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
0x7b5e9cac3433e9202f28527f707c89e1e47b19de2c33e4db9521a63ad219b739
BENJI across four dimensions
Holder Concentration is not published for this instrument — its holder base is too large or too widely distributed to measure to ground truth. The composite reflects the three measured dimensions, renormalized.
Signal readings
- Disclosure tier
- regulated daily
- Attestation age
- 26 d
- Attestations / 180d
- 6
- Outstanding supply
- $19.66M
- Liquidity / supply
- 0.000%
- Top-10 holder pct
- Withheld
- Custody verification
- full independent surface
Custody & backing fields are descriptive — published, not scored
BENJI supply over time
BENJI · Franklin Templeton
Outstanding supply (USD)
BENJI outstanding supply is $460.29M as of Aug 26, 2026. -5.2% over the prior 30 days.
BENJI trust rating since coverage began
Score history not yet available.
The chart will appear once 3 more daily readings have been collected (11 of 14 so far).
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.
- ·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.
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.
Concentration is measured on BENJI's primary venue, Stellar, where most BENJI supply lives — top-10 holders ≈ 92% of the Stellar float, refreshed daily. The Ethereum, Base, Polygon, Arbitrum, and Avalanche bridge deployments are not independently scored for holder concentration; only the primary venue is (a deliberate methodology choice, so the composite reflects a single, representative holder set rather than blending unequal per-chain samples).
- ·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.
BENJI is scored across the same four dimensions as every other rated instrument in its class — 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 →