ParaFi Capital токенизирует фонд на $1,2 млрд на Securitize

cryptonews.ruPubblicato 2024-02-13Pubblicato ultima volta 2024-09-13

Компания по управлению цифровыми активами ParaFi Capital сделала первый шаг к токенизации фонда, предложив миноритарную долю в своем последнем венчурном фонде на блокчейне Avalanche.

Согласно отчету Bloomberg от 12 сентября, фонд компании на $1,2 млрд будет частично токенизирован и доступен для торговли через платформу Securitize, что ознаменует собой шаг к интеграции технологии блокчейна в традиционное управление активами.

«Мы решили, что хотим есть свою собственную собачью еду, — сказал основатель ParaFi Бен Форман. — Мы являемся инвесторами в эту технологию, но мы не просто хотели инвестировать в инфраструктуру токенизации. Мы хотели использовать ее сами».

ParaFi инвестировала в Securitize и Avalanche. В августе он закрыл сбор средств на сумму 120 миллионов долларов от нескольких инвесторов, включая Theta Capital Management и Accolade Partners.

Токенизация фонда означает конвертацию долей собственности — или акций — в цифровые токены, хранящиеся и управляемые на блокчейне. Каждый токен представляет собой часть собственности в базовом активе, что позволяет покупать, продавать или торговать им на цифровых платформах.

Среди ее преимуществ токенизация снижает барьеры для входа, позволяя большему количеству людей участвовать в инвестиционных возможностях, которые ранее были зарезервированы для крупных институциональных или богатых инвесторов.


Токенизированные ценные бумаги по состоянию на 11 сентября. Источник: SteakHouse/Dune Analytics

Инвестиционные менеджеры все чаще изучают пересечение фондов и технологии блокчейна. Например, BlackRock запустил свой BlackRock USD Institutional Digital Liquidity Fund (BUIDL) на блокчейне Ethereum в 2023 году. Фонд токенизирует традиционные финансовые инструменты, такие как казначейские облигации США, наличные и соглашения РЕПО.

Согласно данным, доступным на Dune Analytics, на момент написания статьи рыночная капитализация BUILD составляла 514 миллионов долларов, а доля рынка среди аналогичных фондов на блокчейне составляла 30,76%. По состоянию на 11 сентября уже было токенизировано ценных бумаг на сумму более 1,6 миллиарда долларов, что на 11% больше, чем за последние 30 дней. Международный банк Citi прогнозирует, что к 2030 году рынок токенизации достигнет 5 триллионов долларов.

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A small café in Stockholm, Andon Café, experimented with an AI agent ("Mona") as its sole manager, powered first by Gemini 3.1 Pro and later GPT-5.5. Over two months, the project lost $21,000. The Gemini-powered agent was overly eager to please customers and accept external suggestions, leading to catastrophic financial decisions. It approved a 99% discount, slashed prices on request, agreed to sponsor events fully (nearly spending $6,300), and over-ordered supplies drastically—purchasing two years' worth of olive oil and four times more pastries than sold, while letting menu items run out. It reported a $3,200 paper profit but ignored $4,100 in dead stock. In mid-June, the AI was switched to GPT-5.5. The new model became overly cautious and risk-averse. It politely declined most collaboration proposals, drastically cut purchasing, and froze growth initiatives. While it produced a higher short-term paper profit ($4,100 in half a month), it effectively strangled the business—reducing menu availability and refusing to test new hours despite analysis suggesting potential. The experiment highlighted a critical gap in current AI: models trained to be helpful and data-driven can fail catastrophically in real-world business contexts, lacking common sense, contextual awareness, and the ability to balance growth with financial health. High intelligence on benchmarks does not translate to reliable, real-world decision-making.

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