Franklin OnChain U.S. Government Money Fund (BENJI) quarantined stablecoin record
Live tracking temporarily paused
2026-10-30 review: CoinGecko supply and market cap remain zero and DefiLlama has no stablecoin row. Multi-chain supply now reconciles ($756.54m across eight chains, Aptos 0), but Stellar ($527.82m) still has no runtime supply reader.
Effective 2026-10-30; review due 2026-11-29; BENJI Stellar supply observed 2026-09-30
Answer first
What is Franklin OnChain U.S. Government Money Fund (BENJI)?
BENJI is the on-chain share token for Franklin Templeton's FOBXX, an SEC-registered U.S. government money market fund with a stable $1.00 NAV. The static profile records its US Dollar peg mechanism as: Single fund, multi-chain BENJI token tracking FOBXX's stable $1.00 NAV; rebasing share count records distributed yield directly on-chain; subscriptions and redemptions are gated to KYC-verified Benji wallets with USD-wire and Benji-to-USDC settlement paths.
Is BENJI safe?
Franklin OnChain U.S. Government Money Fund is not in Pharos's active universe. 2026-10-30 review: CoinGecko supply and market cap remain zero and DefiLlama has no stablecoin row. Multi-chain supply now reconciles ($756.54m across eight chains, Aptos 0), but Stellar ($527.82m) still has no runtime supply reader.
Profile
BENJI profile facts
Franklin OnChain U.S. Government Money Fund (BENJI) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar.
AI summary / Updated Oct 19, 2026
BENJI is the on-chain share token for Franklin Templeton's FOBXX, an SEC-registered U.S. government money market fund with a stable $1.00 NAV, custodied at JPMorgan Chase with Franklin Templeton as transfer agent and the token as the share record. Yield is distributed by rebasing the holder's share count on-chain rather than letting the price drift, so BENJI behaves like a par dollar even though it is legally a fund share.
AI summary · drafted by claude-opus-5-5 · facts as of Oct 19, 2026
- Collateral
- U.S. government securities, cash, and repurchase agreements held by the Franklin OnChain U.S. Government Money Fund (FOBXX); '40 Act-registered money market fund custodied by JPMorgan Chase Bank with Franklin Templeton as transfer agent and Benji as the on-chain share record
- Peg mechanism
- Single fund, multi-chain BENJI token tracking FOBXX's stable $1.00 NAV; rebasing share count records distributed yield directly on-chain; subscriptions and redemptions are gated to KYC-verified Benji wallets with USD-wire and Benji-to-USDC settlement paths
- Jurisdiction
- United States / SEC / Investment Company Act of 1940 (registered money market fund)
- Proof of reserves
- Self-Reported PoR by Franklin Templeton (daily fund holdings and NAV factsheet) Reserve source
Next actions
This record preserves static and historical context; live actions are available only for active assets.
Source: Pharos registry profile fields. This inactive record does not participate in current live monitoring; the summary above was last updated Oct 19, 2026.
BENJI quick answers
What is Franklin OnChain U.S. Government Money Fund (BENJI)?
BENJI is the on-chain share token for Franklin Templeton's FOBXX, an SEC-registered U.S. government money market fund with a stable $1.00 NAV. The static profile records its US Dollar peg mechanism as: Single fund, multi-chain BENJI token tracking FOBXX's stable $1.00 NAV; rebasing share count records distributed yield directly on-chain; subscriptions and redemptions are gated to KYC-verified Benji wallets with USD-wire and Benji-to-USDC settlement paths.
Is BENJI safe?
Franklin OnChain U.S. Government Money Fund is not in Pharos's active universe. 2026-10-30 review: CoinGecko supply and market cap remain zero and DefiLlama has no stablecoin row. Multi-chain supply now reconciles ($756.54m across eight chains, Aptos 0), but Stellar ($527.82m) still has no runtime supply reader.
What backs BENJI?
Pharos records BENJI's reserves in its review of Jul 14, 2026 as 100% U.S. government securities, fully collateralized repos, and cash. Reserve evidence: Self-Reported PoR by Franklin Templeton (daily fund holdings and NAV factsheet). Pharos classifies the backing as Real-World Asset Backed.
Can BENJI be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. BENJI is outside active monitoring; this static record preserves the reviewed control context.