Regarding OpenEden's stablecoin, many people are unaware of its architecture. Here is an analysis. Firstly, OpenEden's stablecoin is called USDO, and the wrapped version is called cUSDO. The reason for having a wrapped version is that USDO is anchored at $1, but it comes with a native interest rate of 3.9%, which is issued daily in the form of rebase (meaning the balance automatically increases). After the warp, cUSDO is a standard ERC-20 token that no longer automatically increases its balance, but achieves the same effect by automatically raising its price every day. In addition, in terms of architecture, the collateral of USDO is different from that of USDT and USDC, and the collateral of USDO is still tokens. At present, the TVL of USDO has risen to 280M. Its collateral is 91% from TBILL, and the remaining 9% from BUIDL. Both are treasury bond RWA tokens. TBILL is also released by OpenEden, which has a complete compliance, audit, and disclosure architecture. BUIDL is more familiar to everyone. It is a token fund issued by BlackRock. The underlying asset of this fund is also US treasury bond bonds. So based on this architecture, one of the advantages of USDO is that compared to other stablecoins, people don't have to worry about hackers. After all, in the worst case, hackers can only use smart contracts, but can't take away the treasury bond at the bottom. These treasury bond are entrusted to traditional institutions, which is enough to deal with emergencies. In addition, the four tier architecture also makes it possible for other companies to use TBILL. Just like USDO will use BUIDL, these treasury bond RWA tokens will also get more composability. Other introductions about OpenEden can refer to this interview with CoinDesk ↓