Franklin OnChain US Government Money Fund
BENJIBENJI is the on-chain share token of the Franklin OnChain US Government Money Fund (FOBXX), a US-registered 1940 Act money market fund from Franklin Templeton. It holds at least 99.5% in US government securities, repo and cash, maintains a one-dollar share price, and uses public blockchains as its official record across eight networks. BENJI scores 90/100 (Tier 2) on the RWTS Trust Score, the highest of our tokenized treasuries, because it is a fully SEC-regulated mutual fund with daily liquidity rather than a private placement. It is the institutional gold standard for tokenized cash.
- Issuer / protocol
- Franklin Templeton
- Jurisdiction
- United StatesSEC — Investment Company Act of 1940
- Backing
- US government securities, cash & repurchase agreements
- Redemption / lock-up
- None ($1 NAV money market fund, daily liquidity)
- Audit & proof of reserves
- Independently audited
- Availability
- Global
- Chain
- Multi-chain
- Tier
- Tier 2 — Treasury & Fiat-Backed
Scored on the published RWTS methodology (v1.1), reviewed quarterly and on material events. Ratings are independent and never pay-influenced.
≥99.5% govt securities, repo & cash Point-in-time disclosure, not a live feed; weights move with issuance and policy.
Addresses verified against each chain's explorer. Native = canonical or natively issued; bridged = wrapped or messaged across.
Calculations are indicative. Actual yields may vary.
Price data from CoinGecko. Not financial advice.
Current yield of 3.80% sits at 43% of the observed range. There may be room for rates to improve.
Projections assume constant APY of 3.80%. Actual returns may vary. Not financial advice.
Beyond BENJI's own score, two structural questions matter: what is it built on, and what has broken before in this part of the market. A high score in isolation can still carry hidden, shared exposure.
What this and similar assets are built on, and where contagion could spread.
The depegs, defaults, and exploits that inform the Track Record dimension.
Liquidity read: TVL of $800.00M indicates healthy on-chain liquidity. Lock-up: None ($1 NAV money market fund, daily liquidity).
Is BENJI safe?
BENJI (Franklin OnChain US Government Money Fund) scores 90/100 on the independent RWTS Trust Score, which places it in Treasury & Fiat-Backed (Tier 2). Tier 2 is strong: institutional or fiat backing with solid verification, a notch below fully-reserved physical assets. Backing: US government securities, cash & repurchase agreements. It is independently audited. The score reflects backing, verification, redeemability, audit, regulatory standing, and track record, not headline yield. We rate. You decide.
Compare BENJI
Head to head on the Trust Score with similar assets.