seeking tokenized U.S. stock and ETF exposure during extended crypto-market style availability windows. Confirmed or verified exchange availability in the supplied summaries includes Kraken, Bybit, Bitget, Coinbase, and direct listing evidence from Ourbit. Wallet support data identifies Ledger, Electrum, MetaMask, and Phantom, although the source notes that detailed platform and security metadata were not provided and some wallet references may represent general token compatibility rather than deeply verified QQQON-specific integrations.

QQQON tokenomics differ from mined or preallocated crypto networks. The supply appears to be driven by issuance and redemption mechanics associated with tokenized ETF exposure rather than by block rewards, staking emissions, or a fixed mined-supply schedule. CoinMarketCap data in the summary showed approximately 51.66K circulating and total supply, implying 100 percent circulation relative to reported total supply, while max supply was not separately available. Market data in the master summary varied by source and timestamp, with CoinMarketCap showing a price around $745.19, a market capitalization around $38.50 million, 24-hour volume around $4.14 million, and an all-time high of $749.88 on June 3, 2026. The all-time low cited was $556.67 on March 31, 2026.

Governance and organization data are limited for the individual QQQON asset. The DScore extraction identified a company association because the product is Ondo-associated and references Invesco QQQ as the underlying product, but no QQQON-specific CEO, DAO, treasury, voting mechanism, or community governance model was documented. Regulatory context is important: the Ondo asset page states that the token issuer is not registered as an investment company under the U.S. Investment Company Act of 1940 or comparable EU fund regimes, and the product is subject to restrictions. No QQQON-specific security incidents, protocol hacks, enforcement actions, network halts, or roadmap milestones were found in the supplied master summaries. Overall, QQQON should be classified as a tokenized real-world-asset product on Ethereum, with its core value proposition tied to regulated-market exposure rather than independent blockchain decentralization.

## Links
- Website: https://app.ondo.finance/assets/qqqon
- 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