Hi all, Fig from Superstate here. I lead Protocol Relations and am looking forward to working with the community.
Thank you to Allez, Yearn, and Morpho for a thoughtful proposal. Superstate, led by Robert Leshner, is excited to support Polygon’s ecosystem growth and collaborate with top-tier teams to deliver sustainable, liquid, real-world yield.
Superstate’s USTB (https://superstate.co/ustb) was selected through rigorous RFP processes to deliver innovative tokenized asset management to support protocol treasuries and manage reserves for stablecoins. Today, USTB powers a variety of projects, including:
USTB is also under evaluation in the Spark Tokenization Grand Prix to support Sky’s USDS (link here). USTB is a great compliment to USDS and stUSD as collateral as it is 1) bankruptcy-remote as a Delaware Statutory Trust 2) the Investment Mandate is Sub-Advised by Federated Hermes, a $800B+ fixed income asset manager and 2) holds short-duration US treasury bills, with NAV struck by the second.
We’re eager to contribute our DeFi expertise and crypto-native product features (Continuous Pricing and Protocol Mint / Redeem) to provide Polygon with great onchain products to help generate yield for the idle stablecoins in the bridge.
We’ll be closely monitoring the Forum and are here to address any questions as it relates to Superstate and/or USTB and look forward to the Polygon community’s input and the continued development of this PIP.