🔨 Paxos Lays Off 20%, Oasis Pro Launches AVAX Fund

🌴 Your Weekly Security Token Digest

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Goooood Morning, Rainmakers! ☀️

As always, we have two captivating topics for you to dive into:

1️⃣ 🔨 Paxos Lays Off 20% of Employees, Focuses on Tokenization

2️⃣ 📈 Oasis Pro Works with Issuer for Avalanche Fund: Rise & Shine Partners

Without further ado, it's time to…

Get Liquid 💧

Your First Captivating Topic of the Week

🔨 Paxos Lays Off 20% of Employees, Focuses on Tokenization

It’s never easy to let go of some of your team, however sometimes necessary. Paxos has led by example in laying off with 65 team members with resources while sticking firm to its new endeavor: the tokenization of real world assets.

Some may know Paxos as the issuer behind Pax Gold (tokenized gold), PYUSD (PayPal’s stablecoin), or on the infrastructure side as a qualified custodian. While Paxos has been a reputable name in the space with their current offerings, they aren’t blind to the fact that the tokenization of RWAs is the future and are pivoting accordingly.

This [layoff] allows us to best execute on the massive opportunity ahead in tokenization and stablecoins

Charles Cascarilla, CEO at Paxos

What did the 20% of their workforce receive?
According to an article, in return for their years of service Paxos’ ex-employees will be receiving:

  • 13 Weeks Severance Pay

  • 3 Months of Subsidized Health Insurance

  • Outplacement Support

  • Extension for Vested Options

  • 2nd-Quarter Bonuses for Quarterly-Incentivized Employees

Many companies lay off without much in severance packages, something Paxos took seriously and I commend them for.

Shifting focus to RWAs, Paxos will be phasing out of their settlement services. The company already has relationships with many firms in the web3 space and while some of their infrastructure could be repurposed, other parts may take some additional time and resources.

I’m curious to see what role they’re looking to play for RWAs although speculatively I’d assume somewhere along the lines of white-label issuance and custody.

This is not financial advice.

Your Second Captivating Topic of the Week

📈 Oasis Pro Works with Issuer for Avalanche Fund: Rise & Shine Partners

Avalanche has grown as a preferred blockchain for RWAs over the years, including being selected by multiple institutions for their Avalanche Subnets (permissioned instances). Rise & Shine Partners is launching the R&S Avalanche Infrastructure Fund via Oasis Pro, putting their money to work to invest in the Avalanche ecosystem and capitalize on its growth.

As a growing number of investors participate and invest in the Avalanche ecosystem, we want to ensure there are a variety of ways to enable access–both through traditional and Web3 rails–and this Fund represents a key example of just that.

Morgan Krupetsky, Head of Institutions & Capital Markets at Ava Labs

Investments from the $5M fund could consist of the native AVAX token, running validators to earn staking rewards, and a diverse portfolio of companies and applications integrated or building on Avalanche.

According to the Private Placement Memorandum (PPM) there’s a $100K minimum for interested investors and a traditional 2 and 20 structure to this fund. For anyone unfamiliar, this means 2% of the amount raised will be taken as a management fee and 20% of the profits will be allocated to the general partner AKA Rise & Shine Partners.

Who else is involved?

  • Custodian: Fireblocks LLC

  • Auditor: Akram & Associates PLLC

  • Administrator: NAV Consulting, Inc.

  • Legal Counsel: Riveles Wahab LLP

Interested in investing or learning more? 👇

Let them know What’s Drippin’ by Security Token Market sent you 😉 

This is not financial advice.

💦 What else is Drippin’


STM Monthly Report - April 2024

We're excited to release the April 2024 edition of our monthly report! In this month's report we have meticulously tracked over 554 security tokens spanning across 15 marketplaces and 10 blockchains.

Sections include:
👉 Key Takeaways
👉 Quantitative Highlights
👉 Asset Class Breakdown
👉 On-Chain Liquidity Products
👉 Platform Spotlight
👉 New Tokens and Announcements

State of Security Tokens 2023 - Q4 Report

We are very excited to publish our State of Security Tokens 2023 - Q4 report with our client and sponsor Blue Water Financial Technologies . Peter Gaffney and the Security Token Advisors team cover the following topics:

  • Key retail & institutional themes in the tokenization and real world assets space including:

    • Treasury, private credit, and real estate growth

    • Asset-Backed Securities (ABS) originations and securitizations

    • Investment banking platforms and digital bond placements

    • Global distribution channels & preferential jurisdictions

    • M&A and Investment Activity

  • Secondary Trading Activity (40+ graphs and charts from Security Token Market)

  • M&A and Investments

  • 50+ Service Provider Updates

  • Public and Private Blockchain Developments

This is not financial or investment advice.

TokenizeThis 2023: Highlights and Key Takeaways Report

We’re proud to have put together a free, 3-day event that resulted in shared insights valuable to both our retail and institutional audiences. That said, we recognize 3 days is a lot of content to take in so we did it for you!

Check out our report highlighting the key takeaways from the conference, quotes, and common themes across the panels.

Do you want your company or project in front of the largest, most curated security token audience on the planet?

If interested, please reach out to [email protected] to find out a way we can work together :)

Everything in this newsletter is for informational and entertainment purposes only. Nothing in this report should be taken as financial advice or as an inducement to purchase or sell any security. Nothing in this newsletter should be used as legal advice. Always do your own research before making any decisions regarding financial transactions of securities.