💵Franklin Templeton Benji MMF Vault

Flexible term, variable rate on-chain loans fully secured by Franklin Templeton's tokenised money market fund - BENJI.

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.

Vault	Details
Vault Name	Franklin Templton Benji MMF Vault
Token Symbol	XFTB
Protocol Version	5.0
Eligible Collateral	Franklin Templeton BENJI Money Market Fund
Stablecoins Accepted	USDC
Networks Supported	Avalanche
Investments	Anytime, vault tokens minted immediately
Withdrawals	Anytime, repaid T+2
Minimum Investment	100 USDC
Term / Lockup	None
Fees	50 bps per annum, deducted from the gross yield generated on the underlying collateral
Interest Accrual	Lenders earn a variable interest rate (“Loan Fee Rate”) which is benchmarked to the 4-Week Bank Discount Daily Treasury Rate less Fees. Principal and interest compounds daily.
Exchange Rate Method	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.
Legal Structure	Leverages the same institutional grade legal framework, bankruptcy remote structure, and regulated service providers and counter-parties as our other OpenTrade Treasury Management & Yield Product.