Open Money (OpenMoneyDAO)

Open Money is a decentralized stablecoin protocol that issues omUSD, a stablecoin fully backed by tokenized short-term U.S. Treasury bills (OUSG from Ondo Finance). Unlike most RWA-backed stablecoins, it operates under a DAO (OpenMoneyDAO) with no centralized control, offering a rule-based, cryptographically insured 1:1 peg between reserves and circulating tokens via smart contracts that require no human intervention for minting or burning.

Where the yield comes from

Open Money's yield starts with the asset that backs the omUSD stablecoin: tokenized short-term U.S. Treasury bills (called OUSG, built by Ondo Finance). When someone deposits USDC (a common stablecoin) into the FinanceHub smart contract to mint omUSD, that pooled USDC gets sent to the OUSG protocol, which invests it in short-term government bonds. As those bonds earn interest, the value of OUSG rises compared to USDC.

How yield accumulates (but is not paid out automatically)

The increase in OUSG value builds up inside the DAOFinanceHubOUSG contract — at the protocol level, not in individual wallets. A security audit by Halborn confirms that when OUSG gains value, the surplus collects at the contract level. There is no automatic system that sends this yield to omUSD holders. Instead, the DAO — meaning holders of OMGT governance tokens — controls a setting called "OUSG yield distribution" that can be turned on or off. The DAO decides whether and how to share the surplus.

Fees and how they work

The DAO also sets any fees for minting (creating) and redeeming (cashing out) omUSD. At the moment, these fees are 0%. They were planned to be 0.15% in 2025 (per Ondo Finance). Important detail from the audit: if fees are charged, they are taken from the protocol's own holdings — not directly from users — so the 1:1 peg between omUSD and its backing stays intact.

What the DAO controls (and what users don't get automatically)

Beyond yield distribution and fees, the DAO governs minimum amounts for minting or redemption and can upgrade the smart contracts. The bottom line: no yield is paid to omUSD holders automatically. Yield collects at the contract level, and any distribution depends on a DAO governance vote.

The Open Money website and documentation do not publicly disclose specific investors, backers, or venture capital firms. The governance documentation mentions that the "initial distribution of OMGT token will be made via private sale" and that "90% of governance tokens will be (eventually) owned by the community," but no investor names, fund amounts, round sizes, or dates are provided on any official source fetched. The homepage displays logos of BlackRock (iShares), Coinbase (Prime), and Clear Street as infrastructure/service partners, not as investors — these are referenced as ecosystem integrations (OUSG tokenized Treasuries builder and custodial/clearing partners).