Monat: April 2024

• Bitfinex Securities is El Salvador’s pioneer in digital asset provision.
• The issuance aims to raise $6.25 million and it offers a 10% coupon over a five-year period,
• The minimum investment that an investor can make is $1,000.

Bitfinex Securities, in collaboration with Inversiones Laguardia S.A. de C.V., has launched a tokenized debt offering under the ticker HILSV to raise $6.25 million for the construction of the Hampton by Hilton Hotel at El Salvador International Airport.

The issuance, facilitated by the Liquid Network, a Bitcoin sidechain, allows investors to participate in the project by trading HILSV tokens against the U.S. dollar and Tether (USDT) stablecoin.

The tokenized debt carries a 10% coupon over a five-year term, providing investors with an opportunity to earn returns while contributing to the development of El Salvador’s tourism infrastructure.

The initiative, enabled by El Salvador’s Digital Asset Securities Law, signifies a pivotal moment in democratizing access to investment opportunities in the region’s burgeoning digital asset market.

The economic impact

The construction of the Hampton by Hilton hotel complex, spanning 4,484 square meters and featuring 80 rooms, commercial spaces, and amenities such as a pool and gym, is expected to generate approximately 1,000 jobs during the construction phase.

Furthermore, upon completion, the operational phase is projected to create up to 5,000 direct and indirect employment opportunities, providing a significant boost to El Salvador’s job market and economy.

The entire project exemplifies the transformative potential of blockchain technology in driving economic growth and fostering tourism development. By harnessing the power of digital assets, this initiative not only expands investment opportunities but also catalyzes job creation and infrastructure development in the region.

The post Bitfinex introduces tokenized debt for El Salvador’s first Hampton by Hilton Hotel appeared first on CoinJournal.

• Ethena (ENA) price reached highs of $1.49, surging more than 18% in 24 hours as most altcoins struggled.
• Bullish sentiment amid new staking rewards for ENA holders could push ENA price higher.

Ethena (ENA) traded to highs of $1.49 on Wednesday, its all-time high that sees the recently launched crypto project rising towards the top 50 cryptocurrencies by market cap.

According to data from CoinGecko, Ethena ranked 58th largest with a market cap of over $2.07 billion. The token’s value was around $1.45 at the time of writing, 18% up in the past 24 hours and nearly 30% up this past week.

Why is Ethena price surging today?

Today’s gains for ENA came as Bitcoin hovered near a key level following recent declines. Top altcoins also dropped as the crypto market mirrored stocks, with major US indices slipping amid hit CPI data and US President Joe Biden’s comments on interest rate cuts.

While BTC, ETH and other tokens struggled, ENA price benefitted from a spike in staking. Ethena (ENA) is the native token of Ethena Labs, a synthetic dollar protocol on Ethereum. USDe is a yield bearing stablecoin.

An announcement earlier this week of increased reward for stakers looks to have spurred activity, including from top Ethena whales. On Wednesday, Ethena Labs announced integration with top exchange wallets, including Binance Web3, Bybit, OKX Wallet and Bitget Wallet.

Users who lock up their USDe for a minimum of 7 days via any of these exchange Web3 wallets will be eligible for a 20% boost on their reward.  

On Monday, the protocol rolled out its “Season 2” staking rewards, with users locking 50% or more of their tokens will be eligible to a 50% boost to their reward.

Today we introduce $ENA into Season 2 in order to more closely align the growth in USDe with $ENA

Users who lock $ENA at a minimum of 50% of their total USDe holdings per wallet will receive

i) 50% increase in their rewards
ii) the highest number of rewards per day of any pool pic.twitter.com/zxVmpGZSN6

— Ethena Labs (@ethena_labs) April 8, 2024

According to on-chain data shared by Lookonchain, multiple whales have withdrawn millions of ENA from exchanges and staked since the announcement of Season 2 rewards.

Ethena recently unveiled a 750 million ENA airdrop for its community.

The post Ethena price reaches new all-time high: Here’s why ENA is surging appeared first on CoinJournal.

• STEPN distributes 100 million FSL Points to users.
• The airdrop aims to reward loyal community members and fuel engagement within the STEPN ecosystem.
• STEPN is also expected to announce a partnership with a leading global sports brand soon.

According to a post on X, Move-to-earn lifestyle app, STEPN, has completed an extensive airdrop campaign, allocating 100 million FSL Points to its user base, valued at $30 million.

The initiative, unveiled ahead of an impending partnership with a renowned sports brand, marks a pivotal moment for the Solana-based move-to-earn platform.

FSL points redeemable at 1:1 ratio for GMT tokens

The recently completed airdrop is the second airdrop marking the end of our STEPN Trailblazer event, which is the third one since 2022. The airdrop aimed at incentivizing user engagement and fostering loyalty within the STEPN community.

Users will have the opportunity to claim FSL Points, redeemable at a 1:1 ratio for STEPN’s native GMT token, enhancing their participation in upcoming mints and exclusive rewards.

Commenting on the initiative, Shiti Manghani, CEO of STEPN by FSL, expressed gratitude towards the community, highlighting the importance of prioritizing loyal members and offering them exclusive access to upcoming developments within the ecosystem.

The airdrop campaign was divided into two phases: Phase 1 targeted STEPN badge holders, incentivizing achievements completed within the app, while Phase 2 focused on rewarding Genesis Sneakers holders, with higher rewards allocated to the most dedicated users.

Recipients of FSL Points are encouraged to claim their rewards by the end of April, contingent upon signing up for an FSL ID, facilitating seamless interaction and reward earning within the STEPN ecosystem.

Integrating STEPN, MOOAR, and Gas Hero within the FSL ID platform enhances user engagement and streamlines the reward process.

As crypto enters a new market cycle and mainstream interest in fitness solutions grows, STEPN remains at the forefront of bridging the gap between Web2 and Web3 technologies.

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