UK Markets close in 3 mins

KR1 plc - Investment: Minterest

·2-min read

17 September 2021

KR1 plc

("KR1" or the "Company")

Investment: Minterest

KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that the Company has invested a total of US$350,000 into Minterest (“MNT”), in return for a yet-to-be-determined amount of MNT tokens. KR1 invested alongside respected investors such as Digital Finance Group and CMS Holdings.

Minterest is an innovative borrowing and lending protocol, built by industry leaders to service the continuously growing decentralised finance ecosystem, with the specific aim of putting user benefits at its core. Operating its own on-chain liquidation and buyback mechanisms, the Minterest protocol automatically distributes the value it captures from interest rate, flash loan and liquidation fees, to users. The protocol also features a buyback mechanism, allowing users to receive protocol revenue in addition to underlying borrow and lending rates, which creates competitive long-term yields.

George McDonaugh, Managing Director and Co-Founder of KR1, commented:

“The decentralised finance ecosystem is expanding at a rapid pace, thus it is important to always be pushing the envelope and improving in order for DeFi to move truly mainstream. Minterest has engineered a great long-term model because everyone gets their fair share of the rewards the protocol generates.”

The Directors of KR1 plc accept responsibility for this announcement.

--ENDS--

For further information please contact:

KR1 PLC
George McDonaugh
Keld van Schreven
Simon Nicol


+44 (0)16 2467 6716

simon@KR1.io

Peterhouse Capital Limited
Mark Anwyl

(AQSE Corporate Adviser)
+44 (0)20 7469 0930

Nominis Advisory Ltd
Angus Campbell

(PR Adviser)
pr@KR1.io

About KR1 plc

KR1 is a leading digital asset investment company supporting early-stage decentralised and open source blockchain and DeFi projects. Founded in 2016 and publicly traded in London on the Apex segment of the AQSE Growth Market (KR1: AQSE), KR1 has built a notable reputation for generating significant returns by investing in many key projects that are designed to power the decentralised platforms and protocols that are emerging to form new internet infrastructures.

www.KR1.io

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting