TBILL Token | Stablecoins | Bank Deposits | |
|---|---|---|---|
Current Yield | More than 5% | 0% | Less than 1% |
Credit Rating | AAA | Below AAA | |
Earn Real-Time Yield | |||
Liquidity | $171.3B | $33.3B | N/A |
Full Transparency | |||
Low Default Risk | Dependent | ||
Instant Settlement | Extra fees | ||
No Stablecoin Exposure | |||
No Banks Exposure |
Earn %*U.S. Treasury
U.S. Treasury
yields on-chain
The only tokenized U.S. Treasury product with an “A” rating from Moody’s.
$0 TVL
Asia’s Largest Issuer. Trusted By the World’s Best.
Asia’s Largest Issuer. Trusted By the World’s Best.
DeFi-ning the Standard for Tokenized Treasuries
$TBILL is The Best-Performing Tokenized Treasury Product over 180 days.
Learn MoreWe’re Built Different
Moody’s Credit Rating
OpenEden’s TBILL is the first and only tokenized product to receive an “investment grade” rating by Moody’s.
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More Compliant
The TBILL token issuer is a professional fund established under the British Virgin Islands Securities and Investment Business Act 2010. Managed by regulated fund management company in Singapore.
More Transparency
Token subscription, issuance, and redemption are all executed on-chain, while proof-of-reserves and attestations by independent parties provide maximum transparency.
More DeFi
Gain exposure to U.S. Treasuries without the constraints of U.S. trading hours. TBILL token holders enjoy 24/7 minting & redemption, thanks to smart contracts. DeFi projects can build on TBILL's ERC-20 tokens.
Learn MoreTBILL tokens are audited, transparent, and verifiable
Like you, we live by “don’t trust, verify”. Which is why we launched the market’s first proof-of-reserves that combines off-chain and on-chain auditability. Here is how we open the books.
Daily NAV Reports
Our Fund NAV reports are published daily at the end of each business day. Token holders can easily access account statements daily in our dashboard, for fuss-free financial reporting.
Big Four Accounting Firm Audit
Independent audit completed by Ernst and Young and received second highest rating.
Smart Contract Audits
Our smart contracts are audited by multiple auditors to minimise the risks of security vulnerabilities and hacks.
Ecosystem
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Gnosis Safe
WalletConnect
Made for DAO treasuries, crypto funds, and DeFi users
TBILL Token
Stablecoins
Current Yield
More than 4%
0%
Credit Rating
AAA
Earn real-time yield
Liquidity
$171.3B
$33.3B
Full Transparency
Low Default Risk
Instant Settlement
No Stablecoin Exposure
No Banks Exposure
What Others Say
The OpenEden $TBILL token adresses the opportunity cost of holding stablecoins by offering risk-free yield on chain. OpenEden's transparent and regulatory-compliant approach, coupled with a user-friendly UI/UX instils confidence in users. I look forward to seeing the team build new use cases with $TBILL as financial lego for DeFi.
Superscrypt
Temasek-owned web3 VC
The OpenEden $TBILL token adresses the opportunity cost of holding stablecoins by offering risk-free yield on chain. OpenEden's transparent and regulatory-compliant approach, coupled with a user-friendly UI/UX instils confidence in users. I look forward to seeing the team build new use cases with $TBILL as financial lego for DeFi.
Superscrypt
Temasek-owned web3 VC
Frequently Asked Questions
The OpenEden TBILL Vault is a smart contract used to facilitate the on-chain subscription, issuance, and redemption of TBILL tokens in exchange for USDC. Smart contracts are self-executing programs that allow transactions between multiple parties to be conducted without an intermediary when predetermined conditions are met. Transactions with the OpenEden TBILL Vault are settled in real time on a 24/7 basis. Minting is instant while redemption will be immediate provided there is USDC liquidity.
TBILL is a prospectus-based token backed by U.S. Treasury Bills, which are zero-coupon government bonds issued at a discount to their par value and redeemed at par upon maturity. Because U.S. Treasury Bills are backstopped by the U.S. government, they are considered to be the “risk-free” rate and one of the safest investments in the world.
A proof-of-reserve will audit both the on-chain and off-chain assets of the OpenEden TBILL Vault. Off-chain data is obtained directly from the OpenEden TBILL Vault’s custodians and service providers. Daily reports from the custodian are also uploaded on the platform, which provides attestations of all off-chain assets.
Similar to yield-bearing tokens that accrue interest over time, TBILL tokens have an exchange rate that tracks the prices of the portfolio of U.S. Treasury Bills with interest accrued. The TBILL token exchange rate is calculated as the net asset value (NAV) per token. The exchange rate can be derived by dividing the NAV of the OpenEden TBILL Vault by the total outstanding supply of TBILL tokens.
TBILL tokens are denominated in USD as most of the underlying assets are U.S. Treasury Bills. The TBILL token price in USDC is based on the prevailing USDC/USD market exchange rate. Should there be a USDC de-peg, then the price of TBILL tokens in USDC terms will rise accordingly. TBILL token holders also have the option to redeem their tokens for other digital assets should USDC be unavailable for redemption.
The OpenEden TBILL Vault holds U.S. Treasury Bills with a regulated and qualified custodian, which has a full banking licence from the Swiss Financial Market Supervisory Authority. Under Swiss regulations, licensed banks are required to hold client assets, or securities, in segregated accounts from the bank's own balance sheet, which means the bank cannot use client assets to pay its own debt or obligations, and it must keep those assets separate to protect client interests. We plan to add more qualified custodians in the future. In addition, the Vault holds minimal cash in bank deposits to reduce the risk of banking insolvencies.
TBILL token holders are contractually entitled to a share of the redemption value of the underlying assets held in the OpenEden TBILL Vault corresponding to their investment. A token holder who wishes to redeem their investment will be paid an amount equal to the redemption price per token multiplied by the number of tokens set to be redeemed, net of fees.
Asia’s Largest Tokenized T-Bill
Earn sustainable yields from AAA-rated assets on your USDC, with 24/7 minting & redemption.
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