{"sample":false,"asset":{"slug":"ustb","sample":false,"name":"Invesco Short Duration US Government Securities Fund","ticker":"USTB","assetClass":"us-treasuries","description":"Tokenized private fund (formerly the Superstate Short Duration US Government Securities Fund) that holds short-term US Treasury bills. Interest accrues into a rising NAV per share, which started at $10.\n","issuer":"superstate-ustb-fund","manager":"invesco","platform":"superstate","tokenStandard":"custom","priceModel":"accumulating-nav","deployments":[{"chain":"ethereum","token":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","discovery":{"ignoreMethods":[],"labels":{"0xad309BB6f13074128b4F23EF9EA2fe8552AfCA83":"Superstate admin key (token + ProxyAdmin owner)","0x4B1df64357a5D484563c9b7c16a80eD8B8fB1395":"NAV checkpoint writer (oracle owner)","0x7747940aDBc7191f877a9B90596E0DA4f8deb2Fe":"Allowlist owner","0xb9d285DCaD879513DC9c1A3b2e0CCcB21c3c2146":"USTB ProxyAdmin","0xBcBC2b4FB2AbE1C598C9ea91E0b03338e4728D1f":"AllowlistV4","0xE4fA682f94610cCd170680cc3B045d77D9E528a8":"SuperstateOracle"}}}],"access":{"investorType":{"value":"qualified-purchaser","source":{"url":"https://superstate.com/assets/ustb","note":"Accredited Investors and Qualified Purchasers; US persons are eligible","checkedAt":"2026-10-13"}},"minimumInvestment":{"status":"public","value":100000,"source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","note":"$100,000 initial, unless Superstate waives it","checkedAt":"2026-10-13"}},"transferRestricted":{"value":true,"source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","note":"Every transfer, mint, subscribe, bridge and redeem checks the allowlist. The token reads AllowlistV4 0xBcBC2b4F…8D1f (allowlist() at block 26,183,016).","checkedAt":"2026-10-13"}}},"legal":{"vehicleType":{"status":"public","value":"Series of a Delaware statutory trust (Superstate Asset Trust)","source":{"url":"https://superstate.com/assets/ustb","checkedAt":"2026-10-13"}},"jurisdiction":{"status":"public","value":"Delaware, United States","source":{"url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0002004367","checkedAt":"2026-10-13"}},"lei":{"status":"not_public","searchedAt":"2026-10-13","note":"No LEI for the USTB series. Superstate Asset Trust itself is 254900HBBFFSKNX6LZ37 (ACTIVE)."},"secFilings":{"status":"public","value":{"cik":"0002004367","forms":["D","D/A"]},"source":{"url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0002004367","note":"Form D 2024-01-02; D/A through 2026-07-14","checkedAt":"2026-10-13"}},"offeringDocument":{"status":"not_public","searchedAt":"2026-10-13","note":"Fund documents are only in the Superstate Investor Portal"},"auditedFinancials":{"status":"not_public","searchedAt":"2026-10-13"},"insolvency":{"status":"not_public","searchedAt":"2026-10-13","note":"A separate series of a statutory trust. Only a secondary source (Yearn curation report) claims 'bankruptcy remoteness from Superstate Inc.'; no primary-document quote found."}},"freshnessClass":{"value":"tbill-mmf","source":{"url":"https://superstate.com/assets/ustb","note":"Short-duration Treasury bill fund.","checkedAt":"2026-10-25"}},"underlying":{"holdings":{"status":"public","value":{"asOf":"2026-09-21","basis":"report","items":[{"type":"government-bills","pct":99.59,"label":"T-bills (35 positions)"},{"type":"cash","pct":0.41}]},"source":{"url":"https://superstate.com/assets/ustb","note":"Holdings table 'As of 09/21/2026': 35 U.S. Treasury Bills summing to 99.59% of the fund; the rest is cash.","checkedAt":"2026-10-25"}},"wamDays":{"status":"public","value":87,"source":{"url":"https://superstate.com/assets/ustb","note":"Computed by RWAbeat from the 35 positions' maturities and weights on 2026-09-21 (86.6 days).","checkedAt":"2026-10-25"}},"trackRecord":{"value":{"since":"2024-01-02","losses":[]},"source":{"url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0002004367","note":"First Form D 2024-01-02. No loss or NAV drop found.","checkedAt":"2026-10-25"}}},"counterparties":{"custodian":{"status":"public","value":"bny","source":{"url":"https://superstate.com/assets/ustb","note":"Custodian: The Bank of New York Mellon (replaced UMB Bank in March 2026; rwa.xyz still shows UMB).","checkedAt":"2026-10-25"}},"fundAdministrator":{"status":"public","value":"nav-fund-services","source":{"url":"https://superstate.com/assets/ustb","note":"NAV calculation agent: NAV Fund Services","checkedAt":"2026-10-25"}},"auditor":{"status":"public","value":"pwc","source":{"url":"https://superstate.com/assets/ustb","note":"Auditor: PricewaterhouseCoopers LLP (replaced Ernst & Young).","checkedAt":"2026-10-25"}},"transferAgent":{"status":"public","value":"superstate","source":{"url":"https://superstate.com/assets/ustb","note":"Superstate Services LLC","checkedAt":"2026-10-13"}},"affiliated":{"value":["transfer-agent"],"source":{"url":"https://superstate.com/assets/ustb","note":"Transfer agent is Superstate Services LLC, the sponsor's own SEC-registered transfer agent.","checkedAt":"2026-10-25"}},"settlementRails":{"value":["usd-wire","usdc"],"source":{"url":"https://superstate.com/assets/ustb","note":"Redemption timing: Same-day. Immediate for USDC; 1pm ET cutoff for USD.","checkedAt":"2026-10-25"}},"operators":[{"role":"Investment manager","name":"Invesco Advisers, Inc.","source":{"url":"https://superstate.com/assets/ustb","checkedAt":"2026-10-25"}},{"role":"Transfer agent","name":"Superstate Services LLC","source":{"url":"https://superstate.com/assets/ustb","checkedAt":"2026-10-25"}}],"dependencies":[]},"control":{"audits":[{"auditor":"0xMacro","scope":"Superstate AllowlistV3","date":"2025-07-31","source":{"url":"https://0xmacro.com/library/audits/superstate-9","note":"Most recent of the 0xMacro reports that covers the USTB stack; reports 10 and 11 cover equity tokens.","checkedAt":"2026-10-25"}}],"bugBounty":{"status":"not_public","searchedAt":"2026-10-25","note":"Superstate's investor security page says it has no formal reward policy."},"powersDocumented":{"value":false,"source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"Docs cover minting, allowlist changes and forced burns by the 'Superstate Admin Address', but not upgrades, pausing or the oracle.","checkedAt":"2026-10-25"}},"signersIndependent":{"status":"not_public","searchedAt":"2026-10-25"},"chains":[{"chain":"ethereum","mechanism":"native","provider":"Superstate","source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"Issued by Superstate on each chain; crosschain moves are an issuer burn and mint, not a third-party bridge.","checkedAt":"2026-10-25"}},{"chain":"solana, plume","mechanism":"native","provider":"Superstate","source":{"url":"https://docs.superstate.com/investors/smart-contracts","checkedAt":"2026-10-25"}}]},"transparency":{"reports":[{"name":"Chronicle Proof of Asset","provider":"chronicle","dataSource":"custodian","granularity":"position","frequency":"daily","verifiability":"cryptographic","onchain":true,"feed":{"chain":"ethereum","address":"0xDf8deCbDB89C95297ee6ef816Bd8A7B66973f254"},"source":{"url":"https://docs.chroniclelabs.org/Products/proofOfAsset/integratingPOAs/routers","note":"Router 0xDf8d…f254 is live; its age advanced about every 23.7h, weekends included (checked 2026-10-13).","checkedAt":"2026-10-25"}},{"name":"Superstate holdings page","provider":"superstate","dataSource":"issuer","granularity":"position","frequency":"unstated","verifiability":"self-reported","onchain":false,"source":{"url":"https://superstate.com/assets/ustb","note":"Line-item T-bill holdings, 'As of 09/21/2026' when checked on 2026-10-25.","checkedAt":"2026-10-25"}}],"eventReporting":{"status":"unknown","note":"Only asked for private credit."},"constraints":[]},"pricing":{"reference":{"type":"oracle","provider":"superstate","chain":"ethereum","address":"0xE4fA682f94610cCd170680cc3B045d77D9E528a8","writer":"eoa","dataOrigin":"fund-administrator","cadenceSeconds":86400,"businessDaysOnly":true,"read":{"value":{"fn":"function latestRoundData() view returns (uint80, int256, uint256, uint256, uint80)","args":[],"index":1},"updatedAt":{"fn":"function checkpoints(uint256) view returns (uint64, uint64, uint128)","args":["$value.0"],"index":1},"decimals":6},"historyOnchain":true,"source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"SuperstateOracle; owner EOA 0x4b1d…1395 posts one checkpoint per business day (NAV/S from NAV Fund Services). latestRoundData() extrapolates between checkpoints and returns the current block time as updatedAt, so freshness is read from checkpoints(roundId).effectiveAt. Each checkpoint may move at most maximumAcceptablePriceDelta ($1.00, about 9%); the oracle reverts if the newest checkpoint is over 5 days old.","checkedAt":"2026-10-13"}},"stalenessDetectable":{"value":false,"source":{"url":"https://github.com/superstateinc/onchain-redemptions/blob/5986d9b692aff3a333d6042361af0d31521a78f0/src/oracle/SuperstateOracle.sol","note":"SuperstateOracle extrapolates between checkpoints and returns the current block time as updatedAt. It only reverts once the latest checkpoint is 5 days old.","checkedAt":"2026-10-25"}},"lossRecognition":{"value":"next-nav","source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"One NAV checkpoint per business day.","checkedAt":"2026-10-25"}}},"exit":{"redemption":{"available":{"value":true,"source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","note":"USD wire, or USDC through the portal or onchain redeem on RedemptionIdle","checkedAt":"2026-10-13"}},"whoCanRedeem":{"value":"whitelisted-holders","source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","checkedAt":"2026-10-13"}},"settlement":{"status":"public","value":"T+0","source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","note":"USDC 'immediately (including non-business days, subject to available liquidity)'; USD same day if requested before 1pm ET","checkedAt":"2026-10-13"}},"gatesOrSuspension":{"status":"not_public","searchedAt":"2026-10-13","note":"Only 'subject to available liquidity' is public. Any further gates would be in the offering memorandum (portal only). The RedemptionIdle owner EOA 0x8cf4…0765 can pause it."}},"dealing":{"value":"continuous","source":{"url":"https://superstate.com/assets/ustb","note":"Immediate for USDC, same-day for USD.","checkedAt":"2026-10-25"}},"noticeDays":{"status":"public","value":0,"source":{"url":"https://superstate.com/assets/ustb","checkedAt":"2026-10-25"}},"lockupDays":{"status":"public","value":0,"source":{"url":"https://superstate.com/assets/ustb","note":"'liquidity each market day'; no lock-up stated.","checkedAt":"2026-10-25"}},"dailyCapUsd":{"status":"not_public","searchedAt":"2026-10-25","note":"USDC redemptions are 'subject to available liquidity'."},"minimumUsd":{"status":"not_public","searchedAt":"2026-10-25"},"feeBps":{"status":"public","value":0,"source":{"url":"https://etherscan.io/address/0x4c21b7577c8fe8b0b0669165ee7c8f67fa1454cf","note":"RedemptionIdle fee = 0","checkedAt":"2026-10-13"}},"liquidators":{"value":"allowlisted","source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","note":"Every transfer checks the allowlist. Aave Horizon holds USTB with permissioned liquidators.","checkedAt":"2026-10-25"}},"instant":[{"label":"Superstate RedemptionIdle (USDC)","chain":"ethereum","address":"0x4c21b7577c8fe8b0b0669165ee7c8f67fa1454cf","dailyCapUsd":{"status":"not_public","searchedAt":"2026-10-13"},"fundedUsd":{"status":"public","value":0.01,"source":{"url":"https://etherscan.io/address/0x4c21b7577c8fe8b0b0669165ee7c8f67fa1454cf","note":"USDC.balanceOf = 0.013862 at block 26,183,016.","checkedAt":"2026-10-13"}},"feeBps":0}]},"externalIds":{"defillama":"invesco-ustb","defillamaStablecoin":null,"rwaxyz":"USTB","coingecko":"superstate-short-duration-us-government-securities-fund-ustb"}},"rating":{"asset":"ustb","categories":{"underlying":{"category":"underlying","rating":"green","floor":"green","headline":"Short-dated government debt. No private borrower can cause a loss.","findings":[{"id":"underlying.government","color":"green","text":"100% is government debt, government repo or cash.","source":{"url":"https://superstate.com/assets/ustb","note":"Holdings table 'As of 09/21/2026': 35 U.S. Treasury Bills summing to 99.59% of the fund; the rest is cash.","checkedAt":"2026-10-25"},"category":"underlying"},{"id":"underlying.wam","color":"green","text":"Short-dated: the weighted average maturity is 87 days.","source":{"url":"https://superstate.com/assets/ustb","note":"Computed by RWAbeat from the 35 positions' maturities and weights on 2026-09-21 (86.6 days).","checkedAt":"2026-10-25"},"category":"underlying"}],"context":["Holdings on 2026-09-21: T-bills (35 positions) 99.6%, Cash 0.4%."]},"legal":{"category":"legal","rating":"not-assessed","headline":"Not assessed yet. Bankruptcy remoteness, what the token legally is, and holder rights need a legal review.","findings":[],"context":[]},"counterparties":{"category":"counterparties","rating":"green","floor":"green","headline":"Independent, regulated custodian and administrator, a recognized auditor, and no single point of failure.","findings":[{"id":"counterparties.custodian","color":"green","text":"Independent, regulated custodian: The Bank of New York Mellon (Federal Reserve and NYDFS).","source":{"url":"https://superstate.com/assets/ustb","note":"Custodian: The Bank of New York Mellon (replaced UMB Bank in March 2026; rwa.xyz still shows UMB).","checkedAt":"2026-10-25"},"category":"counterparties"},{"id":"counterparties.fund-administrator","color":"green","text":"Independent, regulated fund administrator: NAV Fund Services (NAV Consulting, Inc.) (CIMA).","source":{"url":"https://superstate.com/assets/ustb","note":"NAV calculation agent: NAV Fund Services","checkedAt":"2026-10-25"},"category":"counterparties"},{"id":"counterparties.auditor","color":"green","text":"Audited by PwC, a Big Four firm.","source":{"url":"https://superstate.com/assets/ustb","note":"Auditor: PricewaterhouseCoopers LLP (replaced Ernst & Young).","checkedAt":"2026-10-25"},"category":"counterparties"},{"id":"counterparties.rails","color":"green","text":"Settles by USD wire, USDC.","source":{"url":"https://superstate.com/assets/ustb","note":"Redemption timing: Same-day. Immediate for USDC; 1pm ET cutoff for USD.","checkedAt":"2026-10-25"},"category":"counterparties"}],"context":["Transfer agent: Superstate (issuer's group).","Investment manager: Invesco Advisers, Inc..","Transfer agent: Superstate Services LLC."]},"control":{"category":"control","rating":"red","floor":"red","headline":"A single key can replace the contract code.","findings":[{"id":"control.single-key.upgrade","color":"red","text":"A single key can replace the contract code.","category":"control"},{"id":"control.single-key.mint","color":"red","text":"A single key can create new tokens.","category":"control"},{"id":"control.single-key.burn-from","color":"red","text":"A single key can destroy tokens in any wallet.","category":"control"},{"id":"control.single-key.set-price","color":"red","text":"A single key can change the onchain price.","category":"control"},{"id":"control.single-key.allocate","color":"red","text":"A single key can move the assets backing the token.","category":"control"},{"id":"control.single-key.admin","color":"red","text":"A single key can grant or revoke every other role.","category":"control"},{"id":"control.single-key.freeze","color":"red","text":"A single key can freeze a holder's tokens.","category":"control"},{"id":"control.single-key.pause","color":"yellow","text":"A single key can pause all transfers.","category":"control"},{"id":"control.single-key.set-compliance","color":"yellow","text":"A single key can change who may hold the token.","category":"control"},{"id":"control.documented","color":"yellow","text":"The issuer doesn't document its admin powers; they're only visible onchain.","source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"Docs cover minting, allowlist changes and forced burns by the 'Superstate Admin Address', but not upgrades, pausing or the oracle.","checkedAt":"2026-10-25"},"category":"control"},{"id":"control.audit","color":"green","text":"Audited by 0xMacro (2025-07).","source":{"url":"https://0xmacro.com/library/audits/superstate-9","note":"Most recent of the 0xMacro reports that covers the USTB stack; reports 10 and 11 cover equity tokens.","checkedAt":"2026-10-25"},"category":"control"}],"context":["No public bug bounty.","Transfers are limited to allowlisted wallets."]},"transparency":{"category":"transparency","rating":"green","floor":"green","headline":"Independently sourced, position-level data, refreshed at a pace that fits the asset, and verifiable.","findings":[{"id":"transparency.verified","color":"green","text":"Chronicle Proof of Asset: cryptographically verifiable.","source":{"url":"https://docs.chroniclelabs.org/Products/proofOfAsset/integratingPOAs/routers","note":"Router 0xDf8d…f254 is live; its age advanced about every 23.7h, weekends included (checked 2026-10-13).","checkedAt":"2026-10-25"},"category":"transparency"},{"id":"transparency.independent","color":"green","text":"Data comes from the custodian, not the issuer.","source":{"url":"https://docs.chroniclelabs.org/Products/proofOfAsset/integratingPOAs/routers","note":"Router 0xDf8d…f254 is live; its age advanced about every 23.7h, weekends included (checked 2026-10-13).","checkedAt":"2026-10-25"},"category":"transparency"},{"id":"transparency.granularity","color":"green","text":"Every position is published.","source":{"url":"https://docs.chroniclelabs.org/Products/proofOfAsset/integratingPOAs/routers","note":"Router 0xDf8d…f254 is live; its age advanced about every 23.7h, weekends included (checked 2026-10-13).","checkedAt":"2026-10-25"},"category":"transparency"},{"id":"transparency.freshness","color":"green","text":"Updated daily, fast enough for a T-bill or money market fund.","source":{"url":"https://docs.chroniclelabs.org/Products/proofOfAsset/integratingPOAs/routers","note":"Router 0xDf8d…f254 is live; its age advanced about every 23.7h, weekends included (checked 2026-10-13).","checkedAt":"2026-10-25"},"category":"transparency"}],"context":[]},"pricing":{"category":"pricing","rating":"red","floor":"red","headline":"A single key types in the onchain price (manual pricing).","findings":[{"id":"pricing.manual","color":"red","text":"A single key types in the onchain price (manual pricing).","source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"SuperstateOracle; owner EOA 0x4b1d…1395 posts one checkpoint per business day (NAV/S from NAV Fund Services). latestRoundData() extrapolates between checkpoints and returns the current block time as updatedAt, so freshness is read from checkpoints(roundId).effectiveAt. Each checkpoint may move at most maximumAcceptablePriceDelta ($1.00, about 9%); the oracle reverts if the newest checkpoint is over 5 days old.","checkedAt":"2026-10-13"},"category":"pricing"},{"id":"pricing.staleness","color":"red","text":"Consumers can't tell from the feed when the price is stale.","source":{"url":"https://github.com/superstateinc/onchain-redemptions/blob/5986d9b692aff3a333d6042361af0d31521a78f0/src/oracle/SuperstateOracle.sol","note":"SuperstateOracle extrapolates between checkpoints and returns the current block time as updatedAt. It only reverts once the latest checkpoint is 5 days old.","checkedAt":"2026-10-25"},"category":"pricing"},{"id":"pricing.cadence","color":"green","text":"Updates every 24h, fast enough for a T-bill or money market fund.","source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"SuperstateOracle; owner EOA 0x4b1d…1395 posts one checkpoint per business day (NAV/S from NAV Fund Services). latestRoundData() extrapolates between checkpoints and returns the current block time as updatedAt, so freshness is read from checkpoints(roundId).effectiveAt. Each checkpoint may move at most maximumAcceptablePriceDelta ($1.00, about 9%); the oracle reverts if the newest checkpoint is over 5 days old.","checkedAt":"2026-10-13"},"category":"pricing"},{"id":"pricing.origin","color":"green","text":"The NAV comes from the fund administrator.","source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"SuperstateOracle; owner EOA 0x4b1d…1395 posts one checkpoint per business day (NAV/S from NAV Fund Services). latestRoundData() extrapolates between checkpoints and returns the current block time as updatedAt, so freshness is read from checkpoints(roundId).effectiveAt. Each checkpoint may move at most maximumAcceptablePriceDelta ($1.00, about 9%); the oracle reverts if the newest checkpoint is over 5 days old.","checkedAt":"2026-10-13"},"category":"pricing"},{"id":"pricing.losses","color":"green","text":"Write-downs show up at the next NAV.","source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"One NAV checkpoint per business day.","checkedAt":"2026-10-25"},"category":"pricing"}],"context":[]},"exit":{"category":"exit","rating":"unverified","floor":"yellow","headline":"The terms for suspending redemptions aren't public.","findings":[{"id":"exit.gates","color":"unknown","text":"The terms for suspending redemptions aren't public.","worstCase":"red","category":"exit"},{"id":"exit.cap","color":"unknown","text":"Any daily redemption cap isn't public.","worstCase":"yellow","category":"exit"},{"id":"exit.who","color":"yellow","text":"Only allowlisted holders can redeem.","source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","checkedAt":"2026-10-13"},"category":"exit"},{"id":"exit.liquidators","color":"yellow","text":"Only allowlisted liquidators can hold the token.","source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","note":"Every transfer checks the allowlist. Aave Horizon holds USTB with permissioned liquidators.","checkedAt":"2026-10-25"},"category":"exit"},{"id":"exit.liquidity","color":"yellow","text":"Instant liquidity is thin: $0.01 instant redemption.","category":"exit"},{"id":"exit.settlement","color":"green","text":"Redemption settles at T+0.","source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","note":"USDC 'immediately (including non-business days, subject to available liquidity)'; USD same day if requested before 1pm ET","checkedAt":"2026-10-13"},"category":"exit"}],"context":["Superstate RedemptionIdle (USDC): $0.01 available, no stated cap.","Top 10 wallets hold 83.9% of supply on ethereum."]}},"risks":[{"id":"control.single-key.upgrade","color":"red","text":"A single key can replace the contract code.","category":"control"},{"id":"pricing.manual","color":"red","text":"A single key types in the onchain price (manual pricing).","source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"SuperstateOracle; owner EOA 0x4b1d…1395 posts one checkpoint per business day (NAV/S from NAV Fund Services). latestRoundData() extrapolates between checkpoints and returns the current block time as updatedAt, so freshness is read from checkpoints(roundId).effectiveAt. Each checkpoint may move at most maximumAcceptablePriceDelta ($1.00, about 9%); the oracle reverts if the newest checkpoint is over 5 days old.","checkedAt":"2026-10-13"},"category":"pricing"},{"id":"control.single-key.mint","color":"red","text":"A single key can create new tokens.","category":"control"},{"id":"pricing.staleness","color":"red","text":"Consumers can't tell from the feed when the price is stale.","source":{"url":"https://github.com/superstateinc/onchain-redemptions/blob/5986d9b692aff3a333d6042361af0d31521a78f0/src/oracle/SuperstateOracle.sol","note":"SuperstateOracle extrapolates between checkpoints and returns the current block time as updatedAt. It only reverts once the latest checkpoint is 5 days old.","checkedAt":"2026-10-25"},"category":"pricing"},{"id":"control.single-key.burn-from","color":"red","text":"A single key can destroy tokens in any wallet.","category":"control"},{"id":"control.single-key.set-price","color":"red","text":"A single key can change the onchain price.","category":"control"},{"id":"control.single-key.allocate","color":"red","text":"A single key can move the assets backing the token.","category":"control"},{"id":"control.single-key.admin","color":"red","text":"A single key can grant or revoke every other role.","category":"control"},{"id":"control.single-key.freeze","color":"red","text":"A single key can freeze a holder's tokens.","category":"control"},{"id":"exit.gates","color":"unknown","text":"The terms for suspending redemptions aren't public.","worstCase":"red","category":"exit"},{"id":"exit.cap","color":"unknown","text":"Any daily redemption cap isn't public.","worstCase":"yellow","category":"exit"},{"id":"control.single-key.pause","color":"yellow","text":"A single key can pause all transfers.","category":"control"},{"id":"exit.who","color":"yellow","text":"Only allowlisted holders can redeem.","source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","checkedAt":"2026-10-13"},"category":"exit"},{"id":"control.single-key.set-compliance","color":"yellow","text":"A single key can change who may hold the token.","category":"control"},{"id":"exit.liquidators","color":"yellow","text":"Only allowlisted liquidators can hold the token.","source":{"url":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb","note":"Every transfer checks the allowlist. Aave Horizon holds USTB with permissioned liquidators.","checkedAt":"2026-10-25"},"category":"exit"},{"id":"control.documented","color":"yellow","text":"The issuer doesn't document its admin powers; they're only visible onchain.","source":{"url":"https://docs.superstate.com/investors/smart-contracts","note":"Docs cover minting, allowlist changes and forced burns by the 'Superstate Admin Address', but not upgrades, pausing or the oracle.","checkedAt":"2026-10-25"},"category":"control"},{"id":"exit.liquidity","color":"yellow","text":"Instant liquidity is thin: $0.01 instant redemption.","category":"exit"}],"stage":{"stage":0,"pendingLegal":false,"requirements":[{"id":"stage.holdings","stage":0,"text":"What the token holds is described publicly","status":"met"},{"id":"stage.parties","stage":0,"text":"Issuer, custodian, administrator and auditor are named","status":"met"},{"id":"stage.structure","stage":0,"text":"The legal structure is 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Large mints or burns usually match subscriptions or redemptions; check against reported AUM.","chain":"ethereum","contract":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","txHash":"0x6026a804f1cdce8758e254fcdebb1d0dc4dc4fa737d8d51e553acfe0790243b1","block":26256312,"publishedAt":"2026-10-23T15:46:23.000Z"},{"id":"ethereum-0x1e528efaebbaca6f4f125c6be114e24f8f2294de9c7d51605c8fb06e0af321fc-222","asset":"ustb","severity":"low","kind":"compliance-change","title":"USTB AllowlistV4: 0x3b38…d0E9 allowed","consequence":"Only allowlisted addresses can hold the token.","chain":"ethereum","contract":"0xBcBC2b4FB2AbE1C598C9ea91E0b03338e4728D1f","txHash":"0x1e528efaebbaca6f4f125c6be114e24f8f2294de9c7d51605c8fb06e0af321fc","block":26255573,"publishedAt":"2026-10-23T13:18:11.000Z"},{"id":"ethereum-0x1e528efaebbaca6f4f125c6be114e24f8f2294de9c7d51605c8fb06e0af321fc-223","asset":"ustb","severity":"low","kind":"compliance-change","title":"USTB AllowlistV4: 0x8E88…26EF allowed","consequence":"Only allowlisted addresses can hold the token.","chain":"ethereum","contract":"0xBcBC2b4FB2AbE1C598C9ea91E0b03338e4728D1f","txHash":"0x1e528efaebbaca6f4f125c6be114e24f8f2294de9c7d51605c8fb06e0af321fc","block":26255573,"publishedAt":"2026-10-23T13:18:11.000Z"},{"id":"ethereum-0x3faaa41e03fba886c546b8d6b4994d783de6e18f6d224fdac9f58bf811aa7f56-107","asset":"ustb","severity":"low","kind":"compliance-change","title":"USTB AllowlistV4: 0x8E88…26EF allowed","consequence":"Only allowlisted addresses can hold the token.","chain":"ethereum","contract":"0xBcBC2b4FB2AbE1C598C9ea91E0b03338e4728D1f","txHash":"0x3faaa41e03fba886c546b8d6b4994d783de6e18f6d224fdac9f58bf811aa7f56","block":26255572,"publishedAt":"2026-10-23T13:17:59.000Z"},{"id":"ethereum-0xe4a0693b3d594e3af0e71a0d9a7611eddb5326866fb03c4018ba0e15f21e34fe-604","asset":"ustb","severity":"medium","kind":"burn","title":"3,954,841 USTB redeemed on ethereum ($44.5M)","consequence":"8.4% of the ethereum supply. Large mints or burns usually match subscriptions or redemptions; check against reported AUM.","chain":"ethereum","contract":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","txHash":"0xe4a0693b3d594e3af0e71a0d9a7611eddb5326866fb03c4018ba0e15f21e34fe","block":26254877,"publishedAt":"2026-10-23T10:58:23.000Z"},{"id":"ethereum-0x4ea528fafd21a2befa58cd8cb694dd8b3571614ec3576cc65e9abe20363f29e4-727","asset":"ustb","severity":"medium","kind":"burn","title":"444,271 USTB redeemed on ethereum ($5.0M)","consequence":"0.9% of the ethereum supply. Large mints or burns usually match subscriptions or redemptions; check against reported AUM.","chain":"ethereum","contract":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","txHash":"0x4ea528fafd21a2befa58cd8cb694dd8b3571614ec3576cc65e9abe20363f29e4","block":26250636,"publishedAt":"2026-10-22T20:45:59.000Z"},{"id":"ethereum-0x5a97fbb76f9b72b8c3f4f6c767e2049450c9f94fdcc6ee828fe5a2032a1f6aa4-545","asset":"ustb","severity":"medium","kind":"mint","title":"1,332,825 USTB minted on ethereum ($15.0M)","consequence":"2.6% of the ethereum supply. Large mints or burns usually match subscriptions or redemptions; check against reported AUM.","chain":"ethereum","contract":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","txHash":"0x5a97fbb76f9b72b8c3f4f6c767e2049450c9f94fdcc6ee828fe5a2032a1f6aa4","block":26249957,"publishedAt":"2026-10-22T18:29:47.000Z"},{"id":"ethereum-0x82ccf2fc2be529617ae94af8e7d7b5ae50476710e08c99a428aa3e9e72f5c7ae-296","asset":"ustb","severity":"low","kind":"compliance-change","title":"USTB AllowlistV4: 0x3b38…d0E9 allowed","consequence":"Only allowlisted addresses can hold the token.","chain":"ethereum","contract":"0xBcBC2b4FB2AbE1C598C9ea91E0b03338e4728D1f","txHash":"0x82ccf2fc2be529617ae94af8e7d7b5ae50476710e08c99a428aa3e9e72f5c7ae","block":26242164,"publishedAt":"2026-10-21T16:26:47.000Z"},{"id":"ethereum-0x1e613377e3fd20b68236f1a764e3651bfe4be4e28c5aeb4482a122ddb3427e17-3412","asset":"ustb","severity":"low","kind":"compliance-change","title":"USTB AllowlistV4: 0xaDe7…642A allowed","consequence":"Only allowlisted addresses can hold the token.","chain":"ethereum","contract":"0xBcBC2b4FB2AbE1C598C9ea91E0b03338e4728D1f","txHash":"0x1e613377e3fd20b68236f1a764e3651bfe4be4e28c5aeb4482a122ddb3427e17","block":26228633,"publishedAt":"2026-10-19T19:11:47.000Z"},{"id":"ethereum-0x1db2211da1a35ad5a5626d838c573b6964226b3efa29e748c15bd2c6f8d10da1-1220","asset":"ustb","severity":"medium","kind":"burn","title":"1,337,000 USTB redeemed on ethereum ($15.1M)","consequence":"2.6% of the ethereum supply. Large mints or burns usually match subscriptions or redemptions; check against reported AUM.","chain":"ethereum","contract":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","txHash":"0x1db2211da1a35ad5a5626d838c573b6964226b3efa29e748c15bd2c6f8d10da1","block":26227579,"publishedAt":"2026-10-19T15:40:35.000Z"},{"id":"ethereum-0x4c3847b316d014cecedd605579a6087c425a646169a667ba2b2c24bfe0c62c63-616","asset":"ustb","severity":"medium","kind":"burn","title":"500,000 USTB redeemed on ethereum ($5.6M)","consequence":"0.9% of the ethereum supply. Large mints or burns usually match subscriptions or redemptions; check against reported AUM.","chain":"ethereum","contract":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","txHash":"0x4c3847b316d014cecedd605579a6087c425a646169a667ba2b2c24bfe0c62c63","block":26205933,"publishedAt":"2026-10-16T15:15:59.000Z"},{"id":"ethereum-0xdaeeca26ef073cf8a560a6c6d0bc8849eb75aac3b578c9fad2fdbef0746c7e14-580","asset":"ustb","severity":"medium","kind":"mint","title":"444,594 USTB minted on ethereum ($5.0M)","consequence":"0.8% of the ethereum supply. Large mints or burns usually match subscriptions or redemptions; check against reported AUM.","chain":"ethereum","contract":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","txHash":"0xdaeeca26ef073cf8a560a6c6d0bc8849eb75aac3b578c9fad2fdbef0746c7e14","block":26198686,"publishedAt":"2026-10-15T15:02:59.000Z"},{"id":"ethereum-0xdcc6845e976104db69f66af319532a7c119a5d30e6144e97c3783e437ac15c56-304","asset":"ustb","severity":"low","kind":"compliance-change","title":"USTB AllowlistV4: 0xdc38…4768 allowed","consequence":"Only allowlisted addresses can hold the token.","chain":"ethereum","contract":"0xBcBC2b4FB2AbE1C598C9ea91E0b03338e4728D1f","txHash":"0xdcc6845e976104db69f66af319532a7c119a5d30e6144e97c3783e437ac15c56","block":26192374,"publishedAt":"2026-10-14T17:55:59.000Z"},{"id":"ethereum-0xd8d8e93578f2f9772b500d50d5630fe670aba47962cc88e4a5c76bc02d482c9a-83","asset":"ustb","severity":"low","kind":"compliance-change","title":"USTB AllowlistV4: 0xdc38…4768 allowed","consequence":"Only allowlisted addresses can hold the token.","chain":"ethereum","contract":"0xBcBC2b4FB2AbE1C598C9ea91E0b03338e4728D1f","txHash":"0xd8d8e93578f2f9772b500d50d5630fe670aba47962cc88e4a5c76bc02d482c9a","block":26192373,"publishedAt":"2026-10-14T17:55:47.000Z"},{"id":"ethereum-0xeb978e1232ee16818ac1cf8c85d85ed5b1ab043ff84e771a5e5f691287a3f36d-847","asset":"ustb","severity":"medium","kind":"burn","title":"1,779,000 USTB redeemed on ethereum ($20.0M)","consequence":"3.3% of the ethereum supply. Large mints or burns usually match subscriptions or redemptions; check against reported AUM.","chain":"ethereum","contract":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","txHash":"0xeb978e1232ee16818ac1cf8c85d85ed5b1ab043ff84e771a5e5f691287a3f36d","block":26190663,"publishedAt":"2026-10-14T12:13:11.000Z"},{"id":"ethereum-0xbe3d5d64edabd4f414025197b57dc66786cc3c1bac0151dc63602a9478a18b1c-507","asset":"ustb","severity":"medium","kind":"mint","title":"711,461 USTB minted on ethereum ($8.0M)","consequence":"1.3% of the ethereum supply. Large mints or burns usually match subscriptions or redemptions; check against reported AUM.","chain":"ethereum","contract":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","txHash":"0xbe3d5d64edabd4f414025197b57dc66786cc3c1bac0151dc63602a9478a18b1c","block":26186463,"publishedAt":"2026-10-13T22:08:47.000Z"}]}