Franklin OnChain U.S. Government Money Fund
Tokenized share of a U.S. government money market fund.
Deployments
BENJI:GBHNGLLIE3KWGKCHIKMHJ5HVZHYIK7WTBE4QF5PLAKL4CJGSEU7HZIW5
0x3DDc84940Ab509C11B20B76B466933f40b750dc9
0x60CfC2b186a4CF647486e42c42B11cC6D571d1E4
0x408A634B8a8f0dE729B48574a3a7Ec3fE820B00A
0xB9e4765BCE2609bC1949592059B17Ea72fEe6C6A
0xE08b4c1005603427420e64252a8b120cacE4D122
5Tu84fKBpe9vfXeotjvfvWdWbAjy3hqsExvuHgFqFxA1
Total trust score dropped 8pts (69 → 61, band: limited)
Total trust score dropped 25pts (86 → 61, band: limited)
Total trust score dropped 25pts (86 → 61, band: limited)
Total trust score dropped 25pts (86 → 61, band: limited)
Total trust score dropped 25pts (86 → 61, band: limited)
BENJI across four dimensions
Signal readings
- Disclosure tier
- regulated daily
- Attestation age
- 37 d
- Attestations / 180d
- 5
- DEX liquidity
- $0.00
- Outstanding supply
- $31.96M
- Liquidity / supply
- 0.000%
- Top-10 holder pct
- 93.7%
BENJI supply over time
BENJI · Franklin Templeton
Outstanding supply (USD)
BENJI outstanding supply is $515.79M as of Jul 7, 2026. -12.9% over the prior 30 days.
BENJI trust rating since coverage began
BENJI · Verified Capital Trust Rating
Composite rating (0–100)
BENJI rating is 72 as of Jul 7, 2026. +6 points over the prior 30 days.
What closes the gap — and who closes it
- ·Yield is paid as new-token distribution, not price appreciation.
- ·There is no onchain rate to compare against the published one.
- ·Score component reflects this structural property, not a measurement failure.
What would close it
Yield in this instrument is paid by minting new tokens to holders each month rather than rising in price. A daily on-chain rate to measure against the issuer's published one therefore does not exist by design.
- ·BENJI is a SEC-regulated money market fund.
- ·Redemption happens through Franklin Templeton authorized channels, not DEX trading.
- ·The Liquidity rubric (DEX depth vs supply) does not apply cleanly to this instrument type.
What would close it
A liquidity rubric tailored to authorized-redemption funds — depth of authorized off-chain redemption channels rather than DEX depth.
- ·Franklin publishes monthly N-MFP3 filings to SEC EDGAR (CIK 0001786958).
- ·Cadence is monthly, not daily.
- ·No machine-readable per-token attestation feed exists at a stable URL.
What would close it
Issuer publishes a recurring BENJI reserve attestation at a public URL with at least monthly cadence.
DEFAULT_ADMIN_ROLE holder is a plain EOA — no Contract tab on Etherscan. proxiableUUID (item 21) confirmed UUPS upgrade pattern. Single EOA controls upgrades.
Score impact: governance sub-signal: 4/10 (single EOA). upgrade_pattern uups: 3/15. Total governance: 7/25.
- ·Franklin Templeton Trust files monthly N-MFP3 for FOBXX (S000067043).
- ·Extracts AUM, NAV, 7-day yield, WAM/WAL, stable price per share.
- ·6 filings ingested in 6-month smoke test — 100% match rate to S000067043.
Score impact: attestationFreshness: LIVE. Monthly cadence.
- ·Concentration is measured on the Ethereum slice only.
- ·Stellar holder snapshot collector is not yet built, so Stellar concentration data is missing.
- ·Stellar BENJI scored 39 vs Ethereum 41 — the 2-point delta is this engineering gap.
What would close it
Holder-level data on the Stellar venue (where most BENJI lives) becomes part of our daily measurement.
- ·Sole mint recipient for BENJI token.
- ·0 outgoing transactions.
- ·All BENJI supply is held in this address — Franklin Templeton custody/distribution contract, not a retail holder.
Score impact: Excluded from top-10 concentration calc. Post-exclusion: no remaining holders → concentration NULL → nullFallback 10/25.
Resolved anomalies
Jun 9, 2026
→ Jun 9, 2026
Total trust score dropped 25pts (86 → 61, band: limited)
Jun 9, 2026
→ Jun 9, 2026
Total trust score dropped 25pts (86 → 61, band: limited)
Jun 9, 2026
→ Jun 9, 2026
Total trust score dropped 25pts (86 → 61, band: limited)
Jun 9, 2026
→ Jun 9, 2026
Total trust score dropped 25pts (86 → 61, band: limited)
Jun 9, 2026
→ Jun 9, 2026
Total trust score dropped 8pts (69 → 61, band: limited)
Jun 9, 2026
→ Jun 9, 2026
Total trust score dropped 8pts (69 → 61, band: limited)
Jun 6, 2026
→ Jun 8, 2026
Total trust score dropped 7pts (59 → 52, band: rated)
BENJI is scored across the same four dimensions as every other rated instrument — Disclosure Quality, Redemption Liquidity, Structural Trust, and Holder Concentration. Each dimension contributes up to 25 points. The dimension breakdown above shows where the score comes from; the diligence trail shows every verified fact behind it.
Read the full methodology →