OpenEden OpenDollarPrice

(USDO)

OpenEden OpenDollar, often referred to by its ticker USDO, is a decentralized finance project that provides a yield-bearing stablecoin. It is issued by OpenEden Digital, an entity licensed by the Bermuda Monetary Authority. The primary goal of the project is to bridge traditional financial assets with the Web3 ecosystem by offering a digital asset that maintains a stable value while allowing holders to earn a return on their holdings. The stability of USDO is maintained through a peg to the United States dollar. Unlike many traditional stablecoins that are backed by cash in bank accounts, USDO is fully collateralized by tokenized real-world assets. Specifically, these reserves consist of short-term U.S. Treasury bills and reverse repurchase agreements. This structure allows the project to provide transparency through real-time, on-chain proof of reserves, as the backing assets are held in a vault managed by smart contracts. A defining feature of USDO is its daily rebasing mechanism. This means that instead of the token value fluctuating like a typical cryptocurrency, the number of tokens in a user wallet automatically increases daily. This increase represents the yield generated from the underlying treasury bill reserves. For users who interact with platforms or protocols that do not support rebasing tokens, the project offers a wrapped version known as cUSDO. This version does not change in quantity but instead accrues value internally, meaning the relationship between it and the standard USDO token shifts over time to reflect the earned interest. In the Web3 and decentralized finance space, USDO serves several purposes. It acts as a stable medium of exchange, a store of value, and a tool for lending and borrowing within various protocols. By integrating high-quality, government-backed assets into a digital format, the project aims to offer a secure alternative for institutional and individual users seeking low-risk exposure to traditional yields while remaining within a blockchain environment. The project also emphasizes regulatory compliance and the segregation of assets to ensure that reserve funds are protected and separate from the issuer general business operations. Learn more

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