KR1 plc - Investment: Equilibrium
PR Newswire
London, April 12
12 April 2021
KR1 PLC
("KR1" or the "Company")
Investment: Equilibrium
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that the Company has invested a total of US$250,000 into Equilibrium ("EQ"), in return for 595,238 EQ tokens. KR1 invested alongside respected investors such as Hypersphere Ventures and CMS Holdings.
Equilibrium is a decentralised interoperable money market built on Polkadot. The project attempts to solve the fragmentation issue of DeFi across multiple protocols and addresses the absence of cross-chain interoperability. As a product, Equilibrium combines a lending platform with a professional-grade cross-chain decentralised exchange, stablecoins, synthetic assets, margin trading, and perpetual swaps in one easy interface.
Alex Melikhov, CEO and Co-Founder of Equilibrium, commented:
"In the latest round, we were seeking value-add partners rather than just investors. We are excited to have KR1 on board as they are one of the most reputable and established crypto funds in the ecosystem. Given the coming parachain auctions on Kusama and Polkadot, you simply cannot get there without support from some of the influential players."
Keld van Schreven, Managing Director and Co-Founder of KR1, commented:
"Equilibrium has a bold vision of how a next generation DeFi platform should look like. Using Polkadot as its base layer, we are excited about Equilibrium's potential to unlock and expand DeFi to an as yet untapped range of digital assets. As a new place to lend, borrow, trade and stake digital assets, it is going to be a major player in the ecosystem, and we are very excited to support Alex and his team on their journey."
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
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).
