By reading the article, you can gain insights.
A deeper understanding of the OpenEden project and its product operations.
Additional opportunities for early airdrops (not referring to the OpenEden booster activity, no need to stake for 90 days to receive Eden airdrops).
As soon as the OpenEden booster activity launched, I completed it quickly, and the tutorial was first released in the square. Many brothers commented: "250U staked for 3 months, the investment for an activity is too high," "What is OpenEden, I know nothing and just invest?", "I’ve never heard of USDO stablecoin, if it goes to zero later, it would be funny," "How about the yield? 170 still relies on luck to win the lottery, and later it goes live at 0.1 each, and 🐶 won't play anymore"...
Knowing nothing, wasting a few hundred U, reckless? So I quickly conducted an in-depth investigation of OpenEden to boost my confidence and now summarize it into an article to share with everyone (there are no related articles or airdrop tutorials in the Chinese community, so this is a premiere in the Chinese zone, fans enjoy the benefits first, feel free to follow along 😎)
All content is divided into 3 articles (the content is a bit much, split into articles):
Analysis of OpenEden project and product operation methods, security.
Introduction to Eden Token (including total amount and token distribution) (next article)
How to participate in its early airdrop to get more Eden tokens (the article is finished, will launch tomorrow when there are updates on points materials)
1. OpenEden operation method analysis
First, the Eden tokens rewarded from the activity have not yet been issued; the official announcement was made on August 14 that they would be launched, and there is currently no white paper (the EDEN found on CoinMarketCap is not issued by OpenEden, so don’t think about buying it in advance).
Although the event was just launched a few days ago, OpenEden has been established since 2022 and now has two tokenized products that meet institutional standards, with $300 million in stablecoin TVL and $300 million in Treasury bond token TVL.
1.1 First, what is OpenEden?
"OpenEden" is a collective term for multiple entities, including a professional fund regulated by the British Virgin Islands and a digital asset company licensed in Bermuda, which has been approved and registered as an independent account company.
Since 2022, OpenEden has been committed to a simple yet ambitious goal: to become the leading platform for the tokenization of real-world assets (RWA). Our mission has always been clear: to connect traditional finance and DeFi by unlocking RWA on-chain in a compliant, transparent, secure, and convenient manner.
In the past two years, we have moved from vision to execution, providing tokenized products that meet institutional standards while maintaining deep composability in DeFi.
Now, OpenEden has over $277 million in USDO TVL and over $286 million in TBILL TVL, with integrations with top DeFi protocols and accelerating institutional appeal, entering the next phase. We are excited to share future developments with everyone.
1.2 Secondly, what does OpenEden do?
What does OpenEden do? In one sentence: A platform for the tokenization of real-world assets (real-world asset (RWA) tokenization platform)
Currently, OpenEden has launched two products, one is the tokenized U.S. Treasury bond TBill, and the other is an interest-bearing stablecoin (similar to USDT), allowing cryptocurrency investors to obtain low-risk returns from U.S. Treasury bonds without leaving the DeFi ecosystem.
Product 1: $TBill (OpenEden T-Bills Vault, OpenEden Treasury Bond Vault)
$TBill (OpenEden T-Bills Vault, OpenEden Treasury Bond Vault), TBILL is backed by physical assets and issued according to a regulatory-compliant fund structure, becoming the first tokenized U.S. Treasury product to receive a Moody's 'A' rating. It mainly allows investors to invest in U.S. bonds in a tokenized form to obtain low-risk returns (4.x% annualized return)
Summary: The money invested is used to buy U.S. short-term Treasury bonds, and the bond yield is returned to investors.
Security: The net asset value report of the TBILL fund is published at the end of each business day, and customized client reports are generated monthly by an independent fund manager. All TBILL transactions are executed on-chain to ensure complete transparency and verifiability. The latest fund audit report can be found at https://wp.hacken.io/wp-content/uploads/2023/10/Openeden_SC-Audit-10102023SA-1928_final.pdf
Product 2: $USDO (OpenDollar Stablecoin)
$USDO (OpenDollar), currently has $289.97 million TVL with a 3.90% annual interest rate. All USDO tokens are pegged to the U.S. dollar at a 1:1 ratio and are 100% backed by tokenized Treasury bonds.
Security: OpenEden integrates Chainlink's Proof of Reserve to provide independent on-chain verification to confirm that USDO is backed by tokenized U.S. Treasury bonds. Chainlink's decentralized oracle infrastructure further ensures accurate reporting of USDO reserves, which can be verified in real-time by any user.
You can check its real-time reserves on ChainLink through this link: https://data.chain.link/feeds/base/base/usdo-por
So what is cUSDO in this activity? $cUSDO is the wrapped token of $USDO. Below are comparison charts of the three products:
Currently not launched on the platform, but the Binance wallet can already be used for exchanges, after all, Binance is an investor.
1.3 Who are the investors in OpenEden, and what are the investment amounts?
According to information provided by @cryptorank.io, YZiLabs is clearly an investor, but the specific amount has not been disclosed, with a $5 million investment in early 2023.
In addition to investors, the official website shows the following ecological partners (it's unclear if partners have invested): BlackRock, YZi Labs (Binance Labs), Moody's (rating agency), Ripple, Galaxy, Arbitrum, BNY (fund management).
Originally did not support BNB chain, recently collaborated with Binance Chain to support $BNB chain
Having said so much, it's all about the project introduction. Let's continue to talk about this airdrop of $Eden, including the total quantity of Eden, circulation, and how to become an early participant to get an airdrop. The content is a bit long, so it has been split into 3 articles. Please follow @长盈 to grab the airdrop big prize together 😂
