KR1 plc - Investment: RedStone Finance
PR Newswire
London, July 29
29 July 2021
KR1 PLC
("KR1" or the "Company")
Investment: RedStone Finance
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 into the RedStone project, in return for a-yet-to-be determined amount of RedStone tokens. KR1 invested in this first RedStone financing round, led by Maven 11 and joined by other prominent investors such as 1kx and Bering Waters.
RedStone is a next-generation cross-chain data oracle technology that offers fast and cost-efficient access to data, a full historic audit trail and an insurance-backed decentralised dispute mechanism, that provides users with recourse in the event of inaccurate data provision. The project utilises permanent and affordable storage of the Arweave blockchain to keep data and track reputation, while integrating with a range of EVM-compatible chains such as Ethereum, Avalanche or Polygon, where the majority of all decentralised finance activity takes place.
Jakub Wojciechowski, CEO and Founder of RedStone Finance, commented:
"DeFi has experienced a colossal expansion, yet the oracle technology is lagging behind with the infrastructure created years ago. RedStone is looking to fill that gap by offering fast, cost-efficient and convenient tools for providing data to blockchain protocols. I am privileged to be surrounded by a group of very experienced investors who can help RedStone to reach its full potential."
George McDonaugh, Managing Director and Co-Founder of KR1, commented:
"RedStone stands out in the crowded world of blockchain oracle solutions in providing a real edge with regards to cost savings, latency, auditability and insurance. We are already seeing the project starting to gain traction and we are thrilled to fund Jakub and his team in his new endeavour."
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).
