# Franklin Templeton Benji MMF Vault

## Summary 

The Franklin Templeton Benji MMF Vault aims to provide lenders with the risk free rate of return for USD. It's collateral portfolio consists exclusively of Franklin Templeton's tokenised money market fund - BENJI.   

Interest accrues and compounds daily and lenders can move in and out at anytime. Withdrawals made before the cut off time are repaid same day, typically within 6 hours. 

<table><thead><tr><th width="255">Vault</th><th width="475">Details</th></tr></thead><tbody><tr><td><strong>Vault Name</strong></td><td>Franklin Templton Benji MMF Vault</td></tr><tr><td><strong>Token Symbol</strong></td><td>XFTB</td></tr><tr><td><strong>Protocol Version</strong></td><td>5.0</td></tr><tr><td><strong>Eligible Collateral</strong></td><td>Franklin Templeton BENJI Money Market Fund</td></tr><tr><td><strong>Stablecoins Accepted</strong></td><td>USDC</td></tr><tr><td><strong>Networks Supported</strong></td><td>Avalanche</td></tr><tr><td><strong>Investments</strong></td><td>Anytime, <a href="../../product-overview/vault-tokens">vault tokens</a> minted immediately </td></tr><tr><td><strong>Withdrawals</strong> </td><td>Anytime, repaid T+2</td></tr><tr><td><strong>Minimum Investment</strong></td><td>100 USDC</td></tr><tr><td><strong>Term / Lockup</strong></td><td>None</td></tr><tr><td><strong>Fees</strong></td><td>50 bps per annum, deducted from the gross yield generated on the underlying collateral</td></tr><tr><td><strong>Interest Accrual</strong></td><td>Lenders earn a <a href="flexible-term-usdc-vault/interest-rate-and-fees">variable interest rate</a> (“Loan Fee Rate”) which is benchmarked to the <a href="https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates&#x26;field_tdr_date_value_month=202501">4-Week Bank Discount Daily Treasury Rate</a> less Fees. Principal and interest compounds daily. </td></tr><tr><td><strong>Exchange Rate Method</strong></td><td>Reference price set by Investment Advisor each day at 23:59 GMT. Exchange rate between XFTB/USDC increases each day to reflect daily interest accrual. </td></tr><tr><td>Legal Structure</td><td>Leverages the same institutional grade <a href="../../product-overview/legal">legal framework</a>, <a href="../../product-overview/legal/bankruptcy-remote-structure">bankruptcy remote structure</a>, and <a href="../../product-overview/key-parties">regulated service providers and counter-parties</a> as our other OpenTrade Treasury Management &#x26; Yield Product. </td></tr></tbody></table>


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.opentrade.io/stablecoin-yield/stablecoin-yield-vaults/money-market-fund-vaults/franklin-templeton-benji-mmf-vault.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.