Yield-bearing assets like cUSDO do not always trade at the same price across venues. Here’s why:

On OpenEden's platform, cUSDO reflects the reference value as yield accrues from underlying Treasuries.

On DEXs, pricing reflects not just this reference value, but also liquidity conditions and trading flow.

That’s why cUSDO can trade at a discount or premium on DEX venues, where prices are shaped by real-time supply and demand rather than strictly anchored to its reference value.