OpenEden
About OpenEden
OpenEden offers a tokenized U.S. Treasury product, TBILL, which allows users to earn yields on their USDC through a fully compliant, on-chain vault that provides 24/7 minting and redemption. This solution addresses the opportunity cost of holding stablecoins by providing a risk-free yield backed by AAA-rated assets, ensuring transparency and security through independent audits and proof-of-reserves.
```xml <problem> Holding stablecoins like USDC incurs an opportunity cost due to the lack of yield, while traditional access to U.S. Treasury Bills is limited by trading hours and intermediaries. Existing solutions lack the transparency and on-chain accessibility desired by DeFi users. </problem> <solution> OpenEden offers TBILL, a tokenized U.S. Treasury Bill product that allows users to earn yields on their USDC holdings through a fully compliant, on-chain vault. TBILL provides 24/7 minting and redemption, enabling continuous access to U.S. Treasury yields without traditional market constraints. The underlying assets are AAA-rated U.S. Treasury Bills, providing a risk-free yield alternative to holding stablecoins. OpenEden enhances transparency through independent audits, daily NAV reports, and proof-of-reserves, combining on-chain and off-chain auditability. </solution> <features> - Tokenized U.S. Treasury Bills (TBILL) providing exposure to AAA-rated assets - 24/7 on-chain minting and redemption of TBILL tokens for USDC - Daily NAV reports and proof-of-reserves for transparent asset tracking - Smart contract audited by multiple firms to minimize security vulnerabilities - Investment-grade rating from Moody's - Custody of underlying U.S. Treasury Bills with a regulated Swiss custodian - Real-time settlement of transactions via smart contracts - Hedge against stablecoin de-peg risk due to USD denomination of underlying assets </features> <target_audience> OpenEden's TBILL is designed for DAO treasuries, crypto funds, and DeFi users seeking a transparent and compliant way to earn yield on their USDC holdings with minimal risk. </target_audience> <revenue_model> OpenEden generates revenue through fees associated with the minting and redemption of TBILL tokens. </revenue_model> ```
What does OpenEden do?
OpenEden offers a tokenized U.S. Treasury product, TBILL, which allows users to earn yields on their USDC through a fully compliant, on-chain vault that provides 24/7 minting and redemption. This solution addresses the opportunity cost of holding stablecoins by providing a risk-free yield backed by AAA-rated assets, ensuring transparency and security through independent audits and proof-of-reserves.
When was OpenEden founded?
OpenEden was founded in 2022.
How much funding has OpenEden raised?
OpenEden has raised 1500000.
- Founded
- 2022
- Funding
- 1500000
- Employees
- 19 employees