Earn U.S. Treasury

yields on-chain

The only tokenized U.S. Treasury product with an “A” rating from Moody’s.

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Asia’s Largest Issuer. Trusted By the World’s Best.
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DeFi-ning the Standard for Tokenized Treasuries

$TBILL is The Best-Performing Tokenized Treasury Product over 180 days.

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Token Price$1.0662891.92%View contract30 Jun6 Sep12 Nov1.0336651.0272041.0207441.0142831.0078231W1M6MYTD1YMAXSwap USDCBalance120,000.00USDCMAX100,000.00Rate1 TBILL ≈ 1.06078 USDCTBILL94,270.21DepositAllowance100,000.00 USDCEstimated fees50 USDCDeposit WithdrawTBILL VAULTLast update: 2 mins agoTotal Value Locked$Price Per TBILL TokenEstimated APY%

We’re Built Different

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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.

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More Transparency

Token subscription, issuance, and redemption are all executed on-chain, while proof-of-reserves and attestations by independent parties provide maximum transparency.

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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.

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TBILL 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.

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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.

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Big Four Accounting Firm Audit

Independent audit completed by Ernst and Young and received second highest rating.

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Smart Contract Audits

Our smart contracts are audited by multiple auditors to minimise the risks of security vulnerabilities and hacks.

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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.

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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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OpenEden Labs is building the bridge to a new financial system. Our mission is to bring real-world assets to DeFi to unlock trillions of dollars in value.

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*Weighted average yield to maturity (gross) of the Vault's U.S. Treasury Bills portfolio.

Hill Lights International Ltd ("HLI", the token issuer) is a professional fund established under the British Virgin Islands Securities and Investment Business Act 2010. The Vault is developed by OpenEden Labs, which is a financial technology company and not a regulated entity, depository, bank, or credit union.

The information contained in this website is not intended to solicit you to purchase any financial product directly from us. TBILL tokens are NOT offered by us or by any affiliated entity of ours directly to the public and will only be offered by our affiliated entity to Professional Investors ("PI"). Under the British Virgin Islands Securities and Investment Business Act, a PI is a person whose ordinary business involves the acquisition or disposal of property of the same kind as the property of the fund, or a person who has signed a declaration that he or she, whether individually or jointly, has a net worth in excess of US$1,000,000, and that he or she consents to be treated as a PI. TBILL tokens have not been and will not be registered under the U.S. Securities Act of 1933 or with any securities compliance-first authority of any State or other jurisdiction of the U.S. You will only be able to purchase TBILL tokens from us if you qualify as a PI. Should you wish to redeem TBILL tokens, then you would need to onboard as a PI and undergo the necessary KYC/AML screening.

HLI does not provide investment, tax, or legal advice, nor does it broker trades on your behalf. You should consult your legal or tax professional regarding your specific situation. HLI may provide educational information on digital tokens, including those not supported by HLI. Information may include but is not limited to, blog posts, articles, links to third-party content, news feeds, tutorials, and videos. The information provided on OpenEden’s platform or any third-party sites does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the content as such.

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