As blockchain technology becomes more popular, there is a growing number of investors looking for a simple way to use traditional financial assets on-chain. OpenEden addresses this need by turning Treasury securities into tokens that anyone with a crypto wallet can use. This makes it easier for investors in the Web3 space to access reliable, low-risk investments without giving up on the benefits of blockchain, such as quick transactions and transparency.
As of September 2025, OpenEden has two main products: TBILL and USDO. Let’s take a closer look.
TBILL Vault and Token
OpenEden’s TBILL Vault allows investors to gain on-chain exposure to short-term US Treasury Bills by minting TBILL tokens, each backed 1:1 by these government securities. The fund is regulated in the British Virgin Islands and holds a Moody’s “A-bf” rating, with portfolio management by BNY Mellon.
Investors can deposit USDC to receive TBILL tokens, which they control in whitelisted wallets. TBILL tokens offer secure, liquid, and low-risk returns with instant, 24/7 on-chain settlement.
By combining trusted Treasury assets with blockchain technology and institutional-grade partners, the TBILL Vault can provide a transparent, efficient way for crypto investors to access government-backed yield.
TBILL risks
As with any investment, there are certain risks worth considering before using OpenEden’s TBILL:
Interest rate risk: Changes in interest rates can cause the value of TBILL tokens to change significantly.Liquidity risk: Large or sudden withdrawals might make it difficult to sell Treasury Bills quickly without losing value.Credit risk: The investment depends on the US government’s ability to repay its debts.Market risk: Political events, economic shifts, or other global issues can impact the value of the investment.Smart contract risk: Although the smart contracts are audited, there is still a chance of technical problems.Transaction risk: The timing and size of deposits or withdrawals can also affect the investment’s performance.
USDO Stablecoin
OpenEden also offers a stablecoin called USDO, which is presented as a rebasing yield-bearing token. In simple terms, USDO is designed to generate daily yield while being pegged to the US dollar at a 1:1 ratio. Its rebasing mechanism adjusts the peg daily to maintain a stable value while generating yield to token holders. This yield comes from reserves made up mostly of tokenized Treasury securities and other low-risk assets.
cUSDO
There is also a version called Compounding USDO (cUSDO), which is a wrapped version of USDO designed for use on platforms that don’t support rebasing tokens like USDO. The difference between the two is purely operational. While USDO has a stable price and provides yield through its daily rebasing mechanism, cUSDO accumulates yield internally, meaning its value increases over time in proportion to the yield “accumulated.”
The interest accrued is the same for USDO and cUSDO, and users can easily convert between the two via the cUSDO smart contract.
USDO risks
Some of the potential risks of using USDO and cUSDO include:
Reserve risk: USDO reserves are backed by tokenized funds linked to short-term US Treasury securities, which may lose value due to market changes, counterparty defaults, or interest rate fluctuations.Smart contract risk: Possible bugs or hacks.Exchange and trading risk: Liquidity, market fluctuations, listing status, or exchange failures can impact USDO’s value or availability.Banking risk: Changes in banking relationships or rules may affect the ability to deposit or withdraw fiat currency connected to USDO.No deposit insurance: Holdings are not insured against loss.Blacklisting risk: Accounts linked to illegal activity may be blocked.Transaction risk: Errors or wrong transactions can lead to permanent losses.
Why OpenEden?
Easy access to low-risk assets
Many DeFi protocols have experienced volatility and yield reductions, driving interest toward safer investments. US Treasury Bills have long been viewed as one of the safest options due to their sovereign backing and high liquidity. OpenEden’s goal is to provide easy on-chain access to this asset class.
Fast and transparent
Trading Treasury securities the traditional way can be slow, sometimes taking days to settle. OpenEden uses smart contracts on blockchain to enable instant, around-the-clock purchase and sale of TBILL tokens. Investors also receive regular, audited reports showing the value of the fund.
Compliant
According to their documentation, OpenEden works within clear regulatory rules set by authorities in the British Virgin Islands and Bermuda. It partners with reputable banks, auditors, and legal experts to keep investor funds secure and the process transparent.
Designed for professional investors
To use OpenEden, investors must complete identity checks and meet certain professional or accredited investor requirements. This is to ensure the platform operates legally and safely.
How to Get Started With OpenEden
Create an account and verify: Investors go through a KYC (Know Your Customer) process to verify identity and enable wallet whitelisting.Deposit USDC to receive tokens: After verification, investors deposit USDC to mint TBILL tokens or mint USDO stablecoins.Hold or trade: Investors keep control of their tokens while earning yield and can trade or redeem them as needed.Redeem tokens for USDC: When desired, tokens can be exchanged back for USDC according to the platform’s terms.
The EDEN Token
The EDEN token has multiple uses in the OpenEden ecosystem, including:
Staking rewards: Users can earn rewards by staking (locking up) EDEN tokens.Governance: EDEN holders can vote on key decisions like how many new tokens are released and what new features or products should be developed.Growth: Some EDEN tokens may be reserved for future reward campaigns to support the growth of new products.Fee discounts: If you hold EDEN tokens, you might get discounts on fees when using OpenEden’s services.
OpenEden (EDEN) on Binance HODLer Airdrops
On September 26, 2025, Binance announced EDEN as the 47th project on the Binance HODLer Airdrops. Users who subscribed their BNB to Simple Earn and/or On-Chain Yields products from September 23 to 25 were eligible to receive EDEN airdrops. A total of 15 million EDEN tokens were allocated to the program, accounting for 1.5% of the total token supply.
EDEN was listed with the Seed Tag applied, allowing for trading against the USDT, USDC, BNB, FDUSD, and TRY pairs.
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