---
title: "OpenDollar USDO (USDO) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdo-openeden/"
description: "Build-time stablecoin profile for OpenDollar USDO (USDO). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# OpenDollar USDO (USDO)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

OpenEden's USDO is a rebasing {{term:treasury}}T-bill{{/term}}-backed stablecoin distributing yield daily, with Bermuda DABA licensing and Chainlink PoR — elegant for retail but awkward for DeFi. OpenEden's USDO is a rebasing stablecoin fixed at $1 that distributes T-bill yield daily by increasing holder balances — backed 70% by OpenEden's own TBILL tokens, 15% by BlackRock BUIDL, 5% by Franklin Templeton BENJI, and 10% in USDC as a cash buffer. The Bermuda BMA DABA license and Chainlink Proof of Reserves provide regulatory and transparency layers that most rebasing stablecoins lack, with on-chain {{term:attestation}}attestations{{/term}} of the underlying {{term:rwa}}RWA{{/term}} basket, though the peg score of 81 and 44 depeg events — including one that spiked nearly 17,000 basis points above peg — reveal the mechanical challenge of maintaining a $1 price on a token whose supply changes daily. The backstop scores a modest 52 with capacity issues, reflecting the illiquidity gap between holding tokenized treasuries and providing instant dollar {{term:redemption}}redemptions{{/term}}. Deployed across four chains, USDO is elegant for retail but awkward for DeFi protocols that don't handle rebasing tokens — hence the cUSDO wrapper for composability.

## Collateral

U.S. Treasury bills via tokenized TBILL and BUIDL tokens held in a bankruptcy-remote segregated account; 100% collateralization ratio maintained

## Peg Mechanism

Rebasing stablecoin fixed at $1; supply rebases daily to distribute yield; mint/redemption at 1:1 with USDC via OpenEden platform

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Bermuda | BMA | DABA License |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x8238884ec9668ef77b90c6dff4d1a9f4f4823bfe` | 18 |
| base | `0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0` | 18 |
| bsc | `0x302e52aff9815b9d1682473dbfb9c74f9b750aa8` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usdo-openeden.