1 October 2020
("KR1" or the "Company")
Investment: Moonbeam Network
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that the Company has invested a total of US$100,000 in the Moonbeam Network project. KR1 took part in Moonbeam’s seed funding round alongside Hypersphere Capital and HashKey Group and will receive a yet-to-be-determined amount of Glimmer (“GLMR”) tokens that will power Moonbeam’s blockchain.
Moonbeam is an Ethereum compatible smart contract platform on the Polkadot network and is a new, powerful, scalable blockchain that makes it easy to build interoperable decentralised applications (“dApps”) that can integrate and run in parallel with other blockchains, including Ethereum and Bitcoin. The Ethereum compatibility allows developers to deploy existing Ethereum smart contracts to Moonbeam with minimal changes. As a Polkadot ‘Parachain’, Moonbeam will benefit from the shared security of Polkadot and integrations with other chains that are connected to Polkadot.
Moonbeam is being led by Derek Yoo and his experienced team at PureStake, who provide the protocol implementation for Moonbeam. The project is currently in active development and is expected to reach mainnet by mid-2021.
Derek Yoo, CEO of PureStake and Founder of Moonbeam, commented:
“KR1 has a strong track record of investing in Web3 technology that moves the industry forward, from Ethereum and Polkadot's early days to the DAOs and DeFi platforms emerging today. We're happy to join their portfolio of investments and welcome their valuable insight as we continue to build and grow the Moonbeam smart contract platform to deliver Ethereum interoperability and compatibility with Polkadot."
Keld van Schreven, Managing Director and Co-Founder of KR1, commented:
“We’ve seen incredible growth in smart contracts on Ethereum and now, with the launch of Moonbeam, we expect to see high growth rates and developer engagement. Moonbeam represents the best of all the learning of Ethereum smart contracts on a super quick secure blockchain built within Polkadot. The potential for powerful new types of new DeFi applications and services is really limitless. Derek is an experienced hand steering the ship and we have great faith in him and his team.”
For further information please contact:
Peterhouse Capital Limited
(AQSE Corporate Adviser)
Nominis Advisory Ltd
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 (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.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.