The First Tokenized U.S. Treasury Bill Vault Deployed on Arbitrum, Bringing RWA Risk-Free Yield to the Network

OpenEden
3 min readFeb 27, 2024

Today, we’re thrilled to announce the launch of the OpenEden TBILL Vault on the Arbitrum network. This marks a significant milestone as it is the first tokenized U.S. Treasury-Bills (T-Bills) product to be natively deployed on the Arbitrum network.

Full Audit Reports By Hacken: https://hacken.io/audits/openeden/

Key Highlights

  • First Tokenized T-Bills Product built on Arbitrum natively

OpenEden is proud to pioneer the tokenization of T-Bills on the Arbitrum network, further facilitating unprecedented access to this traditional asset class.

  • Access to the U.S. Risk-Free Rate On-Chain

With the deployment on Arbitrum network, Arbitrum users have the option to access the U.S. risk free rate using their idle stablecoins, which can act as a secure, reliable and alternate source of yield in the volatile world of DeFi.

  • Smart Contract Audit by Hacken

To ensure the utmost security and reliability, the smart contracts powering the OpenEden TBILL Vault on the Arbitrum network have undergone a comprehensive audit by Hacken, a leading cybersecurity firm in the blockchain space.

Why Arbitrum was Chosen

  • Leading Layer-2 Network

Arbitrum stands out as the leading Layer-2 network in terms of Total Value Locked (TVL), user activity, and stablecoin balances, making it the ideal and logical choice as the OpenEden TBILL Vault’s second supported network beyond Ethereum.

  • EVM-Compatibility

Arbitrum’s EVM-compatibility facilitates seamless integration, deployment and go-to-market for the OpenEden TBILL Vault.

  • Affordable Gas Costs

Arbitrum’s low gas costs promote composability and ensure a user-friendly experience, allowing transaction fees for interaction with the OpenEden TBILL Vault to be minimised.

Best-in-Class Design for the Next Generation of RWAs

  • Smart Contract Security

The OpenEden TBILL Vault maintains the same level of smart contract security as its Ethereum counterpart, ensuring that user transactions are protected and secure at all times.

  • OpenEden TBILL Vault Structuring

From institutional-grade service providers of the underlying US T-Bills portfolio to seamless UI/UX, the fundamental structure of the OpenEden TBILL Vault remains consistent across different networks.

  • Asset Protection, Regulatory Compliance & Bankruptcy-remoteness

OpenEden is committed to upholding institutional-grade frameworks to cater to the needs of Web3 foundations, DAOs, and corporate treasuries, ensuring asset protection, bankruptcy-remoteness and regulatory compliance.

Looking Ahead

  • River Protocol Integration

The OpenEden TBILL Vault has integrated with River Protocol, a permissionless lending protocol that accepts TBILL tokens as collateral.

  • Secondary Liquidity

As the ecosystem matures, users can expect to access secondary liquidity for TBILL tokens as OpenEden works with OTC markets, decentralised exchange pools and real world assets marketplaces to unlock additional avenues for liquidity.

The launch of the OpenEden TBILL Vault on the Arbitrum network represents a significant step forward for growing the real-world assets ecosystem, bridging traditional finance with the innovative world of DeFi. As we continue to push boundaries and explore new possibilities in developing the future of finance, we invite users to join us on this exciting journey.

Luke Xiao, Partnerships at Offchain Labs, stated, “This innovation from OpenEden unlocks unprecedented access to the U.S. risk-free rate for Arbitrum users, providing a secure and reliable yield alternative within DeFi. Audited by Hacken, this pioneering product opens exciting possibilities for the future of DeFi, and we’re thrilled to be at the forefront alongside OpenEden.”

Stay tuned for further updates and announcements from OpenEden!

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OpenEden

First smart contract vault to offer direct access to U.S. Treasury Bills.