Oracles bridge blockchains and the external world, enabling smart contracts to operate using real-world data. Through the partnership, Chronicle’s VAO will provide an attestation of USTB’s underlying asset – short-duration U.S. Treasury Bills. By providing an independent and accessible onchain record of USTB’s net asset value (NAV), investors will have increased transparency into the fund’s underlying assets.
Formerly known as the RWA Oracle, Verified Asset has already seen adoption from Centrifuge and Anemoy, Midas, and M^0. The VAO utilizes the unique technical advantages and long-standing reputation of Chronicle Protocol to securely and transparently verify the integrity and quality of any offchain asset.
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.”
“Reliable onchain data is essential to scaling asset tokenization and unlocking new onchain 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 onchain financial products.”
Key benefits of this integration include:
- Real-Time Transparency: Providing stakeholders with visibility into the USTB balance sheet and a real-time view of asset values, improving investor confidence.
- Data verifiability: On and offchain verification by independent sources such as Ernst & Young and Chronicle’s Verified Asset Oracle.
The combination of Chronicle’s trusted Oracles and Superstate’s experience in tokenized funds serves as further proof of DeFi’s potential to transform finance. As tokenization drives institutional interest in DeFi, Chronicle has become a trusted Oracle partner for institutions by extending the innate advantages of DeFi to institutional products.
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