Superstate Integrates Chainlink Infrastructure To Enhance the Transparency and Utility of the USTB Tokenized Fund
The integration helps to bring NAV onchain for Superstate’s tokenized treasury fund, USTB.
SAN FRANCISCO, Aug. 12, 2024 /PRNewswire/ — Superstate, an asset management firm modernizing investing through tokenized financial products, and Chainlink, the industry-standard decentralized computing platform, announced today the integration of Chainlink Data Feeds into Superstate’s tokenized treasury fund, the Superstate Short Duration US Government Securities Fund (USTB). This integration enables Superstate to securely bring net asset value (NAV) data onchain, enhancing the composability of the fund across the onchain financial markets.
Tokenized real-world assets, like Superstate’s USTB, require high-quality offchain data for market pricing. Superstate has addressed these needs by integrating Chainlink Data Feeds for onchain NAV data, enhancing transparency and utility for USTB. Additionally, Superstate is integrating Chainlink Proof of Reserve in the coming months, to further enhance onchain verification of AUM data.
“Asset tokenization enhances efficiency, programmability, and transparency but requires reliable onchain data to unlock DeFi and automation use cases,” said Superstate CEO and Co-founder Robert Leshner. “Our integration with Chainlink ensures transparent data for our investors, allowing us to focus more on our core business.”
NAV data is essential for both traditional and tokenized funds. USTB’s NAV data is calculated offchain by NAV Fund Services and Superstate, then accurately reported and synchronized onchain in an automated and secure manner using Chainlink’s decentralized oracle infrastructure. This enables real-time transparency, democratizes access, and creates opportunities for funds to be composable and programmable in collateralized lending, asset management, and market making.
“Superstate is playing a fundamental role in advancing infrastructure and servicing essential aspects of the rapidly growing tokenized asset economy,” said Johann Eid, Chief Business Officer at Chainlink Labs. “We’re excited to see the new use cases and opportunities Superstate will unlock by integrating the Chainlink platform to bring NAV and AUM data around its tokenized treasury fund USTB onchain.”
About Superstate
Superstate is an asset management firm modernizing the infrastructure of investment funds for crypto native institutional investors. We offer investment products that benefit from the speed, programmability, and compliance advantages of blockchain tokenization. Superstate’s suite of products includes tokenized treasury fund USTB, and tokenized crypto basis fund, USCC. Learn more about our products for institutional investors at Superstate.co.
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $12 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
SOURCE Chainlink and Superstate
