After the 2020–2021 blowout boom, the DeFi landscape experienced a string of projects blowing up on unsustainable returns. With liquidity being pulled out and reward tokens no longer being desirable—users looking around asking themselves, “What’s next?”—many came to understand that DeFi needed a source of actual, sustainable yield.
And that is exactly why OpenEden exists.
What is OpenEden?
OpenEden is an RWA protocol offering real yield on U.S. Treasury securities on-chain — enabling institutions, DAOs, and Web3 investors to hold low-risk, high-liquidity assets anywhere and at any time, 24/7 on the blockchain.
As an end-to-end tokenization platform, OpenEden allows institutions and DAOs to manage their treasuries with tokens for U.S. Treasury Bills — some of the safest and most reliable money in the world.
Since its release in 2023, OpenEden has marked an important milestone: it was given an “A-bf” fund rating by Moody’s, the globe’s inaugural RWA token issuer to receive a bond fund rating from the global credit agency.
OpenEden is not just an on-chain protocol — it is a completely regulated legal and financial framework designed to bridge the gap between traditional finance (TradFi) and DeFi.
A BVI-domiciled investment fund operates via a licensed investment manager, who invests in U.S. Treasury Bills.
- The underlying instruments are securely held by third-party custodians licensed for safety and compliance.
- The $TBILL token is issued in quantities corresponding to the underlying U.S. Treasuries, with on-chain proof of ownership and right to yield.
- This architecture makes OpenEden a legitimate bridge from blockchain to TradFi with a promise that all the tokens issued are 1:1 backed by real-world assets.
The project envisions real economic value owned and savored by people on the blockchain — directly — in a worldwide, permissionless, open, and equitable financial system, with real-world assets and traditional financial returns on the blockchain.
OpenEden Ecosystem
OpenEden is building an infrastructure layer that connects real-world assets (RWA) and traditional financial returns to the blockchain through three pillars of work:
- TBILL Vault – a tokenized U.S. Treasury Bill platform that earns real yield.
- USDO Stablecoin – a TBILL-backed stablecoin that automatically earns interest.
- EDEN Token – the utility and governance token that powers the entire network.
TBILL – Tokenized Treasury Vault
At the heart of OpenEden is TBILL, a tokenized U.S. Treasury Vault.
Nature and Product Structure
Nature and Product Structure – Source: OpenEden Whitepaper
TBILL Token is a representative of the economic benefit of the EIP-20 contribution of the Investor in the Fund. Investors deposit USDC to mint TBILL Token, the investor will have the legal right to the exchange value of the net assets held by the Fund.
Currently, the minting of TBILL is completely through the TBILL Vault by the examples in the whitepaper and has completed all the KYC/KYB steps.