Ondo Finance's tokenized silver product has turned heads lately—posting a 155% surge over the last month with a market cap hovering around $18 million. Here's what's driving the momentum: the protocol wraps exposure to iShares Silver Trust (SLV) into a blockchain-native asset, giving holders direct silver market participation. But that's not the whole story. The mechanism also factors in dividend reinvestment, meaning token holders benefit from yield generation typically locked in traditional finance. It's a neat play on the tokenized real-world asset thesis—taking conventional commodity exposure and making it composable within DeFi ecosystems. Whether this momentum sticks depends on adoption velocity and whether institutions see tokenized precious metals as a genuine alternative to spot or futures markets.