Eligibility file · Money-market fund

Franklin OnChain Institutional Liquidity Fund (iBENJI)

What the client owns

Share of a private Franklin money fund that rwa.xyz describes as holding government securities, cash, and repos at a $1.00 NAV; no fund document is public. Not stated: The issuer’s documents do not say whether the chain or an off-chain register governs. The file records the gap and the date it was checked.

Who may hold it

US qualified purchasers. First purchase $5,000,000. The only signed statement of terms is the Form D filed on 29 May 2025: Rule 506(b), the Investment Company Act section 3(c)(7) exclusion, which admits only qualified purchasers, and a $5,000,000 minimum; the file follows it. rwa.xyz lists non-US institutional investors and US qualified institutional buyers, a $5,000,000 first investment, and $100,000 after. The Form D reports no sales and no investors and has not been amended, while 1.72 billion iBENJI were outstanding on 2026-09-24.

Who can freeze or claw back

Ethereum: can freeze a holder, pause transfers, claw back, gate who may hold, mint, change the code. A contract can freeze a holder. Role token owner key: a single key.
BSC: can freeze a holder, pause transfers, claw back, gate who may hold, mint, change the code. ModuleRegistry owner key: a contract.

How it exits

Redeem with the issuer in its window. No public document states the redemption terms; rwa.xyz lists daily subscriptions and redemptions with no fee. Settles in .

Research and shelf status are on the memo: Franklin OnChain Institutional Liquidity Fund (iBENJI) Adverse research finding

Issuer

Franklin Onchain Institutional Liquidity Fund Ltd. (SEC CIK 2068319; Rule 506(b) private fund under section 3(c)(7); its Form D gives Delaware as the jurisdiction, rwa.xyz gives the British Virgin Islands); Franklin Advisers, Inc. as investment manager; Franklin Distributors, LLC as placement agent

Registration

Private placement, Rule 506(b)

Official record

Not named in any public document; the token has a Transfer Agent module, as BENJI does, whose transfer agent is Franklin Templeton Investor Services

Instruments

iBENJI

Chains

Ethereum, BSC

Reviewed

2026-09-24 · v1

Next review

2027-03-24

Who may buy, hold, transfer, and redeem

Each answer rests on the issuer’s own words, quoted from the document named under it. Ketju re-reads each document and records whether the words are still there. Where the documents say nothing, the row says so.

What the holder owns

No public document says what an iBENJI token represents; rwa.xyz calls it one share of the fund.

Not stated in SEC EDGAR: Franklin Onchain Institutional Liquidity Fund Ltd., Form D filed May 29, 2025, Franklin Templeton Benji DevHub: contract addresses, Franklin Templeton and Binance, Institutional Off-Exchange Collateral Program (2026-02-11, Nasdaq copy of the Business Wire release).

Who may hold it

Qualified purchasers, per the Form D’s section 3(c)(7) claim; no offering document is public.

“X Section 3(c)(7)”

SEC EDGAR: Franklin Onchain Institutional Liquidity Fund Ltd., Form D filed May 29, 2025 · Item 6, Federal Exemption(s) and Exclusion(s) Claimed · words found 2026-09-24

First purchase minimum

$5,000,000, per the Form D.

“Minimum investment accepted from any outside investor $ 5,000,000 USD”

SEC EDGAR: Franklin Onchain Institutional Liquidity Fund Ltd., Form D filed May 29, 2025 · Item 11, Minimum Investment · words found 2026-09-24

Who it may be transferred to

No public document says; the contract lets only authorized wallets hold and lets Franklin switch transfers off.

How a holder redeems

No public document states the redemption terms.

Who keeps the official record

No public document says who keeps the record of holders or which record governs.

What the issuer says it can freeze or take back

No public document says; the contract can freeze a wallet and burn a balance.

Fact	What the file records
Who onboards the holder	issuer
Voting rights	None
Distributions	new tokens
SIPC coverage of the wallet	No

What the issuer filed with the SEC

A private offering files Form D with the SEC within 15 days of its first sale and amends it each year while it sells. The issuer signs it. It states the exemption relied on, the fund’s exclusion from the Investment Company Act (which decides who may buy), the smallest investment accepted, the amount sold, and how many investors hold.

Filed	Form	Exemption claimed	Minimum	Sold to date	Investors
2025-05-29	D	Rule 506(b); Investment Company Act section 3(c)(7)	$5,000,000	$0	0

Filed by Franklin Onchain Institutional Liquidity Fund Ltd. (SEC CIK 2068319). Sold to date counts every sale since the first, not the fund’s size today. Ketju reads EDGAR daily; a new filing reopens this file.

What the filing record shows

No Form D amendment since 2025-05-29; a continuing offering amends each year.

Who can change the record

Powers read from the deployed contracts and their verified source: the token and every contract it consults on transfer. A power recorded here is the issuer’s ability, not evidence it has been used.

Chain	Freeze a holder	Pause	Claw back	Gate holders	Change the code	Keys held by
Ethereum	Yes	Yes	Yes	Yes	Yes	A contract can freeze a holder. Role token owner key: a single key.
BSC	Yes	Yes	Yes	Yes	Yes	ModuleRegistry owner key: a contract.

Who holds the keys

Every current holder of each power, read from the chain on 2026-09-24. A single key is one private key: whoever holds it acts alone. A multisig needs the stated number of signers. A timelock makes every action wait, so holders can see it coming.

Chain	Key	What it can do	Held by	Address
Ethereum	ModuleRegistry owner	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Admin role	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Role token owner	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Role token owner	grant and revoke these powers	a single key	0x42cc…a2d6
Ethereum	Role token owner	grant and revoke these powers	a single key	0x64d4…23e6
Ethereum	Role token owner	grant and revoke these powers	a single key	0xb671…b24f
Ethereum	Role authorization admin	decide who may hold, freeze a holder	a contract	0xe9ca…23e2
Ethereum	Admin role	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Role module owner	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Role module owner	grant and revoke these powers	a single key	0x42cc…a2d6
Ethereum	Role module owner	grant and revoke these powers	a single key	0x64d4…23e6
Ethereum	Role module owner	grant and revoke these powers	a single key	0xb671…b24f
Ethereum	Admin role	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Role module owner	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Role module owner	grant and revoke these powers	a single key	0x42cc…a2d6
Ethereum	Role module owner	grant and revoke these powers	a single key	0x64d4…23e6
Ethereum	Role module owner	grant and revoke these powers	a single key	0xb671…b24f
Ethereum	Admin role	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Role module owner	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Role module owner	grant and revoke these powers	a single key	0x42cc…a2d6
Ethereum	Role module owner	grant and revoke these powers	a single key	0x64d4…23e6
Ethereum	Role module owner	grant and revoke these powers	a single key	0xb671…b24f
Ethereum	Admin role	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Role module owner	grant and revoke these powers	a contract	0x27d7…1ad6
Ethereum	Role module owner	grant and revoke these powers	a single key	0x42cc…a2d6
Ethereum	Role module owner	grant and revoke these powers	a single key	0x64d4…23e6
Ethereum	Role module owner	grant and revoke these powers	a single key	0xb671…b24f
BSC	ModuleRegistry owner	grant and revoke these powers	a contract	0xf2f7…18b1

Role holders on BSC could not be read from the public event indexes on the last reading; the table shows only what was confirmed.

Ethereum: 6 contract reads at block 26044573, 6 functions in verified source, 2026-09-24

Read from the chain

eip1967.implementation=0xa74372dfde0df8a08a3ac7b60c5379f90ac9c7dd
moduleRegistry=0xf70e2726c60644ad6efe87289c2df830f39d34f7
getModuleAddress(MODULE_AUTHORIZATION)=0x12abff8dca2d09d99019dfcc9bf07539a8264066
getModuleAddress(MODULE_TRANSACTIONAL)=0x1933797bbf8f901b69bb81245d5a82091a0e0b76
getModuleAddress(MODULE_INTENT_VALIDATION)=0x9b61815c4388c7e0a9ef32b5b2b8926c379786d0
getModuleAddress(MODULE_TRANSFER_AGENT)=0xab266e4fa5d088cc440433c3ea1e066fd710a0a5

Read from verified source

authorizeAccount in verified source 0x52eb…8da2
freezeAccount in verified source 0x52eb…8da2
disableERC20Transfer in verified source 0xa743…c7dd
burnShares in verified source 0xa743…c7dd
mintShares in verified source 0xa743…c7dd
upgradeTo in verified source 0xa743…c7dd

BSC: 4 contract reads at block 123683187, 6 functions in verified source, 2026-09-24

Read from the chain

eip1967.implementation=0xd001e4edbea7d0e46cfee05cb95bc9664dc1da34
moduleRegistry=0xafcf771f5bacc9ecf3c32d4d145177aa9945d00c
getModuleAddress(MODULE_AUTHORIZATION)=0xfe1ce41141d489983e87cad56943e4d92bd12014
getModuleAddress(MODULE_TRANSACTIONAL)=0xab56aa7f1ed443401cefb3ed17d2795d4da59f6c

Read from verified source

authorizeAccount in verified source 0xf416…9240
freezeAccount in verified source 0xf416…9240
disableERC20Transfer in verified source 0xd001…da34
burnShares in verified source 0xd001…da34
mintShares in verified source 0xd001…da34
upgradeTo in verified source 0xd001…da34

Where it trades

Venue	Kind
Franklin Templeton Benji platform (institutional onboarding)	issuer primary

How it exits

Path	Settlement	Settles in
Redeem with the issuer in its window	No public document states the redemption terms; rwa.xyz lists daily subscriptions and redemptions with no fee

Reopen conditions: events that change an answer above

Franklin publishes an offering memorandum, fact sheet, or terms page for the fund; the file is then re-read for the claim, the record, transfer, and redemption
A new Form D or amendment for CIK 2068319 changes the exemption, the exclusion, the minimum, or the sales reported
The ROLE_TOKEN_OWNER holders, the authorization admin, or the implementation of iBENJI on Ethereum or BSC changes
The reader reads the BSC module role holders; the BSC controls are then completed
Franklin issues iBENJI on another chain

What the monitor reads daily

Every control function in the table above and the contracts the token consults on transfer; the token’s on-chain supply against yesterday’s; and its market quote against yesterday’s quote, since a fund of this kind accrues a few basis points a day. Every document quoted above is re-read too, and a quote that leaves its document reopens the file. EDGAR is read for the issuer’s Form D filings; a new filing reopens the file. A change opens a review item in the governance queue and reopens the file before any client action.

Sources

SEC EDGAR: Franklin Onchain Institutional Liquidity Fund Ltd., Form D filed May 29, 2025 · primary · accessed 2026-09-24
Supports: Delaware corporation formed 2024, Rule 506(b), section 3(c)(7), $5,000,000 minimum, no sales, no investors, Franklin Advisers as investment manager, Franklin Distributors as placement agent
Franklin Templeton Benji DevHub: contract addresses · primary · accessed 2026-09-24
Supports: iBENJI on Ethereum, iBENJI on BNB Smart Chain, module and MultiSig Module addresses
Franklin Templeton and Binance, Institutional Off-Exchange Collateral Program (2026-02-11, Nasdaq copy of the Business Wire release) · primary · accessed 2026-09-24
Supports: Benji-issued fund shares as Binance collateral, Ceffu custody, fund not named
Verified iBENJI implementation MoneyMarketFund on Ethereum (Sourcify) · primary · accessed 2026-09-24
Supports: upgrade gated by ROLE_TOKEN_OWNER, burnShares, disableERC20Transfer, mintShares
rwa.xyz: iBENJI · secondary · accessed 2026-09-24
Supports: BVI domicile, non-US institutions and US QIBs, $5M first, $100K after, 0.50% management fee, launch 2025-03-25, 44 holders

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