Compound Labs Files for Ethereum-Based Government Bond Fund
Compound Labs executives have submitted a filing for an Ethereum-based government bond fund called ‘Superstate.’ This fund will use blockchain technology to maintain a secondary record of shareholders on the Ethereum blockchain. It does not directly invest in blockchain technology or cryptocurrencies.
Key Points:
– The Superstate government bond fund uses blockchain tech for record keeping.
– The minimum initial purchase and minimum investment for subsequent purchases are not disclosed.
– The portfolio managers for the fund are Compound founder and CEO Robert Leshner and Compound’s Head of Sales Jim Hiltner.
– The fund’s shares may be available for purchase, sale, or transfer on a blockchain in the future.
Compound Labs’ Recent Progress:
– In August 2022, Compound Labs deployed smart contracts for the USDC market on Ethereum.
– Compound Finance is a major player in the DeFi space, and they have also launched Compound Treasury to cater to institutions.
– Compound Treasury allows accredited institutions to borrow USD or USDC at a 4% annual percentage rate (APR).
– S&P Global Ratings has given Compound Treasury a credit rating of B-.
Hot Take:
Compound Labs is expanding its offerings beyond decentralized finance (DeFi) by venturing into the traditional finance (TradFi) space with the Superstate government bond fund. By utilizing blockchain technology for record keeping, the fund aims to enhance operational efficiencies and improve the shareholder experience. This move showcases Compound Labs’ commitment to innovation and adapting to the changing landscape of finance.
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