OpenEden TBILL vs Superstate USTB: Risk & Value Comparison
OpenEden TBILL
Superstate USTB
Sector
RWA
RWA
Risk Score
28/100
27/100
Risk Grade
B-
B
Value Score
23/100
18/100
Value Grade
D
D-
TVL
$169M
$723M
FDV
—
$895M
Mechanisms
5
6
Interactions
4
4
Quadrant
Dead Money
Dead Money
Risk Dimension Comparison
Mechanism Novelty/ 15
OpenEden TBILL
0
Superstate USTB
3
Interaction Severity/ 20
OpenEden TBILL
3
Superstate USTB
4
Oracle Surface/ 10
OpenEden TBILL
2
Superstate USTB
3
Documentation Quality/ 10
OpenEden TBILL
2
Superstate USTB
1
Track Record/ 15
OpenEden TBILL
5
Superstate USTB
2
Scale Exposure/ 10
OpenEden TBILL
5
Superstate USTB
3
Regulatory Risk/ 10
OpenEden TBILL
8
Superstate USTB
6
Protocol Vitality/ 10
OpenEden TBILL
3
Superstate USTB
5
Value Dimension Comparison
Fee Capture/ 25
OpenEden TBILL
3
Superstate USTB
3
Token Distribution/ 25
OpenEden TBILL
5
Superstate USTB
3
Emission Sustainability/ 25
OpenEden TBILL
8
Superstate USTB
5
Competitive Moat/ 25
OpenEden TBILL
7
Superstate USTB
7
Verdict
Superstate USTB is the safer protocol with a risk score of 27/100 (B) compared to 28/100 (B-).
OpenEden TBILL has stronger value accrual (D, 23/100) compared to D- (18/100).