("KR1" or the "Company")
Investment: Acala Network
KR1 is pleased to announce that the Company has invested a total of
The Acala Network is building decentralised finance infrastructure for the much anticipated Polkadot ecosystem. The core offering will be a stablecoin, which will be transferable across different blockchains and collateralised with many digital assets. A stable digital currency for low-cost borderless value transfer is a building block for a wide array of open finance products and creates an ecosystem of business lending with previously hard to achieve predictable risk.
A secondary offering of the Acala Network will be a liquidity protocol for staked digital assets. Utilizing Acala’s to-be-released liquidity protocol, staked Polkadot (“DOT”) tokens that are earning yield can become liquid and tradable. In the current blockchain ecosystem, digital assets that are locked as part of a ‘Proof-of-Stake’ network cannot be traded. Acala improves this process with a new innovative marketplace of staked assets, with market forces determining liquidity and risk premia or discounts.
KR1 took part in the seed round alongside
KR1 also intends to use a small part of KR1’s DOT allocation to support the Acala Network, which might require locking up some DOT tokens for a certain period of time to receive additional ACA tokens. This happens by an auction process called a ‘Parachain Auction’, which is unique to the Polkadot ecosystem. Projects bid for limited amounts of Polkadot ‘Parachain’ slots that facilitate cross-chain transactions.
“Stablecoins have become a central pillar in the crypto ecosystem with Maker’s DAI sparking the
For further information please contact:
+44 (0)16 2467 6716
Peterhouse Capital Limited
(AQSE Corporate Adviser)
+44 (0)20 7469 0930
KR1 is a leading digital asset investment company supporting early-stage decentralised and open-source blockchain projects. Founded in 2016 and publicly traded in
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