Your $ONDO bag has an expiry date printed on it. January 18, 2027. That is the day 1.94 billion new tokens unlock, roughly 40% of the current float. Here is the math the RWA crowd keeps skipping. Every $0.10 of $ONDO price equals $194 million of fresh buying needed just to absorb that unlock and stay flat. At $1, the market has to find $1.94 billion of new demand from somewhere. Not every unlocked token gets sold. Every single one of them can be. Now look at what pushes the other way. $UNI switched its fees on, and protocol revenue now goes to burning supply. $ONDO has no burn, no buyback and no fee share. The money from USDY, OUSG and tokenized stocks flows to Ondo Finance the company. Ondo can win the entire tokenized treasury and stock market, and the token is still not written into that win. January 2027 is not even the last cliff. Another one is scheduled for January 2028. So here is the trade in one line. Supply is guaranteed to rise, while value capture is not guaranteed to exist. Until governance votes value into the token, you are not holding the RWA thesis. You are holding the unlock schedule.