Franklin OnChain US Government Money Fund

BENJI 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.

Calculations are indicative. Actual yields may vary.

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.

Liquidity read: TVL of $800.00M indicates healthy on-chain liquidity. Lock-up: None ($1 NAV money market fund, daily liquidity).