Lowenstein Sandler represented Figment, one of the world’s largest blockchain infrastructure and services providers, in the execution of a first-of-its-kind staking-yield swap with FalconX, a digital assets and cryptocurrency platform for institutional investors.
A staking yield swap is similar to an interest rate swap: it offers an exchange of a fixed interest payment for a floating rate payment. In traditional interest rate swaps, the floating rate typically references a benchmark like SOFR, LIBOR or the Federal Funds Effective Rate, while a staking yield swap floating rate references the staking yield of a proof-of-stake token. The yield received is tracked within a blockchain wallet, has an immutable record, and can be viewed by anyone in possession of the public blockchain key.
The Lowenstein team included Boris Liberman and Matt Savare.
About Lowenstein Sandler LLP
Lowenstein Sandler LLP is a national law firm with over 350 lawyers based in New York, New Jersey, Palo Alto, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.
