Off-chain Governance & Controls

Governance

Over the long term, OpenEden’s goal is to enable decentralised governance for the TBILL Vault, in the true spirit of DeFi. But in the current market sentiment, institutional investors are looking for additional assurance that their capital is in safe hands. OpenEden has elected to abide by the highest standards of compliance, licensing, and regulation. For example, the TBILL token Token Issuer collaborates with institutional-grade, regulated service providers. The Token Issuer is also a registered professional fund regulated in the British Virgin Islands and the Fund’s underlying portfolio managed by a regulated fund management company in a Tier-1 jurisdiction.

Refer to Legal & Compliance for more information.

Third-party Fund Administrator

The Token Issuer has appointed an independent third-party fund administrator as one of the multisig for all fund flows and to publish a monthly report on the net assets held by the Token Issuer.

Movement of Funds

The movement of funds between venues are protected by custodian user privileges to ensure that only users with the correct credentials and authorizations are permitted to initiate and approve fund movements. Members of the admin and operations team will receive real-time alerts whenever there is a movement of funds.

Funds transfer instruction details are maintained in fixed transfer templates to be used in future transfers instead of manual entry of information to ensure no error inputs.

Segregation of Roles

Segregation of roles is essential for maintaining the integrity and security of OpenEden's operations. This practice involves the systematic division of responsibilities and permissions among individuals or teams to prevent any single entity from having unchecked authority over critical processes or sensitive data.

By implementing segregation of roles, OpenEden can reduce the risk of fraud, errors, and unauthorised access. It fosters transparency, accountability, and a robust internal control framework, ensuring that checks and balances are in place to protect OpenEden's assets and uphold regulatory compliance.