OpenEden is a blockchain-based platform that enables investors to earn U.S. Treasury Bill yields on-chain. The OpenEden TBILL Vault is the world's first smart-contract vault for U.S. Treasury Bills, allowing eligible investors to mint and redeem TBILL tokens 24/7 with instant liquidity.
When you deposit USDC into the OpenEden TBILL Vault, you receive TBILL tokens that represent a proportional share of the underlying portfolio of short-dated U.S. Treasury Bills. The fund is managed by licensed fund managers complying with strict regulatory and reporting requirements, and is issued out of a bankruptcy-remote BVIFSC regulated professional fund.
OpenEden generates yield by investing deposited stablecoins into short-dated U.S. Treasury Bills — the safest and most liquid government-backed instruments in the world. The underlying portfolio holds actual T-Bills managed by professional, regulated fund managers.
The yield is reflected in the continuously increasing price of the TBILL token. Rather than distributing periodic interest payments, OpenEden accrues yield directly into the token price, meaning each TBILL token is worth more USDC over time. The current 7-day yield and token price are displayed transparently on the dashboard in real time.
TBILL tokens issued by OpenEden are only available to Professional Investors as defined under the BVI Securities and Investment Business Act. Access to the OpenEden TBILL Vault is restricted to eligible customers who have completed onboarding in accordance with the platform's Terms and Conditions.
Eligibility requirements include passing a Know Your Customer (KYC) and Anti-Money Laundering (AML) screening process. Certain jurisdictions may be restricted. U.S. persons and residents of sanctioned countries are typically not eligible. Please review the full Terms and Conditions on the OpenEden documentation portal before applying.
OpenEden currently supports multiple blockchain networks to maximize accessibility for institutional and professional investors. The TBILL Vault is available on:
Ethereum — the primary network with the highest liquidity and widest wallet compatibility.
Arbitrum — Ethereum's leading Layer 2 network, offering lower transaction costs and faster confirmations.
XRPL (XRP Ledger) — providing access to the XRP ecosystem and its native payment infrastructure.
You can switch between networks directly within the OpenEden dashboard interface. The same TBILL vault economics and yield accrual apply across all supported networks.
OpenEden maintains a transparent and straightforward fee structure:
Transaction Fee: 0.05% applied on each mint (deposit) and redemption (withdrawal) transaction.
Expense Ratio: 0.35% per annum, charged at the fund level for portfolio management, custody, and administration costs.
These fees are clearly displayed in the OpenEden dashboard before you confirm any transaction. There are no hidden fees, lock-up periods, or exit penalties. Gas fees on the respective blockchain network are separate and depend on current network conditions. On Arbitrum, gas costs are significantly lower than on Ethereum mainnet.
OpenEden takes a multi-layered approach to security and transparency:
Bankruptcy Remote Structure: TBILL tokens are issued by Treasury Bills Institutional Liquidity Limited, a BVIFSC regulated professional fund structured as a bankruptcy-remote entity, protecting investors from platform-level insolvency risk.
S&P Global "AA+" Rating: The OpenEden TBILL Fund has been awarded an "AA+" rating by S&P Global Ratings, one of the highest possible credit ratings, reflecting the exceptional credit quality of the underlying T-Bill portfolio.
Real-Time On-Chain Transparency: The TBILL token price, total value locked, and 7-day yield are updated in real time on-chain and verifiable directly via the smart contract on Etherscan.
Professional Custody: Underlying assets are held by institutional-grade custodians. The portfolio is managed by BNY-managed licensed fund managers operating under strict regulatory and reporting requirements.
Minting and redeeming TBILL tokens on OpenEden is straightforward for onboarded investors:
To Mint (Deposit):
1. Connect your whitelisted wallet to the OpenEden dashboard.
2. Select the "Deposit" tab and enter the amount of USDC you wish to deposit.
3. Approve the USDC allowance and confirm the mint transaction.
4. TBILL tokens will appear in your wallet immediately after the transaction is confirmed on-chain.
To Redeem (Withdraw):
1. Select the "Withdraw" tab on the OpenEden dashboard.
2. Enter the amount of TBILL tokens you wish to redeem.
3. Confirm the redemption transaction.
4. USDC will be returned to your wallet at the current TBILL token price, 24/7 with instant liquidity.
OpenEden supports a wide range of wallet and custody solutions suitable for institutional investors:
Self-Custody Wallets: MetaMask, Coinbase Wallet, WalletConnect-compatible wallets, and any standard Ethereum-compatible wallet that supports ERC-20 tokens.
Institutional Custody: OpenEden supports Fireblocks integration for institutional clients. If you use Fireblocks, ensure your new OpenEden V2 smart contract address is whitelisted in your Fireblocks policy engine.
Hardware Wallets: Ledger and Trezor devices are fully compatible when used in conjunction with MetaMask or other compatible browser extension wallets.
Your wallet address must be whitelisted by OpenEden as part of the onboarding process before you can interact with the TBILL Vault smart contracts.
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