CUSDO, issued by OpenEden Digital, is a yield-bearing tokenized-fund interest that gives holders economic exposure to a portfolio of short-dated U.S. Treasury Bills and a small portion of U.S. dollars held through OpenEden's regulated reserves.

Holders receive returns sourced from short-dated U.S. Treasury Bills with a weighted-average maturity of less than three months and overnight reverse repurchase agreements [S1][S2]. Yield accrues into each tokenholder's balance, which compounds daily to reflect the underlying instruments converging to par [S3][S4]. OpenEden charges a management fee of 0.30% per annum, levied daily on assets, plus a transaction fee of 5 basis points applied to subscription and redemption transactions and paid in USD Coin (USDC) [S5][S6].

OpenEden operates its tokenized products through regulated entities, holding the underlying assets 1:1 against minted tokens at all times [S1][S7][S8]. A regulated custodian holds the underlying tokenized U.S. Treasuries in a fully-segregated, bankruptcy-remote account for the benefit of tokenholders, removing commingling with the issuer's balance sheet [S9][S7]. Access is permissioned: investors complete KYC and KYB screening and obtain onchain wallet whitelisting before subscribing [S10]. Holders redeem for USDC on a First-In-First-Out basis, typically on the next one U.S. business day, with tokens burned on redemption and a minimum redemption value of 1 USDC [S11].

The token follows the EIP-20 (ERC-20) standard and is issued onchain on supported public networks [S3][S12]. Investors subscribe by depositing USDC, with tokens minted at the exchange rate published by the price oracle contract; redemptions settle in USDC with near-instant onchain settlement [S6][S4]. A price oracle contract publishes the NAV-based token price [S4].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.openeden.com/tbill/introduction" },
    { id: "S2", url: "https://openeden.com/news/openeden-bny-tokenized-us-treasury-fund/" },
    { id: "S3", url: "https://docs.openeden.com/tbill/product-structuring.md" },
    { id: "S4", url: "https://docs.openeden.com/tbill/token-price.md" },
    { id: "S5", url: "https://docs.openeden.com/tbill/fees.md" },
    { id: "S6", url: "https://docs.openeden.com/tbill/subscriptions.md" },
    { id: "S7", url: "https://docs.openeden.com/tbill/faq" },
    { id: "S8", url: "https://docs.openeden.com/tbill/trust-and-transparency.md" },
    { id: "S9", url: "https://openeden.com/news/introducing-tokenized-us-treasuries-from-openeden/" },
    { id: "S10", url: "https://docs.openeden.com/tbill/investor-onboarding.md" },
    { id: "S11", url: "https://docs.openeden.com/tbill/redemptions.md" },
    { id: "S12", url: "https://docs.openeden.com/tbill/smart-contract-addresses.md" },
  ]}
/>


# Asset mints methodology

## 1. Overview

Asset mints is a metric that represents the total value of new assets minted onchain. Daily mint volumes are tracked across supported blockchains to quantify the issuance of tokenized assets. Gross mint events are identified from native token transfer logs and transaction-level supply changes. To ensure accuracy for assets with pre-minted supplies, corrections are applied by subtracting non-circulating allocations. The final metric is normalized by decimal precision and converted to USD using end-of-day price feeds.

## 2. Data sources

- **EVM chain events**: ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token `Mint` instructions
- **Non-EVM chain events and transactions**:
 - Algorand: Asset Configuration (`acfg`) transactions and token transfers
 - Cardano: UTXO-derived mint and burn events
 - Near: Token mint events
 - Polkadot Asset Hub: `Issued` events from `assets` pallets
 - Ripple: Transaction-level issuer net flows
 - Stacks: Token transfers with null senders
 - Sui: `TreasuryCap` object total supply changes
 - Stellar: SEP-41 `sep41_mint` events

- **Asset metadata**: Token addresses and decimal precision retrieved from token metadata
- **External data**: End-of-day price feeds sourced from market data providers

## 3. Step-by-step calculation

### Component A: Gross mint extraction

- **Purpose**: Extract raw mint events across all supported blockchains
- **Logic**: On EVM-compatible chains, ERC-20 `Transfer` events are parsed where the sender address is the zero address. On Solana, SPL token `Mint` instructions are extracted. On Algorand, withdrawals from asset configuration addresses are identified as gross mints. On Cardano, positive supply deltas are derived from transaction UTXO inputs and outputs. On Near, token mint events are extracted. On Polkadot Asset Hub, `Issued` events from `assets` pallets are parsed. On Ripple, transaction-level net flows are calculated, and positive net flows from issuer accounts are classified as mints. On Stacks, token transfers with a null sender address are extracted. On Sui, total supply changes are decoded from `TreasuryCap` objects. On Stellar, SEP-41 `sep41_mint` events are parsed.
- **Key fields**: `amount` (raw token quantity), `token_address` (asset contract or token identifier), `timestamp` (block timestamp)

### Component B: Premint correction

- **Purpose**: Adjust gross mints to exclude pre-minted tokens that do not enter active circulation
- **Logic**: For supported assets, a correction is applied to distinguish between gross mints and circulating supply changes. Mints that are sent directly to designated non-circulating premint addresses are classified as premints. Conversely, transfers from these premint addresses to circulating addresses are classified as premint issuances. Corrected mints are calculated by subtracting premints from gross mints and adding premint issuances.
- **Key fields**: `amount` (corrected token quantity), `token_address` (asset contract), `account_address` (premint address)

### Component C: Decimal normalization

- **Purpose**: Normalize raw token quantities into standard units
- **Logic**: Raw token amounts are normalized by decimal precision. Decimal precision is retrieved from token metadata for each specific asset.
- **Key fields**: `amount` (normalized token quantity), `decimals` (decimal precision)

### Component D: Final aggregation and USD conversion

- **Purpose**: Aggregate daily normalized mints and convert the values to USD
- **Logic**: Normalized daily mint amounts are aggregated by asset and blockchain. Daily USD values are calculated by multiplying the daily normalized mint amount by the end-of-day price feed for the respective asset. If no mint events occur on a given day, the daily value is filled with zero values.
- **Key fields**: `amount_usd` (daily minted value in USD), `price_usd` (end-of-day asset price)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Asset mints

Tokenized funds

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Real-world asset (RWA) issuers

OpenEden

Compounding OpenDollar (CUSDO) is a tokenized fund share issued by OpenEden through OpenEden Digital Limited and managed by OpenEden Digital Limited.

The fund is open-ended, invests in U.S. government debt, keeps its assets in accounts segregated within a bankruptcy-remote structure, and locks up subscriptions for 0 months.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can mint and redeem directly with OpenEden in USDC after completing KYC, and holders have a right to redeem at net asset value.

OpenEden Digital Limited is incorporated in Bermuda, is licensed under the Bermuda Digital Asset Business Act, and is supervised by the Bermuda Monetary Authority (BMA).

CUSDO has been issued on public blockchains since January 2025 and is native to Ethereum, Base, and BNB Chain.

Compounding OpenDollarCUSDO