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.
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SOURCE Chainlink and Superstate