Liquidity depth per major asset
Superstate's assessment for RD-F-065 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
No open DEX liquidity pools for USTB or USCC (permissioned, AllowList-gated — not tradeable on public markets). Primary exit is on-chain redemption: USTB via RedemptionIdle contract (USDC, immediate when liquidity available; otherwise T+1 USD wire); USCC via offchainRedeem() (T+1 if before 5pm ET, T+2 after). Morpho Steakhouse USDC RWA Vault and Aave Horizon accept USTB/USCC as collateral (borrowing-against, not direct secondary liquidity). USCC staked ETH (EtherFi eETH) and staked SOL components add unstaking queue risk for full-portfolio liquidation. Secondary market DEX depth = effectively zero; primary redemption mechanism is functional but carries T+1/T+2 latency and USCC basis-trade mark-to-market NAV risk during exit window.
Sources #
- DocsSuperstate docs full text — redemption mechanicsUSTB: redemptions processed immediately when USDC liquidity available; USD same day if before 1pm ET else T+1. USCC: T+1 if before 5pm ET, T+2 after. No minimum redemption amount. RedemptionIdle contract holds USDC pool.retrieved 2026-05-16
- Superstate USCC fund pageUSCC fund page: subscriptions and redemptions facilitated through USD or USDC with liquidity each market day; 30-day yield 4.46%; Anchorage Digital custodianretrieved 2026-05-16
- Aave Horizon Launch — Aave blogAave Horizon launch: USTB and USCC accepted as RWA collateral; borrowing-against route (not spot secondary market)retrieved 2026-05-16
Methodology #
Measure on-chain liquidity depth for protocol-held assets at 2% and 5% price impact in USD.
See the full factor methodology and distribution across all protocols →