Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx
The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...
Crypto App Ejara Announces Tokenized Treasury Bonds To Be Deployed On The Tezos Blockchain
Ejara is about to offer its users the possibility to invest in government bonds, something that was not feasible for the average investor until now.
By: Lee Evans
16 September 2022
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Ejara is a blockchain-based mobile investment platform that enables users to securely buy, sell, exchange, and store their crypto investments.
Even though there has been no marketing budget deployed so far, Ejara has seen healthy growth since they started about a year ago. The app currently has over 8,000 users from Cameroon, Ivory Coast, Burkina Faso, Mali, Guinea, and Senegal.
Ejara is about to offer its users the possibility to invest in government bonds. Something that was not feasible for the average investor until now.
“While the purchase of government bonds today represents a low-risk, high-return opportunity, access to these financial products remains difficult for individuals.
This reality is more noticable in the CEMAC zone where individuals hold only 1% of the outstanding debts in circulation against 80% for banks“.
Ejara makes it possible for anyone, including the low-income population, to access a market that is traditionally inaccessible for the average investor.
Bonds are fractionalized as tokens and can be bought in low-value quantities.
“The treasury bonds are backed by the Central bank but each one is worth 15$ or 1500$ and usually you have to buy at least 150,000$ to even get a chance to enter this market.
We are tokenizing it in fractions of 1.5$ to enable mainstream access.” – Nelly Chatue Diop (CEO and Co-Founder of Ejara)
Tezos blockchain
The large value bonds are tokenized and fractionalized on the Tezos blockchain. That means that a single bond can be divided into several tokens.
This way a bond of 100USD for example, can be sold as 100 tokens of 1USD.
Since this is done on the Tezos blockchain, everything can be registered and all regulations necessary can be enforced through fixed restrictions that are included in the smart contracts involved.
Basically, this is how it works:
1) Ejara as a company, bought Treasury Bonds through a regulated Asset management entity on the market.
2) These sovereign bonds are guaranteed by the local central bank (For example the Bank of Central African States, the BEAC).
3) Ejara tokenized these Bonds on Tezos Blockchain.
After this process has been completed, small fractions of Treasury Bonds can be traded.
Buying and selling small value tokens can be simply done on the Tezos blockchain, because transaction costs are minimal.
The Tezos blockchain is slowly but surely revolutionizing the blockchain industry by achieving goals such as low transaction costs, high transaction speed, and the capacity to scale towards high amounts in transaction capacity. All without the need to sacrifice decentralization.
No dev backdoors through multi-sig access to protocol level code, no limited number of nodes or selection of nodes, pure decentralization. Tezos is the perfect blockchain to deploy these types of financial products on.
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Complete the submission form, which includes fields for your name, contact information, a short author bio, and the title of your article. Submit your Word document as a word doc file. If you encounter any issues during the submission process, please contact our support team for assistance at [email protected]. We encourage all aspiring contributors to read and understand our submission guidelines and editorial policy before submitting.
Etherlink, the Tezos blockchain’s latest Layer 2 solution, is set to redefine the landscape of decentralized applications (DApps) with its upcoming mainnet launch in March 2024. This EVM-compatible, optimistic rollup distinguishes itself from other external Layer 2 platforms like Arbitrum, Optimism, and Polygon, due to its unique enshrinement within the Tezos blockchain.
Starting on December 6 with an exhibition, panels and performances at the Nautilus Hotel, curatorial platforms, partners and marketplaces from around the world will co-curate contemporary digital art minted on Tezos. Over 50 works will be shown, ranging from historical pieces to contemporary editions sold during the event, with a portion of the proceeds going to the Trevor Project, an American nonprofit organisation raising funds for suicide prevention amongst LGBTQ+ youth.
The Tezos Foundation announces its support for the Vigicard project, the first mobile application improving the monitoring of patients subject to drug allergies. Based on Tezos blockchain technology, the application was co-developed by a team of Europe-renowned allergists from Montpellier University Hospital, and Web3 experts Codinsight.
