UK markets open in 4 hours 30 minutes
  • NIKKEI 225

    28,603.85
    +361.64 (+1.28%)
     
  • HANG SENG

    29,548.48
    +685.71 (+2.38%)
     
  • CRUDE OIL

    52.33
    -0.03 (-0.06%)
     
  • GOLD FUTURES

    1,836.50
    +6.60 (+0.36%)
     
  • DOW

    30,814.26
    -177.24 (-0.57%)
     
  • BTC-GBP

    26,944.56
    -251.45 (-0.92%)
     
  • CMC Crypto 200

    720.00
    -15.14 (-2.06%)
     
  • ^IXIC

    12,998.50
    -114.10 (-0.87%)
     
  • ^FTAS

    3,798.30
    -5.45 (-0.14%)
     

KR1 plc - Investment: Tidal Finance

·2-min read

23 December 2020

KR1 PLC

(“KR1” or the “Company”)

Investment: Tidal Finance

KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that the Company has invested a total of US$200,000 in the Tidal Finance project in return for 222,222,222.22 Tidal (“TIL”) tokens. KR1 took part in Tidal Finance’s funding round alongside investors such as Hypersphere Capital and NGC Ventures.

Tidal is a decentralised insurance marketplace built on Polkadot, which allows users to create custom cover pools for digital assets. By rewarding pool creators with a portion of the return from deposits, Tidal maximizes capital efficiency and thereby attracts professional liquidity providers. In turn, the capital efficiency allows for more competitive offering of cover premiums, attracting potential buyers.

As a decentralised network, Tidal is governed entirely by TIL token holders through a DAO (Decentralised Autonomous Organisation) architecture with the TIL token capturing economic value generated from returns of cover pools.

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

“The current DeFi (Decentralised Finance) ecosystem is built on some key pillars that make it function, such as decentralised exchanges, lending markets and stablecoins, as well as marketplaces for protection against various kinds of risk. Tidal is perfectly positioned to capture market share as an important service for managing risk and, over time, become a central part of Polkadot’s emerging DeFi sector. We are very excited to be involved at such an early stage with a project building on the core principles of DeFi, with its focus of community involvement, decentralised governance and sharing in the success of the platform.”

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
Allie Feuerlein

(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

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.