OpenEden Overview
What is OpenEden?
What is OpenEden?
OpenEden is a Real World Assets protocol that allows users to deposit USDC into TBILL-Vault to receive TBILL tokens backed by short-term US government bonds, making it possible for non-US investors to Access stable interest rates without risk.
TBILL token has a standard of EIP-20, to be able to participate in the protocol, users need to conduct the KYC process. TBILL tokens can currently only be minted and redeemed in TBILL-Vault and only on successful KYC wallets ( whitelisted wallets) can only be used. TBILL tokens can also only be transferred between whitelisted wallets, in the future the project will build applications around this stablecoin.
Mechanism of action
In TBILL-Vault there are 4 main components:
- Investor: Investors deposit USDC into TBILL-Vault and receive TBILL tokens in return.
- Token Issuer: Hill Lights International Limited is the party issuing the token.
- Bankruptcy-remote Special Purpose Vehicle (SPV): OpenEden Cayman Ltd is the entity holds and invests the fund’s assets in separate, managed and qualified accounts, entirely under the management of the Token Issuer.
- Fintech Service Provider: OpenEden Labs is the developer of TBILL-Vault, this is a financial technology company and does not have the right to manage money directly related to users.
Fee
- Management fees will be charged by Token Issuer for portfolio management.
- Transaction fees will be charged for two things: registration and TBILL token refund. Transaction fees will be used to pay gas fees on the Ether network, bank transfer fees, and conversion fees to fiat currency. Fees during the week will be cheaper than weekends, especially the lowest transaction fee of 25 USDC.
Core Team
Jeremy Ng: Co-Founder OpenEden
- January 2022 He received his CFA degree
- He worked in Deutsche Bank as director of structured product distribution. He used to work as Head HK & SG at Goldman Sachs.
- He worked for Leonteq as a managing director for 4 years. In June 2020, he became a managing director at Gemini, and in December 2021, he co-founded OpenEden.
Eugene Ng: Co-Founder OpenEden
- He graduated with a bachelor’s degree in business administration from Singapore Management University. He received a Master of Science degree from NYU Stern School of Business.
- In June 2014, he worked as Derevatives Agency Trading at Deutsche Bank. He used to work as APAC regional director for Matrixport. He previously worked as head of business development for the Asia-Pacific region for Gemini.
- Currently, he is working as an Advisor for DWF Labs and Co-Founder at OpenEden from 2022 to present.
Investor
OpenEden has been invested by Summer Capital with an undisclosed amount of capital.
Development Roadmap
Update…
Tokenomics
Update…
Exchanges
Update…
Project Information Channel
- Twitter: https://twitter.com/OpenEden_Labs
- Website: https://openeden.com/
- Telegram:
Summary
Through this analysis, I hope everyone has gained more information about what OpenEden is. I will update everyone with the latest information surrounding the project and many other pieces of the Real World Assets puzzle.
