Abra Partners with Praxis, Announces Platform to Enable Tokenization and DeFi for Network States
September 20 2024 - 9:04AM
Business Wire
Abra, a global platform for digital asset services, today
announced it has partnered with Praxis, the first network state, to
collaborate on real world asset tokenization, as well as DeFi
services to network states, including those created on the Praxis
platform. This partnership marks the launch of Abra’s new Digital
Asset Solutions initiative.
Network states build their population, community, and
institutions initially online, crowdfunded with cryptocurrencies,
to cultivate a shared way of life and a vision for the future.
Next, they coalesce neighborhoods, and build new cities. Today,
Praxis has thousands of Citizens from dozens of countries who have
built technology companies worth over $400B. Praxis is backed by
funds including Paradigm, Bedrock, and angels including Shervin
Pishevar, Sam Altman, Joe Lonsdale, and Balaji Srinivasan.
Praxis and Abra intend to create an on-chain database of real
estate, businesses, citizenship, contracts, marketplaces, and other
on-chain DeFi (decentralized financial) services that interact
seamlessly with both online communities and physical cities.
While details of Abra’s new Digital Asset Solutions initiative
will be released in the coming weeks, Abra intends, as part of this
initiative, to provide a tokenization and DeFi platform for
network states and cities created on the Praxis platform. This
platform will enable:
- Tokenization of physical assets, including land and real
estate.
- Issuance of tokens representing membership or citizenship, land
ownership and governance within the network states.
- Integration of governance frameworks that allow for
decentralized decision-making.
- Opportunities for earning yield through DeFi protocols.
- Lending services, allowing members to lend their assets and
earn interest.
- Facilitation of payments and execution of transactions for
various asset types.
Abra intends to extend its asset management platform to
tokenized land purchases, including:
- Bitcoin and Ethereum-backed loans: Loans secured by Bitcoin and
Ethereum holdings to finance the acquisition of tokenized assets
within network states.
- Real estate token-backed loans: Loans collateralized by
tokenized real estate within the network states.
Bill Barhydt, CEO of Abra, said: “As the network state enters a
new phase of viability, catalyzed by the decline of massive
centralized global systems of governance, Praxis and Abra have the
opportunity to take a leadership role by creating a decentralized
platform owned by the people enabling individual members,
businesses, developers, and governments to build capital and
reputation across both competing and cooperating network states.
We’re therefore extremely excited to be partnering with Praxis to
participate in enabling tokenization and DeFi-based financial
services to network states and support Praxis as it works towards
ultimately enabling physical cities representing network
states.”
Shervin Pishevar recently joined Abra as Co-Chairman, is a
Praxis Advisor, as well as Co-founder of Sofreh Capital and
EdisonAlpha, and one of the founders of the new cities network
state movement. Regarding the Abra and Praxis partnership Shervin
commented, “As a globally recognized leader in the digital asset
markets and a strong believer in the decentralization movement,
Abra was naturally the right partner for Praxis. Bill and the Abra
team are pioneers when it comes to creating novel crypto services,
which aligns with our shared vision for how we take network states
and Praxis to the next level. We are excited about the potential of
this partnership to transform the way network states operate and
are financed, and we believe this partnership will accelerate the
network state movement and deliver immense value to both parties
and the communities we serve.”
Dryden Brown, founder of Praxis recently wrote, “Early Network
States … will create real value through their crypto-native
economic infrastructure, earning respect and legitimacy by solving
problems that traditional Nation States struggle to address –
whether in financial access, public services, property rights, or
governance innovation. This incremental approach is aligned with
the historical evolution of crypto itself: from a fringe technology
to an asset class respected by institutional investors.” He added,
“Abra wholeheartedly embraces and embodies the network state vision
and we’re excited to partner with them to make this vision a
reality.”
About Abra
Abra is a global platform for digital asset prime services and
wealth management, leveraging trusted DeFi expertise to connect the
on-chain and off-chain ecosystems for private clients and
institutions. By integrating trading, borrowing, lending, yield
services and asset management into one offering, all underpinned by
institutional risk management, Abra provides clients with
actionable insights and a competitive edge. Abra’s client base
includes a diverse range of private clients, family offices, hedge
funds, venture capital and crypto infrastructure firms.
https://www.abra.com/. More information about Abra Capital
Management LP, including our Form ADV Part 2A Brochure, is
available at the SEC’s website, http://www.adviserinfo.sec.gov.
About Praxis
Praxis is building the world’s first Network State: a global
online community with a national consciousness, developing a shared
way of life, governing institutions, and crowdfunding a physical
city. Praxians live in over 82 countries and have founded companies
worth over $400B. Praxis is a home for the brave, who strive for
virtue and wisdom. Our purpose is to restore Western Civilization
and pursue our ultimate destiny of life among the stars.
INFORMATION IN THIS RELEASE IS FOR INFORMATIONAL PURPOSES
ONLY AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE. This
release is not intended to be (and may not be relied on in any
manner as) legal, tax, investment, accounting or other advice or as
an offer to sell or a solicitation of an offer to buy any
securities or any investment product or any investment advisory
service. Past performance is not indicative
of future results or a guarantee of future returns.
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