As a seasoned analyst with years of experience in the blockchain and finance industry, I find this development between Superstate and Chainlink to be a significant step forward for the tokenization market. My extensive background in both fields allows me to appreciate the strategic synergy these two entities bring to the table.
In simpler terms, a company called Superstate, which specializes in managing assets using blockchain technology, has decided to use Chainlink’s technology. This move is aimed at taking advantage of the expanding market for tokenization.
As an analyst, I’m excited to share that we will be integrating Chainlink (LINK) Data Feeds into our system. This move is designed to bring transparency and accuracy to the net asset value data of our tokenized treasury fund by making it accessible on-chain. Our goal, as outlined in our recent announcement, is to elevate the composability of our Superstate Short Duration US Government Securities Fund by harnessing Chainlink’s advanced technology.
By integrating this system, the company can tap into vital data sources off the blockchain network, which is crucial for determining market prices, assessing its usefulness, and ensuring transparency.
Rapidly growing tokenization market
As a seasoned investor who has navigated through the traditional financial markets for years, I find myself increasingly drawn towards decentralized finance (DeFi) and real-world asset integration, which is why I am excited about Chainlink’s data integration with Superstate. With my experience in both traditional finance and the burgeoning world of DeFi, I believe that this collaboration will give Superstate a significant edge, enabling it to gain further traction in the market as more investors seek opportunities to diversify their portfolios beyond conventional assets.
“Johann Eid, Chief Business Officer at Chainlink Labs, stated that Superstate is significantly contributing to the development of infrastructure and addressing key features within the swiftly expanding market of tokenized assets.”
In the past few months, the digitalized government bond market has experienced substantial advancements. Notably, BlackRock unveiled its USD Institutional Digital Liquidity Fund on the Ethereum blockchain (ETH). At present, BUIDL is dominating the sector with more than $513 million in assets they manage.
Based on data from the tokenized tracking site rwa.xyz, the Franklin On-Chain U.S. Government Money Fund by Franklin Templeton and the Ondo U.S. Dollar Yield are ranked second and third in terms of market size among tokenized U.S. Treasury assets. The market capitalization of Franklin’s FOBXX exceeds $412 million, while the current market value of Ondo Finance’s USDY stands at approximately $299 million.
A company called Superstate, supported financially by venture capitalists like CoinFund, Arrington Capital, and Cumberland, has more than $129 million in assets under management for its tokenized goods. As per rwa.xyz, the market cap of its USTB stands at around $75 million, which is seventh in rank, following behind the Ondo Short Term U.S. Government Bond Fund, Hashnote Duration Yield Coin, and OpenEden TBILL Vault.
The market values of OUSG, USYC, and TBILL are approximately $214 million, $181 million, and $94 million respectively.
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2024-08-12 22:48