We are pleased to announce that Arbitrum DAO has ratified a proposal to allocate 4 million $ARB to mint OpenEden’s TBILL tokens via the TBILL Vault.
Several weeks ago, the Committee tasked to help diversify Arbitrum DAO’s treasury recommended allocating 4 million ARB tokens to purchase OpenEden’s TBILL tokens.
Arbitrum’s Stable Treasury Endowment Program (STEP) Committee selected OpenEden’s TBILLs from over 30 proposals submitted for their consideration.
Source: Snapshot Vote Ratifying the STEP Committee Proposal
Once completed, the move will add an estimated $3.25 million to OpenEden’s tokenized treasury bills, up from the current total value locked (TVL) for our TBILL tokens, which currently stands at around $73.5 million.
Source: OpenEden TVL on DeFi Llama, 12 July, 2024
This outcome, coupled with OpenEden becoming the first and only tokenized T-Bill product to be awarded an “A” rating by Moody’s, reflects the growing confidence in our approach to bringing real-world assets (RWA) on-chain.
We thank the Arbitrum STEP Committee and the Arbitrum DAO members for their vote of confidence in OpenEden.
The OpenEden team is committed to bringing real-world yields on-chain for Web3 treasury managers and to powering products in the broader DeFi ecosystem.
If you’re interested in partnering with us to build with $TBILL tokens, TBILL Vault, or understanding how we can help to diversify your Web3 treasury, reach out to us!
About OpenEden
OpenEden operates a leading real-world asset (RWA) tokenization platform, renowned for its unmatched focus on regulatory standards and advanced financial technology. Founded in 2022, OpenEden bridges traditional and decentralized finance by providing, through its regulated entities in Bermuda and the BVI, secure, transparent, and compliant on-chain access to tokenized RWA. OpenEden is tokenizing global finance with a core focus on compliance and innovation. To learn more, visit www.openeden.com.
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