Openden Defi Review By Wootfi. Hello Wootfi visitors today we come with another defi article about Openden one of the defi project . Please note this article is not investment advice only written for educational purposes . Do your own research before investing your time or money at Openden.
About Openden Defi
The OpenEden Treasury Bills TBILL Vault (‘TBILL Vault’) is a smart contract vault that provides investors with direct exposure to a pool of short-dated U.S. Treasury Bills (“U.S. T-Bills”) through the minting of the TBILL token, which is backed 1:1 by U.S. T-Bills and a small portion of U.S. Dollar (“USD”) held as reserves for liquidity purposes.
The TBILL token token issuer is a registered professional fund (“Fund”) regulated by the British Virgin Islands Financial Services Commission (“Token Issuer”) and the underlying U.S. Treasury Bill assets are managed by a registered fund management company regulated in a tier-1 jurisdiction.
TBILL token holders will receive a return on their capital that reflects the returns generated by the underlying U.S. T-Bills portfolio held by the Fund. At any given time, the Fund will hold a portfolio of U.S. T-Bills, USD and USDC (in transit) with designated regulated on-chain and off-chain custodians.
Basic Details About Openden Review
| Project | Overview |
|---|---|
| Project Name | Openden |
| Token Synmbol | TBILL Token |
| Max Supply | N/A |
| Circulating Supply | 0 G$ |
| Twitter Page | Click Here To View |
| Documentation | Click Here To Visit Documentation |
| Official Website | Click Here To Visit Website |
Token Price
By minting and holding TBILL tokens, the Investor can earn a return through the TBILL token’s token price, which is expected to increase in value over time. That increment in token price directly reflects the returns generated by the underlying U.S. T-Bills held by the Fund’s portfolio as the underlying U.S. T-Bills converge to par value upon maturity. Should interest rates fluctuate, there may be mark-to-market risks that may affect the TBILL token price.
Interest Rate Risk
The Fund’s investments in U.S. T-Bills will change in value based on changes in interest rates. If interest rates rise, the fund’s portfolio value and correspondingly the TBILL token price may decline – and vice versa.
TBILL tokens are audited, transparent, and verifiable
Like you, we live by “don’t trust, verify”. Which is why we launched the market’s first proof-of-reserves that combines off-chain and on-chain auditability. Here is how we open the books.
Daily Reports
The reserve reports are published daily at the end of each business day – the first Web3 protocol to do so.
On-Chain Verification
The Chainlink feed gives you on-chain proof that TBILL tokens are backed 1:1 by U.S. Treasury securities, USDC, and US dollars.
Monthly NAV Snapshot
The net asset value reports are published monthly by a licensed fund administrator to provide transparency on assets and liabilities.
Monthly Attestations
The attestations are issued by TJ Assurance Partners PAC in accordance with Singapore Financial Reporting Standards.
Smart Contract Audits
The smart contracts are audited by multiple auditors to minimise the risks of security vulnerabilities and hacks.
Openden Defi Principles
Champion institutional DeFi
They are building a new DeFi paradigm while maintaining appropriate safeguards on financial integrity, compliance, and customer protection.
Embrace full transparency
From daily reports and monthly attestations to real-time, on-chain proof-of-reserves, we are committed to transparency in everything we do.
Expand financial inclusion
They aim to “flatten the world” by leveraging DeFi to tokenize and unlock trillions of dollars in value from real-world assets.
Improve financial wellbeing
They seek to help Web3 institutions and individuals find the most productive use of their digital assets by harnessing real-world assets.
Built by crypto-natives and Wall Street bankers
The team has decades of combined industry experience in institutional finance and technology, honed at Goldman Sachs, Morgan Stanley, Deutsche Bank, Barclays, Gemini, SEA, Accenture, BlockFi, and Binance. With a track record across the digital asset ecosystem, OpenEden is poised to unlock trillions of dollars from real-world assets through DeFi.
Conclusion
OpenEden Labs stands at the forefront of a transformative mission to bridge traditional finance with decentralized cryptocurrency blockchain technology. Their primary goal is to usher in an era in which real assets seamlessly integrate with DeFi, unleashing trillions of dollars worth of value for them all to share in.
OpenEden Labs was founded on the belief that internet-native money can revolutionize access to real world assets and increase financial opportunities for everyone. By harnessing decentralized technologies, OpenEden Labs aspires to build an inclusive economic ecosystem where economic activity flows freely without restrictions or permission barriers.
FAQ
What is OpenEden Labs’s mission?
OpenEden Labs is on a mission to bring real-world assets to decentralized finance (DeFi) with the goal of unlocking trillions of dollars in value. The company envisions a future where internet-native money makes real-world assets accessible to everyone, fostering a more inclusive, permissionless, and free-flowing economy.
How does OpenEden Labs plan to achieve its mission?
OpenEden Labs aims to achieve its mission by leveraging decentralized technologies to integrate real-world assets into the DeFi ecosystem. This involves creating a seamless bridge between traditional finance and blockchain, allowing for the frictionless flow of assets and value on a global scale.
What is the significance of bringing real-world assets to DeFi?
Bringing real-world assets to DeFi is significant as it expands the scope of decentralized finance beyond purely digital assets. This unlocks trillions of dollars in value traditionally tied to the physical world, making these assets more accessible, tradable, and usable within the decentralized financial landscape.
Why does OpenEden Labs believe in internet-native money?
OpenEden Labs believes that internet-native money has the potential to revolutionize access to real-world assets. By embracing decentralized financial principles, internet-native money can create a more inclusive financial ecosystem that is permissionless and facilitates a free flow of economic activity.
How does OpenEden Labs contribute to a more inclusive economy?
OpenEden Labs contributes to a more inclusive economy by democratizing access to financial opportunities. The integration of real-world assets into DeFi ensures that a broader audience can participate in the global economy, reducing barriers and promoting financial inclusivity.
