BENJI Franklin Templeton Digital Assets Lecture Review

This set of vocabulary flashcards covers key terms, financial metrics, and operational features of the BENJI token and the Franklin OnChain U.S. Government Money Fund based on the lecture materials.

Bug bounties

Programs that reward ethical hackers for finding and reporting vulnerabilities in the blockchain's code or smart contracts to enhance security.

Public Blockchain

A decentralized, open-source peer-to-peer network featuring a global validator network and distributed operational costs shared across a broad participant base.

Private Blockchain

A network requiring centralized operators, featuring limited security due to fewer participants and concentrated operational costs.

BENJI Token

A yield-bearing digital asset where one token is equivalent to one share of the Franklin OnChain U.S. Government Money Fund.

Net Asset Value (NAV)

The per-share value of the fund, which BENJI aims to maintain at a stable level of $1.00$.

FOBXX

The ticker symbol for the Franklin OnChain U.S. Government Money Fund, which invests at least $99.5\%$ of its assets in short-term US government securities, cash, and repurchase agreements.

Franklin Distributors, LLC

A SEC-registered broker-dealer that serves as the distributor of the fund.

Franklin Advisers, Inc.

The entity that manages the Franklin OnChain U.S. Government Money Fund and is registered under the Investment Company Act of 1940.

Natively On-Chain

A system where share ownership and recordkeeping are managed directly on the blockchain to ensure data is verifiably stored and executed.

USDC Conversions

A feature enabled in June 2024 allowing investors to fund investments using stablecoins without requiring a traditional bank account or USD.

Daily Yield Distribution

The process of daily yield accrual and distribution in the form of new BENJI tokens airdropped directly to a digital wallet.

Peer-to-Peer (P2P) Transfers

A feature launched in April 2024 for institutional investors allowing shareholders to transfer shares directly to one another on public blockchains.

Zero Hash LLC

The entity through which cryptocurrency transaction and custody services are powered for the BENJI platform.

Self-Custody

The ability for institutional investors to manage their own private keys and buy/sell the BENJI token directly by interacting with smart contracts.

Intraday Yield

A feature allowing precise income accrual and distribution up to the exact second a transfer is sent or received during a NAV cycle.

Corporate Treasury Solution

A BENJI use case where corporate reserves are parked in the token to earn yield while maintaining instant access to liquidity.

Settlement Asset

A BENJI use case providing a stable $1.00$ NAV and generating yield for trading platforms.

7-Day Effective Yield

A measure of fund earnings that takes into account the power of compounding on investment returns; reported as $3.58\%$ with waiver as of 03/31/26.

Gross Expense Ratio

The total annual operating expenses for a share class prior to the deduction of any waiver or reimbursement, listed as $0.22\%$ for FOBXX.

Net Expense Ratio

The expense ratio applicable to investors after the deduction of any waiver or reimbursement, capped at $0.20\%$ for FOBXX until July 31, 2026.

Node Operations

An infrastructure pillar of Franklin Templeton Digital Assets that facilitates staking and governance across Proof of Stake (PoS) networks.

White-listing

The requirement by the Fund’s transfer agent for third-party wallets to be approved before they can be used for self-custody.