VanEck Treasury Fund

VanEck Treasury Fund (VBILL) is a tokenized money-market-style fund that targets a stable value of one US dollar per token and is designed for investors who want exposure to short-duration US government obligations through a blockchain-held token. The fund invests in cash, US Treasury bills, and repurchase agreements collateralized by US Treasury securities, where principal and interest are backed by the full faith and credit of the US government. It addresses the problem of accessing yield from traditional government securities entirely on-chain, without requiring investors to leave the blockchain environment.

VBILL tokens exist across multiple blockchain ecosystems simultaneously, including Ethereum, Solana, Avalanche, and BNB Chain, meaning the fund's on-chain representation is not confined to a single network. The fund accrues yield daily and distributes it by minting new tokens directly into investors' wallets each day, so the token count in a holder's wallet grows rather than the price of each token rising. No consensus algorithm is recorded for VBILL itself because it is a fund wrapper rather than a native blockchain protocol; settlement and token issuance rely on the underlying chains on which it is deployed.

The data stored for VBILL does not include a fee stream, fee rate, or protocol revenue figure, so no fee-based measures can be reported here. The fund's economic return to token holders comes from the daily accrual of yield generated by the underlying US Treasury obligations and repurchase agreements, distributed as newly minted tokens. Because no fee data is available in the stored record, metrics that this site typically derives from fee flows — such as fee yield or protocol revenue ratios — are not applicable to VBILL as currently described.