Today, we’re thrilled to announce the launch of the OpenEden TBILL Vault on the Arbitrum network. This marks a significant milestone as it is the first tokenized US Treasury Bills (T-Bills) product to be natively deployed on the Arbitrum network.
Full Audit Reports By Hacken: https://hacken.io/audits/openeden/
Key Highlights of Tokenized US Treasury on Arbitrum
- First Tokenized T-Bills Product built on Arbitrum natively
OpenEden is proud to pioneer the tokenization of T-Bills on the Arbitrum network, further facilitating unprecedented access to this traditional asset class.
- Access to the US Risk-Free Rate On-Chain
With the deployment on Arbitrum network, Arbitrum users have the option to access the tokenized US Treasury risk-free rate using their idle stablecoins, which can act as a secure, reliable, and alternate source of yield in the volatile world of DeFi.
- Smart Contract Audit by Hacken
To ensure the utmost security and reliability, the smart contracts powering the OpenEden TBILL Vault on the Arbitrum network have undergone a comprehensive audit by Hacken, a leading cybersecurity firm in the blockchain space.
Why Arbitrum was Chosen
- Leading Layer-2 Network
Arbitrum stands out as the leading Layer-2 network in terms of Total Value Locked (TVL), user activity, and stablecoin balances, making it the ideal and logical choice as the OpenEden TBILL Vault’s second supported network beyond Ethereum.
- EVM-Compatibility
Arbitrum’s EVM-compatibility facilitates seamless integration, deployment, and go-to-market for the OpenEden TBILL Vault.
- Affordable Gas Costs
Arbitrum’s low gas costs promote composability and ensure a user-friendly experience, allowing transaction fees for interaction with the OpenEden TBILL Vault to be minimised.
Best-in-Class Design of Tokenized US Treasury for the Next Generation of RWAs
- Smart Contract Security
The OpenEden TBILL Vault maintains the same level of smart contract security as its Ethereum counterpart, ensuring that user transactions are protected and secure at all times.
- OpenEden TBILL Vault Structuring
From institutional-grade service providers of the underlying US T-Bills portfolio to seamless UI/UX, the fundamental structure of the tokenized US Treasury Bill TBILL Vault remains consistent across different networks.
- Asset Protection, Regulatory Compliance & Bankruptcy-remoteness
OpenEden is committed to upholding institutional-grade frameworks to cater to the needs of Web3 foundations, DAOs, and corporate treasuries, ensuring asset protection, bankruptcy remoteness, and regulatory compliance.
Looking Ahead
- River Protocol Integration
The OpenEden TBILL Vault has integrated with River Protocol, a permissionless lending protocol that accepts TBILL tokens as collateral.
- Secondary Liquidity
As the ecosystem matures, users can expect to access secondary liquidity for TBILL tokens as OpenEden works with OTC markets, decentralised exchange pools, and real-world assets marketplaces to unlock additional avenues for liquidity.
The launch of the OpenEden TBILL Vault on the Arbitrum network represents a significant step forward for growing the real-world assets ecosystem, bridging traditional finance with the innovative world of DeFi. As we continue to push boundaries and explore new possibilities in developing the future of finance, we invite users to join us on this exciting journey.
Luke Xiao, Partnerships at Offchain Labs, stated, “This innovation from OpenEden unlocks unprecedented access to the U.S. risk-free rate for Arbitrum users, providing a secure and reliable yield alternative within DeFi. Audited by Hacken, this pioneering product opens exciting possibilities for the future of DeFi, and we’re thrilled to be at the forefront alongside OpenEden.”
Stay tuned for further updates and announcements from OpenEden!
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.
NOTE: 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/
