29 April 2020
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Portfolio Company Update: IOV Labs Ltd
and hosting of online Crypto Investor Webinar
London, UK, 29 April 2020 - Coinsilium Group Limited (AQSE:COIN), the blockchain technology venture builder, advisor and investor, is pleased to provide an update in respect of portfolio company IOV Labs Ltd ("IOV Labs"). Coinsilium's investment interest in IOV is represented by 1,951,846 vesting RIF tokens.
As announced on 19 November 2018, Coinsilium's shareholding of 65,000 series Seed 1 RSK shares was converted to RIF tokens by way of a 'share for token' swap.
Money on Chain launch the 'RIF on Chain' Decentralised Finance ('DeFi') platform
On 21 April 2020, Money on Chain ('MOC') announced the release of the 'RIF on Chain' Decentralised Finance ('DeFi') platform backed by RIF tokens and unveiled the three main assets available on the platform: the RIF Dollar ('RDOC'), the RIFpro ('RPRO'), and RIFX.
RDOC is a RIF-collateralised stablecoin pegged to the US Dollar and guaranteed by a smart contract. RDOC tokens are directly available for sale on the RIF on Chain platform against RIF tokens. RDOC can be freely transferred to and stored on compatible hardware wallets. Redemption of RDOC depends on the availability of redeemable RDOC stablecoins.
RPRO is a token mirroring the RIF token price fluctuations and redistributes a share of the fees generated by the RIF on Chain platform transactions to its holders. This means holders can stake RIF tokens and earn fees while enabling an essential function of the RIF DeFi ecosystem.
RIFX is a leveraged asset for users who wish to get exposure to RIF token price changes. Based on an automated smart contract that renews every 30 days, the product has a leverage factor of 2X at the very beginning of its lifespan and a variable leverage afterwards based upon certain variables such as the price of RIF token and the amount of RDOC stablecoins on the RIF on Chain platform.
The RIF on Chain launch briefing can be found here: RIF on Chain Launch
Background to IOV Labs and Money on Chain
In 2018, IOV Labs introduced the RSK Infrastructure Framework Open Standard (RIF OS), a suite of open and decentralised infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment. The RIF token is the medium of exchange allowing token holders to consume the services compatible with the RIF architecture.
Building upon the RSK network, Money on Chain ('MOC') has developed one of the first bitcoin-collateralized DeFi solutions. The MOC platform has recently proven to be one of the most robust decentralized-financial platforms in the crypto environment.
Argentina Central Bank chooses RSK Technology for trials for the Central bank settlement layer.
On 16 April 2020 IOV Labs announced it had created a proof-of-concept, for a permissioned blockchain network, based on the RSK Smart Network, in conjunction with the Argentina Central Bank and major commercial banks in Argentina including Santander and BBVA.
This proof of concept is focused on implementing a decentralized platform powered by RSK technology that would allow for end-to-end traceability of account debit claims. The full announcement and briefing from IOV Labs can be seen here:
Argentina's Central Bank is promoting a proof of concept based on Blockchain technology. https://iovlabs.org/press/banco-central-de-la-republica-argentina-impulsa-una-prueba-de-concepto-basada-en-tecnologia-blockchain.html
Eddy Travia, CEO comments: "The RIF on Chain DeFi platform is a great example of innovation within a token ecosystem. Whilst several RIF services are being developed by IOV Labs with RIF tokens as the medium of exchange, 'RIF on Chain' represents a great live opportunity for RIF token holders and we expect this to have a positive impact on global awareness as a driver for adoption of the RSK Network and the RIF digital token. Likewise, the proof-of-concept created for a group comprising the Argentina Central Bank and major commercial banks in Argentina demonstrates that IOV Labs is leveraging the RSK network and the expertise of its talented team in smart contract and blockchain technologies to contribute to the improvement of nationwide financial systems.
"As we announced on 3 April 2020, Coinsilium is in the process of concluding an agreement with IOV Labs which will see the establishment of a Coinsilium-IOV Labs joint venture ('JV') company in Singapore. The objective of the JV company will be to promote and commercialise RSK's products, services and technologies in the Asian markets to corporations, entrepreneurs, governments and NGOs. Another key objective will be to promote the adoption in the region of the RIF token which powers the ecosystem of solutions developed by RSK, their partners and independent developers around the world.
"We look forward to providing the market with further details of the JV once concluded, together with some context as to the significant commercial opportunities we see in the region"
Coinsilium to host Barbarian Investors online Panel Session. "Bitcoin in a Post COVID19 World"
Coinsilium is pleased to announce that it will be hosting the forthcoming Barbarian Investors Webinar which will be held online on 7th May 14:30 (BST). This will include a panel session which will be moderated by Coinsilium Chairman Malcolm Palle and will feature a line-up of industry experts including Coinsilium CEO Eddy Travia. The Webinar is free to access for those wishing to attend, full details together with registration instructions details are provided via the link below:
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information, please contact:
Coinsilium Group Limited
Malcolm Palle, Executive Chairman
Eddy Travia, CEO
+44 (0) 7785 381 089
Peterhouse Capital Limited
Guy Miller / Mark Anwyl
(AQSE Growth Market Corporate Adviser)
+44 (0) 207 469 0930
SI Capital Limited
+44 (0) 1483 413 500
Notes to Editors:
Coinsilium is a venture builder, investor and advisor, supporting early-stage blockchain technology companies and the digital token economy. As the first ever IPO of a blockchain company in 2015, Coinsilium harnesses its experience and wide-ranging network to invest in leading blockchain projects such as RSK/IOV Labs, Indorse and Blox.
Coinsilium shares are traded on AQSE Growth Market, the primary market for unlisted securities operated by Aquis Stock Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000.
For further information please visit www.coinsilium.com or follow @CoinsiliumGroup on Twitter
About IOV Labs
IOV Labs builds low-cost, highly secure, easy-to-use platforms for the new global economy. Harnessing the benefits of Bitcoin with a suite of tools to create and protect growth, we're planting the seeds for global financial freedom.
RSK, the first smart contract platform secured by the Bitcoin network, is transforming the way businesses are conceived, designed, and built. Its complementary platform, RSK Infrastructure Framework Open Standard (RIF OS), takes these technologies to scale, simplifying the use of decentralized infrastructure for any traditional or Blockchain developer, organization, or innovator.
With help from IOV Labs platforms, people everywhere will have the power to create digital identities, build reputations, establish and enforce agreements, and engage in commercial transactions without intermediaries.
Now everyone has the chance to participate in a new economy for our new Internet age. That's why we call it the Internet of Value.
For further information please visit www.iovlabs.org and www.rsk.co/