IEFON is a token on Solana that tracks the price of iShares 7-10 Year Treasury Bond ETF. It's issued by Ondo Finance, not by Solflare, and gives you price exposure to the underlying ETF without making you a holder of it. You can hold and swap IEFON in a self-custody wallet such as Solflare.

Why can the price of IEFON differ from iShares 7-10 Year Treasury Bond ETF?

The price of IEFON is set by on-chain trading on Solana. When the underlying market is closed, there's no live price to follow, and when liquidity is thin, a small swap can move the token's price. A scaling factor, where one applies, also means the token's price won't match the underlying price one for one.

What happens if IEFON has low liquidity?

Low liquidity means a small swap can move the price of IEFON, the spread between buying and selling widens, and selling can cost more than you expect. The token's price can also sit further from the underlying asset. Liquidity on tokenized funds and commodities varies a lot between tokens and over the course of a day.

You buy IEFON by swapping SOL, USDC, or another Solana token for it in a self-custody wallet such as Solflare. The swap settles on Solana, so no brokerage account is involved. Keep a small SOL balance for network fees, and check Ondo Finance's terms first, since availability varies by jurisdiction.

Does IEFON pay dividends or distributions?

Not as separate payments. When the underlying fund pays a distribution, Ondo Finance folds it into the token's scaling factor, so each IEFON represents slightly more of the fund over time while the number of tokens in your wallet stays the same.

When can I trade IEFON?

You can swap IEFON on Solana at any hour, but the fund it tracks trades only during US market hours. Outside those hours, the price of IEFON comes from on-chain trading alone, so spreads can widen and the price can drift from the fund's last close until the market reopens.

IEFON price today: iShares 7-10 Year Treasury Bond ETF on Solana

Q: Is buying IEFON the same as buying iShares 7-10 Year Treasury Bond ETF?

No. IEFON is a separate token that tracks the price of iShares 7-10 Year Treasury Bond ETF. Holding it gives you the price exposure, but not shareholder rights or a direct claim on the underlying holdings. Any redemption into the underlying asset is handled by Ondo Finance for eligible clients under its own terms, not by Solflare.

Q: Who issues IEFON?

Ondo Finance issues IEFON. Ondo Finance issues its tokenized stocks and ETFs through Ondo Global Markets, which holds the underlying securities with custodians and handles minting and redemption for eligible clients. Solflare is a self-custody wallet that lets you hold and swap IEFON; it does not issue, back, or custody the token, so the backing arrangement is the issuer's.

What IEFON tracks

IEFON tracks iShares 7-10 Year Treasury Bond ETF, a fund that holds bonds, Treasury securities, or loans and pays out the income they generate. Its price moves with interest rates and, for corporate debt and loans, with the credit quality of the borrowers.

Funds holding short-dated debt tend to move little when rates change, while funds holding long-dated bonds can swing sharply. Distributions from the fund are usually reflected in the token rather than paid in cash.

About iShares 7-10 Year Treasury Bond ETF (Ondo Tokenized)

IEFon is the Ondo Tokenized version of the iShares 7-10 Year Treasury Bond ETF, giving tokenholders economic exposure similar to holding IEF and reinvesting any dividends. Ondo tokenized stocks enable non-US retail and institutional users around the world to instantly mint and redeem tokenized U.S. stocks and ETFs, 24 hours a day, five days a week with full access to traditional exchange liquidity. Additional restrictions apply. Learn more at ondo.finance/global-markets.

Website

IEFON contract address

D4uWxzR5StYC6sTRhVts8Eboy3pmVtHeNC62dnQondo

Ticker

IEFON

Issuer

Ondo Finance

Status

Verified

How IEFON works

IEFON is issued by Ondo Finance. Ondo Finance issues its tokenized stocks and ETFs through Ondo Global Markets, which holds the underlying securities with custodians and handles minting and redemption for eligible clients.

What you hold is the token, not the underlying asset. IEFON tracks the price of iShares 7-10 Year Treasury Bond ETF, but it doesn't give you shareholder rights or a direct claim on the underlying holdings. Minting and redemption are handled by Ondo Finance for eligible clients under its own terms. Solflare is a self-custody wallet for holding and swapping IEFON, and it does not issue, back, or custody the token.

The price of IEFON on Solana is set by on-chain trading. Where liquidity is deep, it tends to stay close to the underlying price. Where liquidity is thin, a small swap can move the price and the gap to the underlying can widen.

When the underlying fund pays a distribution, Ondo Finance folds it into the token instead of paying it out, so each IEFON comes to represent slightly more of the fund over time while the number of tokens in your wallet stays the same.

When can you trade IEFON?

IEFON can be swapped on Solana at any hour, but the fund it tracks trades only during US market hours. Outside those hours there's no live fund price, so the price of IEFON comes from on-chain trading alone and can drift from the fund's last close.

The scaling factor for IEFON

The scaling factor for IEFON is 1.0231. It rises as the underlying fund's distributions are folded into the token, so each token represents slightly more of the fund over time while your token count stays the same. Read the factor as accumulated distributions, not as a price change.

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7	iShares 1-3 Year Treasury Bond ETFSHYON	$81.215	0.04%	Ondo	US market hours
8	iShares 20+ Year Treasury Bond ETFTLTON	$79.456	0.53%	Ondo	US market hours
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12	VanEck CLO ETFCLOION	$52.865	0.02%	Ondo	US market hours
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14	Janus Henderson AAA CLOJAAAX	$50.565	0.03%	Backed Finance	US market hours
15	Janus Henderson AAA CLO ETFJAAAON	$50.565	0.03%	Ondo	US market hours
16	iShares Flexible Income Active ETFBINCON	$50.525	0.14%	Ondo	US market hours
17	WisdomTree Floating Rate Treasury FundUSFRON	$50.485	0.02%	Ondo	US market hours
18	Fidelity AAA CLOFAAAX	$50.40	0.01%	Backed Finance	US market hours
19	JPMorgan Ultra-Short IncomeJPSTX	$50.285	0.04%	Backed Finance	US market hours
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Prices are volatile and can fall as well as rise. IEFON is issued by Ondo Finance and gives price exposure to iShares 7-10 Year Treasury Bond ETF, not fund shares, shareholder rights, or a claim on the fund's holdings; redemption terms are set by the issuer. Liquidity can be thin, which widens spreads and can move the price on small swaps, especially outside US market hours. Availability varies by jurisdiction. Solflare is a wallet interface and does not issue, back, or custody this token. Nothing here is financial advice.

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iShares 7-10 Year Treasury Bond ETF (IEFON) price

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