TL;DR
- Superstate announces an update for its USTB fund, focused on U.S. government securities, introducing a “continuous pricing” system.
- This innovation allows USTB holders to earn interest instantly, eliminating traditional settlement delays.
- The company plans future enhancements, such as “atomic minting” and redemptions on Ethereum, which promises to increase efficiency in DeFi integration.
Superstate, a tokenization firm, has announced a significant update for its USTB fund, which focuses on U.S. government securities.
The main novelty is the implementation of a “continuous pricing” system, a pioneering feature that allows for the dynamic updating of the fund’s net asset value, improving the investor experience.
1/ At Superstate, we’re advancing our mission to modernize finance with a major upgrade to our tokenized treasury fund, USTB: continuous pricing, real-time interest accrual, and 24/7/365 operations.
🔗https://t.co/FliW4EmOO2 pic.twitter.com/qEnYmKg32p
— Superstate (@superstatefunds) October 31, 2024
With this innovation, USTB holders will be able to obtain immediate interest calculations, eliminating the lag typically associated with traditional settlement cycles. This means that investors can start earning returns from the moment they invest, rather than having to wait until the next business day to see their earnings reflected.
4.8% Weekly Yield
The USTB fund currently manages over $145 million in assets and offers a yield of 4.80% over a seven-day period. Ownership in the fund is represented by an ERC-20 token, known as USTB. Robert Leshner, founder of Superstate, emphasized the importance of this update as it allows the integration of blockchain logic and principles into the traditional part of its tokenized fund.
In addition to the immediate benefits for investors, Leshner also stated that the introduction of continuous pricing could enhance composability in the DeFi ecosystem. This means that DeFi protocols will be able to integrate Treasury bonds with unprecedented efficiency. However, the continuous pricing service is currently limited to T-bills, as they offer predictable returns, unlike other tokenized assets that can experience constant fluctuations.
Superstate Has More Surprises in Store
Leshner also mentioned that the company has plans for future improvements to the system, including “atomic minting” and redemptions through USTB contracts on the Ethereum network. This will open the door to new workflows for DeFi protocols, stablecoin issuers, and automated investment strategies.
Superstate’s update not only sets a new standard in fund management but also highlights the potential of blockchain technology to transform investment products. The company is pioneering the modernization of the financial sector, building improvements that could benefit investors in the near future