RWA 比較
BUIDL 與 BENJI：機構數位流動性基金與政府貨幣市場基金份額代幣之比較
僅按證據域比較。無總冠軍。 · 可發布
BUIDL · BlackRock USD Institutional Digital Liquidity Fund
- 代幣化貨幣市場基金
- 基金份額
- 貨幣市場收益
- 未知
BENJI · Franklin OnChain U.S. Government Money Fund
- 代幣化貨幣市場基金
- 基金份額
- 貨幣市場收益
- 未知
主要結構差異
- 法律包裝形式不同：BUIDL 是依 Regulation D 向合格買方提供的 BVI 基金份額；BENJI 則是依第 2a-7 規則登記的美國政府貨幣市場基金份額，1 枚代幣相當於 1 份基金份額。
- 分配機制不同：BUIDL 以額外代幣分配累積收益，使淨資產價值維持在接近 1.00 美元的水準；BENJI 則依循標準政府貨幣市場基金的股息／分配慣例。
- 雙方皆採用過戶代理人模式，正式的持有紀錄由過戶代理人維護（BUIDL 為 Securitize；BENJI 則為 Franklin Templeton 整合區塊鏈的過戶代理人），而非僅依賴智能合約的託管模式。
揭露
- 本次兩項紀錄皆未擷取到費率表的原始來源網址。
- 請勿將任一代幣描述為「非託管」——兩者皆依賴過戶代理人記錄的持有結構，而非自我託管的智能合約請求權。
域比較
法律請求權
BUIDL · BlackRock USD Institutional Digital Liquidity Fund基金份額 — BlackRock USD Institutional Digital Liquidity Fund Ltd. 的基金份額，該基金為 BVI（英屬維京群島）基金，依 Regulation D 向依第 3(c)(7) 條認定的合格買方提供。
BENJI · Franklin OnChain U.S. Government Money Fund基金份額 — Franklin OnChain U.S. Government Money Fund（FOBXX）的基金份額；1 枚 BENJI 代幣代表 1 份基金份額，正式的持有紀錄由過戶代理人（transfer agent）整合區塊鏈的系統維護。
收益來源
BUIDL · BlackRock USD Institutional Digital Liquidity Fund貨幣市場收益 + 國債利息 (浮動)
BENJI · Franklin OnChain U.S. Government Money Fund貨幣市場收益 + 國債利息 (浮動)
底層
BUIDL · BlackRock USD Institutional Digital Liquidity Fund美國國庫券、隔夜／定期附買回交易，以及現金。
BENJI · Franklin OnChain U.S. Government Money Fund依第 2a-7 規則對政府貨幣市場基金的要求，持有美國政府證券及相關附買回交易。
損失承擔方
BUIDL · BlackRock USD Institutional Digital Liquidity FundUNKNOWN — fund-level loss allocation mechanics beyond standard money-market fund risk not itemized this pass.
BENJI · Franklin OnChain U.S. Government Money FundUNKNOWN — fund-level loss allocation beyond standard Government MMF structure not itemized this pass.
贖回
BUIDL · BlackRock USD Institutional Digital Liquidity FundRedemption through the fund's transfer agent / distribution process for eligible investors.
BENJI · Franklin OnChain U.S. Government Money FundStandard mutual-fund share redemption via Franklin Templeton / the fund's transfer agent.
投資者資格
BUIDL · BlackRock USD Institutional Digital Liquidity FundQualified Purchasers under Section 3(c)(7); offered via Regulation D — not a public retail offering.
BENJI · Franklin OnChain U.S. Government Money FundPer Franklin Templeton fund eligibility / account-opening requirements; not itemized in detail this pass.
託管
BUIDL · BlackRock USD Institutional Digital Liquidity FundBNY Mellon as custodian.
BENJI · Franklin OnChain U.S. Government Money FundFund assets held per standard registered-fund custodian arrangements; specific custodian not itemized this pass.
費用
BUIDL · BlackRock USD Institutional Digital Liquidity FundManagement fee: UNKNOWN
BENJI · Franklin OnChain U.S. Government Money FundFund management / advisory fee: UNKNOWN
到期 / 存續期
BUIDL · BlackRock USD Institutional Digital Liquidity Fund浮動收益 · 贖回時點：UNKNOWN
BENJI · Franklin OnChain U.S. Government Money Fund浮動收益 · 贖回時點：UNKNOWN
審計 / 鑑證
BUIDL · BlackRock USD Institutional Digital Liquidity Fund無結構化鑑證列
BENJI · Franklin OnChain U.S. Government Money Fund無結構化鑑證列
代幣控制
BUIDL · BlackRock USD Institutional Digital Liquidity FundSecuritize-administered issuance to allowlisted holders.
BENJI · Franklin OnChain U.S. Government Money FundFranklin Templeton transfer agent controls issuance corresponding to fund share purchases.
監管結構
BUIDL · BlackRock USD Institutional Digital Liquidity FundShares are offered under Regulation D to Qualified Purchasers under Section 3(c)(7) of the Investment Company Act; not a registered public fund offering.
BENJI · Franklin OnChain U.S. Government Money FundFranklin OnChain U.S. Government Money Fund is an SEC-registered Government Money Market Fund operating under Rule 2a-7 of the Investment Company Act of 1940.
證據時效
BUIDL · BlackRock USD Institutional Digital Liquidity Fund2026-08-30
BENJI · Franklin OnChain U.S. Government Money Fund2026-08-30
僅本地比較。禁用詞：safer、better、best、recommended、best yield、winner。Day-7：不部署。