Superstate is a tokenized U.S. Treasuries fund operating on Ethereum and Solana, offering direct on-chain exposure to government bonds. Usual is a stablecoin that redistributes protocol value to its holders, functioning as a yield-bearing stable asset. Superstate suits investors seeking regulated Treasury exposure in DeFi, while Usual appeals to users wanting a stablecoin that shares revenue.
| Token Price | — | — |
| 24h Change | — | — |
| Market Cap | — | — |
| TVL | $744.5MDefiLlama | $96.7MDefiLlama |
| MCap Rank | #81 | #935 |
| Total Raised | $96.5M | $18.5M |
| Founded | 2023 | 2022 |
| Stage | — | — |
| X / Twitter | 270 | 110K |
| GitHub Stars | — | — |
| Chains | ethereumplumesolana | basebnb-chainethereum |
| Tags | DeFi, RWA, DeFi | RWA, Stablecoin Protocol, DeFi |
Superstate issues USTB, an on-chain tokenized fund that invests in short-term U.S. Treasury and agency securities, targeting the federal funds rate with a 0.15% management fee. It enables qualified purchasers to subscribe and redeem using USDC, with daily NAV provided by NAV Consulting and compliant on-chain transfer through an Ethereum-based allowlist. The fund offers flexible custody options and is integrated into several ecosystems, including Solana, Ethereum, and Plume Network.
Usual is a DeFi protocol centered around USD0, a stablecoin backed by real-world assets, and its revenue token USUAL. It redistributes value generated by users through yields and protocol growth exposure.