Superstate Short Duration US Government Securities Fund (USTB) STEP Application

Superstate is honored to have USTB included as part of the STEP Committee Shortlist. We’re excited for the opportunity to work with the Arbitrum DAO to deliver stable, uncorrelated yield, and help grow the RWA ecosystem.

Here’s a quick update on some key information related to USTB:

Yield: 5.36% (as of June 5, 2024)
AUM: $134,760,000 (as of June 5, 2024)
Fees: 0% (while under $200M AUM)
Investors: 21 (as of June 5, 2024)
Liquidity: USTB has processed $50M+ in redemptions over the last 90 days, each one settled to clients either T+0 or T+1

We constantly work to improve our product to create more value for clients. With this in mind, we wanted to share some updates with the Arbitrum community on recent product enhancements:

USTB Landing Page & Docs

USTB now publishes holdings (securities in the Fund) weekly, in addition to the yield and NAV daily. Please refer to the Fund’s landing page here: https://superstate.co/ustb.

We’re also excited to unveil our new Knowledge base, which contains high-level information about the Fund here: https://docs.superstate.co/. This regularly updated resource open-sources the USTB repository and outlines the onboarding process, investor portal, legal structure, smart contracts, etc… We’ve also introduced a new $100K Bug Bounty Program as well.

Transferability

We are pleased to announce that onchain, peer-to-peer transfers of USTB are now live. KYC’ed investors can now transfer USTB to, and receive USTB from, other Ethereum addresses on the USTB Allowlist.

This development opens up new opportunities for secondary markets where USTB can be used for a variety of functionalities including portable collateral for intraday margin or settlement in secondary market transactions.

We are thrilled to unlock this additional capacity and look forward to expanding further utility for investors to leverage USTB across crypto capital markets in the future.

Improved Investor Portal

We’ve added Roles and Permissions functionality to the Superstate Investor Portal.

The two new roles are as follows:

  • Admins: Can invite other users and manage their roles. In the future, we’ll add more functionality for Admins, including editing your AllowList, bank account info, and other entity information.
  • Team Members: View-only access to the portal including balances, transactions, offering docs, and statements.

Also, to enhance the security of the investor’s Superstate account, we have introduced 2-Factor Authentication. This functionality further protects your account and sets the foundation for Superstate to introduce additional enhancements to the Investor Portal.


Superstate continues to expand our work with other Foundations/DAOs and we look forward to growing with Arbitrum as well. We look forward to the next steps in the STEP program to launch a meaningful partnership with the Arbitrum ecosystem to help grow RWAs on-chain.

Superstate continues to engage with members of the Arbitrum ecosystem to identify multiple opportunities outside the STEP program to further support the growth and proliferation of RWAs.

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