With markets undecided while the RWA sector looks filled with potential, OpenEden, which is offering points rewards for holding and making use of its RWA-backed stablecoins USDO and cUSDO, offers some timely opportunities. Rewards can be picked up for using OpenEden’s stablecoins on various protocols, including Spectra, Aerodrome, and Morpho, with strategies that can be executed at varying degrees of complexity.
In choppy markets you might just want to be sitting in stablecoins, and in that case it makes sense to be picking up some rewards along the way, so in this guide let’s take a look at an RWA-centered protocol called OpenEden, from where you can profit from holding and using stables.
The RWA Sector Expands
A key point about OpenEden is that it’s closely connected with RWAs at a time when interest is swinging back towards real utility, TradFi is moving towards the tokenization of assets, and as the RWA sector continues to expand. In fact, despite less-than-ideal conditions in crypto and traditional markets, the RWA sector has seen its value keep increasing, so it’s now close to $20 billion overall, with total stablecoin value at over $227 billion.
We’ve also seen strong political interest in stablecoins lately–indicating that these are an area of crypto that can integrate with traditional markets–so if you were looking for relatively safe crypto sectors, then RWAs and stables would be the way to go.
And as for OpenEden, it launched in 2023 and its goal is “to bring real-world assets to DeFi to unlock trillions of dollars in value”.
The OpenEden TBILL Vault
Impressively, OpenEden has rapidly become the top issuer of tokenized US Treasuries across Asia and Europe, with access available through its TBILL Vault. Right now, the TBILL token can be minted by depositing USDC, and offers a seven-day yield of 3.99%, although this is a permissioned product with an onboarding process only for Accredited Investors or Professional Investors, but don’t worry, OpenEden’s other opportunities are more easily accessible.
OpenEden USDO and cUSDO Stablecoins
OpenEden issues a rebasing, yield-bearing, dollar-pegged stablecoin called the OpenEden OpenDollar (USDO), which operates on Ethereum and Base. Rebasing means the supply is algorithmically adjusted to maintain a constant price (in this case it’s rebased daily), and there is currently USDO in circulation to the value of $50.92 million.
USDO is backed by OpenEden’s TBILL tokens, meaning that effectively, it’s backed by US Treasury Bills, which is from where the yield is generated.
Additionally, there is a wrapped version of the token called Compounding USDO (cUSDO), which compounds value. In this case, the token is not rebasing and has a constant supply, meaning that its price is not fixed and can increase over time. A key difference between the two tokens then, is that USDO distributes yield daily, while cUSDO accumulates yield itself by gaining in value.
Additionally, cUSDO is composable and designed to enable interaction with protocols that are not compatible with rebasing tokens.
The Bill Points Campaign
OpenEden is currently running the Bill Points Campaign, allowing users to earn reward points called Bills in return for holding USDO, or for interacting on selected protocols in the OpenEden ecosystem using…
