Odaily News: Robert Leshner, the founder of Compound, has announced the establishment of a new company called Superstate, which has completed its seed funding round. The specific amount of funding has not been disclosed. ParaFi Capital, 1kx, Cumberland, CoinFund, and Distributed Global participated in this round of funding.



Superstate aims to create regulated financial products that connect traditional markets with the blockchain ecosystem. It will use the Ethereum blockchain as a supplementary record-keeping tool to create a short-term government bond fund. The team has submitted a preliminary prospectus for the Superstate Short-Term Government Bond Fund to the U.S. Securities and Exchange Commission on Monday.