We are pleased to announce that OpenEden has achieved a significant milestone, surpassing $75 million in Total Value Locked (“TVL”) for our tokenized US Treasury Bills, making us Asia’s largest issuer!
This comes fast on the heels of our announcement celebrating our crossing $50 million in TVL.
Source: OpenEden’s TBILL TVL DeFiLlama, dated 23 July 2024)
How OpenEden Delivers Best-In-Class Yields from Tokenized US Treasury Bills
Arbitrum DAO recently ratified a proposal to allocate 4 million $ARB to mint OpenEden’s TBILL tokens, from over 30 proposals submitted for their consideration.
One factor that distinguishes us is our approach to tokenizing RWA. Over the past 180 days, OpenEden was the best-performing tokenized US Treasury Bills product.
For DAO treasury managers, Web3 CFOs, or DeFi protocols with hundreds of millions, or sometimes billions of assets under management (AUM), even slight differences in net yields can make a significant difference.
Source: Market Comparison Steakhouse Financial, dated 23 July 2024)
Not all tokenized T-bill products are built the same (even if the underlying assets are).
Why?
How tokenized assets are structured can affect their cost structure, which impacts the net yield that token holders receive.
Stacking multiple layers of intermediaries (e.g., a tokenization platform, an investment manager, an issuer, etc.) adds to the complexity, risks, and cost structure of a tokenized asset.
At OpenEden, we’ve built an end-to-end process from issuance to investment management. Building all these elements of the tokenized asset stack in-house comes with its tradeoffs.
We may not be the fastest to ship because we spend much time engaging with and reporting to regulators, banks, and auditors.
But the results speak for themselves. We are confident that our approach to tokenizing real-world assets (RWA) provides a robust foundation for the space.
How we’re different from other tokenized RWA products
The Singapore Standard
Another way we distinguish OpenEden in the RWA space is by ensuring that we comply with some of the highest standards that govern traditional finance.
The fund that backs OpenEden’s $TBILL tokens is managed by our regulated entity that is a Registered Fund Management Company (RFMC) out of Singapore.
Obtaining (and maintaining) this status is no mean feat. It requires the manager to undergo a rigorous, ongoing assessment of its capabilities by the Singapore financial regulator, especially in a post-FTX environment.
Some key admission criteria and ongoing requirements for the RFMC (Source: Monetary Authority of Singapore)
We are committed to building tokenized products that our customers can trust by operating a regulated entity in a top-notch jurisdiction with high standards.
It Is Always Day One
The RWA space is nascent and rapidly growing.
We are constantly looking to work with partners to bring tokenized RWA as a source of yield to the DeFi ecosystem.
If you’re interested in partnering with us for our tokenized US Treasury Bills and more, 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.
Disclaimer
The content is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the US and the District of Columbia), nor in such jurisdictions where such announcement would require registration and/or approval with any relevant governmental or regulatory authorities (“restricted jurisdictions”). The content is not an offer of financial products or digital assets for sale in the US or such other restricted jurisdictions. The digital assets referred to herein have not been and will not be registered with any regulatory authority or framework, including under the US Securities Act of 1933, as amended and may not be offered or sold in the US or such other restricted jurisdictions, except pursuant to an applicable exemption from registration. No public offering of the digital assets is being made in the US or restricted jurisdictions. For full details on the applicable T&Cs, please refer to https://docs.openeden.com/
