Superstate and Chronicle partner to integrate the Verified Asset Oracle (formerly known as the RWA Oracle), raising the standard of verification of ‘real-world assets’. Initially, this integration will provide the on-chain net asset value (NAV) data for Superstate’s Short Duration US Government Securities Fund (USTB), evolving into a deeper protocol integration over the coming months.
Superstate, an asset management firm focused on modernizing investing for institutional investors through tokenized financial products, launched their U.S. Treasury fund, USTB, in February 2024. With a commitment to enhancing USTB’s composability and supporting DeFi applications, Superstate is continuously rolling out updates to improve on-chain functionality and investor accessibility. Integrating Chronicle’s Verified Asset Oracle allows Superstate to further these goals, providing secure and transparent data attestation for USTB’s underlying assets and building confidence in its use as a reliable, DeFi-compatible asset.
This integration will be a key step to further enhance USTB’s composability and interoperability on-chain. Utilizing Verified Asset by Chronicle, Superstate takes advantage of the Chronicle’s decentralized oracle network to provide an attestation of USTB’s underlying assets.
"Reliable onchain data is essential to scaling asset tokenization and unlocking new on-chain use cases,” said Robert Leshner, CEO and Co-founder of Superstate. “Integrating Chronicle’s Verified Asset Oracle provides the transparency our investors expect and enables us to continually expand and enhance our suite of on-chain financial products.”
By raising the standard of the verifiability of the USTB with Chronicle, Superstate provides increased transparency and improves investor confidence, moving towards a more ‘trustless’ protocol akin to the blockchain rails it runs on.
Speaking on Superstate selecting Chronicle as an Oracle partner for USTB, Niklas Kunkel, Founder of Chronicle, said, “Our partnership with Superstate is the latest example of how Chronicle is fulfilling our mission to bring data security, transparency, and resilience to the products and projects we support. The Oracle deployed for Superstate will serve as proof of the underlying asset, bringing a unique level of transparency to the fund. We are proud to support Superstate in this capacity as we see tokenized funds like those being built by Superstate as a crucial step forward in merging the benefits of DeFi and TradFi.”
The combination of Chronicle’s trusted and secure decentralized oracle network with Superstate’s leadership in tokenized funds serves as further proof of DeFi’s potential to transform traditional finance. As tokenization drives institutional interest in DeFi, Chronicle’s Verified Asset Oracle continues to support those leading the way, including Anemoy’s Liquid Treasury Fund via Centrifuge, Midas, Mountain Protocol, and M^0.
