VBILL

[GarlicKnot]

VanEck Treasury Fund https://securitize.io/primary-market/vaneck-vbill

---

Name (to be shown on DefiLlama):

VanEck Treasury Fund (VBILL)

Twitter Link:

https://x.com/vaneck_us

List of audit links if any:

Website Link:

https://securitize.io/primary-market/vaneck-vbill

Logo (High resolution, will be shown with rounded borders):

https://securitize-public-files.s3.us-east-2.amazonaws.com/token_logos_svg/VBILL.svg
https://securitize-public-files.s3.us-east-2.amazonaws.com/token_logos_png/VBILL.png

Current TVL:

75,484,739.74 USD

Treasury Addresses (if the protocol has treasury)

N/A

Chain:

ETH, BSC, AVAX, SOL

Coingecko ID (so your TVL can appear on Coingecko, leave empty if not listed): (https://api.coingecko.com/api/v3/coins/list)

vaneck-treasury-fund
https://www.coingecko.com/en/coins/vaneck-treasury-fund

Coinmarketcap ID (so your TVL can appear on Coinmarketcap, leave empty if not listed): (https://api.coinmarketcap.com/data-api/v3/map/all?listing_status=active,inactive,untracked&start=1&limit=10000)

Short Description (to be shown on DefiLlama):

Earn stable yield with daily liquidity by investing in short-term U.S. Treasuries via blockchain.

Token address and ticker if any:

VBILL

• https://etherscan.io/token/0x2255718832bc9fd3be1caf75084f4803da14ff01
• https://bscscan.com/token/0x14d72634328c4d03bba184a48081df65f1911279
• https://snowtrace.io/token/0x7F4546eF315Efc65336187Fe3765ea779Ac90183
• https://solscan.io/token/34mJztT9am2jybSukvjNqRjgJBZqHJsHnivArx1P4xy1

Category (full list at https://defillama.com/categories) *Please choose only one:

https://defillama.com/protocols/rwa

Oracle Provider(s): Specify the oracle(s) used (e.g., Chainlink, Band, API3, TWAP, etc.):

Redstone

Implementation Details: Briefly describe how the oracle is integrated into your project:

NAV, Daily Yield, and 7 Day yield are pushed daily via Redstone

Documentation/Proof: Provide links to documentation or any other resources that verify the oracle's usage:

https://www.coindesk.com/tech/2025/07/01/securitize-redstone-pilot-trusted-single-source-oracle-to-secure-tokenized-fund-navs

forkedFrom (Does your project originate from another project):

methodology (what is being counted as tvl, how is tvl being calculated):

TVL = (Σ Tokens Outstanding across chains) * NAV

This is a stable NAV product so the NAV value should remain fairly stable with the yield varying per day (so new tokens are issued daily according to the yield).

Github org/user (Optional, if your code is open source, we can track activity):

[llamabutler]

The adapter at projects/vbill exports TVL:

ethereum                  31.55 M
bsc                       22.58 M
solana                    18.72 M
avax                      2.63 M

total                    75.48 M 

[GarlicKnot]

Added logo links

[waynebruce0x]

Is VBILL priced independently on each chain? We will move the pricing logic into our coins price server

[GarlicKnot]

@waynebruce0x Correct - Securitize publishes a price per token per chain at the moment which is then pushed onchain via RedStone - you can verify these feeds here. This is the same general methodology we are using for other assets (BUIDL, ACRED, etc.)

[Administrator of Fund Determines NAV] → [Passed to Securitize] → [Updated (If required) at Securitize] → [Passed to Redstone] → [Pushed Onchain]

And then other consumers such as CoinGecko are downstream of that onchain price feed.

• https://app.redstone.finance/app/feeds/?search=vbill

It's a reasonable assumption that all prices will remain consistent per chain since in this case it's a stable NAV product so pricing always remain $1.00 USD.

If it's helpful for VBILL the holdings are updated most business days here https://id.securitize.io/primary-market/opportunities/407 - which requires login - but a sample screenshot from today is below.

[waynebruce0x]

We have pricing for VBILL in our API now so no need to calculate the prices manually here DefiLlama/defillama-server@5eb43a8

[GarlicKnot]

OK will refactor the PR and resubmit.

[llamabutler]

The adapter at projects/vbill exports TVL:

ethereum                  31.55 M
bsc                       22.59 M
solana                    18.62 M
avax                      2.53 M

total                    75.29 M 

[llamabutler]

The adapter at projects/vbill exports TVL:

ethereum                  31.55 M
bsc                       22.59 M
solana                    18.62 M
avax                      2.53 M

total                    75.29 M 

[GarlicKnot]

@waynebruce0x should be ready for another review - I restructured in line with https://github.com/DefiLlama/DefiLlama-Adapters/blob/main/projects/securitize/index.js for consistency.

[waynebruce0x]

whats the purpose of this conversion?

[GarlicKnot]

It was to handle assigning the price for SOL - I had used the code from securitize/index.js aptos code as a reference . I reverted it in line with the BUIDL code.

[waynebruce0x]

How often can we expect priceData.updatedAt to update? right now the price looks stale

[llamabutler]

The adapter at projects/vbill exports TVL:

ethereum                  31.61 M
bsc                       22.61 M
solana                    18.64 M
avax                      2.53 M

total                    75.39 M 

[GarlicKnot]

The price should get refreshed every 24 hours roughly, noting it should not ever vary from $1.00.

For this fund (like BUIDL) the group running the fund

• calculates the amount of value in the fund every day
• takes everything out above $1.00 a share and
• pays that out in the dividend the next day

This is typically completed late afternoon US ET (UTC-4) and is the 'expected behavior' for this sort of product.

I removed the calculated value for SOL consistent with the recent PR here.
#15387