Institutional Alternative Funds

Ernst & Young LLP

Anchorage

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. Ownership in the Fund is recognized by an ERC-20 token, USCC, or book-entry recordkeeping. Subscriptions and redemptions are facilitated through USD or USDC, with liquidity available each market day. 

United States of America

NAV Consulting

SEC - U.S. Securities and Exchange Commission

"All underlying securities (spot digital assets, cash, and forwards) in the Fund are either held in a segregated custodial account in the name of the Fund at Anchorage Digital Bank N.A., the Fund’s Custodian, or maintained with the Fund's Prime Broker.
The Fund is bankruptcy-remote from Superstate Inc. and is organized as a Series in a Delaware Statutory Trust (DST), specifically the Superstate Asset Trust, which is wholly owned by the investors in the Fund."

Superstate Asset Trust

Superstate is an investment manager with US registered mutual funds that offers shares on the blockchain


Superstate

Superstate Crypto Carry Fund

"Shareholders can redeem Tokenized Shares by either calling the USCC token’s burn function or transferring tokens to the USCC token contract’s Ethereum address. Both actions effectively burn the tokens and submit a redemption request. For Book Entry Shares, redemptions can be initiated directly in the Investor Portal or by notifying the Investment Manager in writing.

Redemption requests received by 4:59 p.m. ET on a Market Day will typically be processed by the next Market Day’s open. Payments, in USD or USDC, can be expected after two or more Market Days.

The Investment Manager has the discretion to temporarily suspend redemptions or payments and may compel the redemption of Shares at any time, for any reason or no reason."

Software solutions will be available by a third-party to tokenize USD to USDC and redeem USDC for USD pursuant to the instructions set forth in the Investor Portal (the “USDC Services”). The Investment Manager expects to arrange for the USDC Services to be available to assist potential Shareholders in converting USDC to USD in connection with subscriptions and conversions of USD to USDC in connection with redemptions, each as described in the Investment Agreement.

Ethereum USCC

Ethereum

book_entry USCC

Off-Chain

"Investors receive monthly statements prepared by the Fund’s NAV calculation agent, NAV Fund Services (see example below). In addition, the Superstate Investor Portal gives investors transparency into their current balances, historical transactions, fund details, and securities holdings.
More helpful Fund statistics such as daily NAV/S, AUM, performance, and weekly holdings are publicly available at the following link, which investors can easily access at any time: superstate.co/uscc. We also provide unaudited monthly Fund financials available in the Investor Portal.
Superstate has performed two smart contract audits for USCC via ChainSecurity and Macro. The full audits are listed. Investors can read more about our audits and ongoing $100,000 bug bounty via the Knowledge Base here."

Network	Token Standard	Token Supply	Circulating Supply Login to Unlock	Bridged Supply Login to Unlock	Holders Login to Unlock	Monthly Active Addresses Login to Unlock	Monthly Transfer Volume Login to Unlock	Monthly Transfer Count Login to Unlock	Contract Address Login to Unlock
Ethereum	ERC-20	5,687,503.90 ▲	5,687,503.90 ▲	5,687,503.90 ▲	19 ▲	7 ▲	$16,093,762 ▲	17 ▲	0x14d...74020c
OOff-Chain	ERC-20	3,885,516.50 ▲	3,885,516.50 ▲	3,885,516.50 ▲	—	—	$0 △	0 △	—

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