Superstate
Total Value Locked$915.23m
TVL by Chain
Ethereum$888.78m
Plume Mainnet$25.45m
Solana$1.01m
Key Metrics
Fees (Annualized)$25.21m
Fees 30d$2.07m
Fees 7d$515,289
Fees 24h$93,142
Cumulative Fees$15.66m
Revenue (Annualized)$3.93m
Revenue 30d$322,478
Revenue 7d$61,553
Revenue 24h$9,273
Cumulative Revenue$1.3m
Protocol Information
The Superstate Crypto Carry Fund (the “Fund”) offers Qualified Purchasers access to crypto basis (differential between the spot and future price) strategies. The Fund optimizes the yield and risk of crypto cash-and-carry trades across the Bitcoin basis, Ether basis (including staking Ether), and U.S. Treasury securities.
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Superstate USTB: Total Yields from RWA YieldsView code on GitHubSuperstate USCC: Total Yields from Superstate USCC basis tradingView code on GitHub
Revenue:
Superstate USTB: 0.15% Annual Management fee collected by superstateView code on GitHubSuperstate USCC: 0.75% Annual Management fee collected by superstateView code on GitHub
Income Statement for Superstate
| Q4 2025* | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | |
|---|---|---|---|---|---|---|
| Fees | $4.83m | $10.12m | $555,998 | $101,022 | $47,894 | $0 |
| Revenue | $712,169 | $412,235 | $168,064 | $6,969 | $0 | $0 |
| Earnings | $712,169 | $412,235 | $168,064 | $6,969 | $0 | $0 |