Robert Leshner, CEO of decentralized lender Compound, submitted filings to U.S. securities regulators for"Superstate," a new company that will create a short-term government bond fund using the Ethereum blockchain as a secondary record-keeping tool.with the Securities and Exchange Commission, Superstate's fund will invest in"ultra-short duration government securities," including U.S. Treasury bonds, government agency securities and other government-backed instruments.
However, it the filing continues,"ownership of certain fund shares also will be recorded on one or more blockchains, initially the Ethereum blockchain, in the form of the Secondary Blockchain Records." "The adviser believes that a blockchain-integrated recordkeeping system may provide operational efficiencies and enhance shareholder experience without negatively impacting the quality of the services provided by the fund's transfer agent," according to the filing.
In that case,"the transfer agent's official record would be reconciled and matched routinely with the Secondary Blockchain Records to effect any peer-to-peer transfers of shares," the filing states.by Superstate Inc. indicated a plan to sell as much as $3.75 million of securities in the category of"option, warrant or other right to acquire another security."Wednesday that"this is the first step on a long journey to upgrade financial markets.
"Eventually, hundreds of trillions of 'offline' assets will find their way onto blockchains," Leshner wrote."We plan to facilitate that migration."