Arbitrum DAO to Allocate 4 Million $ARB to OpenEden’s TBILL Vault
We are pleased to announce that Arbitrum DAO has ratified a proposal to allocate 4 million $ARB to mint OpenEden’s TBILL tokens.
Several weeks ago, the Committee tasked to help diversify Arbitrum DAO’s treasury recommended allocating 4 million ARB tokens, to purchase OpenEden’s TBILL tokens.
Arbitrum’s Stable Treasury Endowment Program (STEP) Committee, selected OpenEden’s TBILLs from over 30 proposals submitted for their consideration.
Once completed, the move will add an estimated $3.25 million to OpenEden’s tokenized treasury bills, up from the current total value locked (TVL) for our TBILL tokens — which currently stands at around $73.5 million.
This outcome, coupled with OpenEden becoming the first and only tokenized T-Bill product to be awarded an “A” rating by Moody’s”, reflects the growing confidence in our approach to bringing real-world assets (RWA) on-chain.
We thank the Arbitrum STEP Committee, and the Arbitrum DAO members for their vote of confidence in OpenEden.
The OpenEden team is committed to bringing real-world yields on-chain for Web3 treasury managers, and to power products in the broader DeFi ecosystem.
If you’re interested in partnering with us to build with $TBILL tokens, or understanding how we can help to diversify your Web3 treasury, reach out to us!
