BounceBit has launched Borobudur, a credit infrastructure layer enabling holders of Franklin Templeton’s BENJI tokenized U.S. government money market fund shares to borrow at zero interest without selling their positions. The system, integrated into BounceBit’s BB Credit portal, uses BENJI positions as collateral for credit lines denominated in BounceBit’s native BB tokens. This approach allows yield-bearing assets to serve as collateral without liquidation. Franklin Templeton launched the BENJI token in 2021, representing shares in the Franklin OnChain U.S. Government Money Fund (FOBXX), now available across multiple blockchains including Stellar, Avalanche, Polygon, Ethereum, and BNB Chain. The core value proposition is capital efficiency, enabling investors to earn yield while accessing liquidity against their positions, though risks related to smart contracts and BB token volatility remain.
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