By adding Chainlink Data Feeds, Superstate plans to make its tokenized reserve fund more open and competitive in the market. This change will put the Superstate Short Duration US Government Securities Fund’s net asset value data on the blockchain. The goal is to make the fund more flexible.
Through its partnership with Chainlink, Superstate has access to important off-chain data that is needed for correct market pricing and better utility. Chainlink’s technology will help the company find its way in the world of digital finance and add more real-world assets to its portfolio. The USTB fund lets qualified buyers buy assets that belong to the U.S. Treasury.
Chainlink Boosts Superstate’s Fund
“Superstate is playing a fundamental role in advancing infrastructure and servicing essential parts of the rapidly growing tokenized asset economy,” said Johann Eid, Chief Business Officer at Chainlink Labs.
BlackRock’s start of the USD Institutional Digital Liquidity Fund on Ethereum (ETH) is one of the most recent developments in the tokenized treasury market. At the moment, BUIDL has more than $513 million in assets under management, making it the leader in the field.
As of today, rwa.xyz says that Ondo Finance’s USDY and Franklin Templeton’s Franklin On-Chain U.S. Government Money Fund are the two significant tokenized U.S. Treasury assets, with market caps of over $412 million and $299 million, respectively.
With help from venture capital firms like CoinFund, Arrington Capital, and Cumberland, Superstate handles more than $129 million in assets across all of its tokenized products. At the moment, its $75 million USTB fund is ranked seventh by market cap, behind funds like the Hashnote Duration Yield Coin and the Ondo Short Term U.S. Government Bond Fund. Their market caps are $214 million for OUSG, $181 million for USYC, and $94 million for TBILL.
