("KR1" or the "Company")
Investments: Vega, Edgeware,
KR1 is pleased to announce that the Company has invested a total of
The Vega Protocol is a fully decentralised and censorship-resistant blockchain-based trading platform that will improve access, reduce costs, and increase innovation in derivatives and other financial products. Vega allows anyone to create new products and markets, trade, and build decentralised applications using Vega. Markets on Vega can be anything from futures on the price of oil or bitcoin, to sports betting, Contracts for Difference (CFDs) on the S&P 500, options, swaps, and more. The platform is designed to be trust-minimising, performant, and scalable, including strong on-chain governance around market creation and abuse prevention.
KR1 took part in an over-subscribed successful seed round alongside a handpicked group of notable investors, including US-based
Barney Mannerings, Founder of Vega, commented: “From Vega’s inception, the KR1 team have been unwavering supporters of the project and were key in introducing us to the blockchain investment ecosystem. They are great partners and advisors and we look forward to working with them further as we bring Vega to market."
KR1 is pleased to announce the Company has participated in the Edgeware (“Edgeware” or “EDG”) token distribution, termed ‘lock-drop’. KR1 time-locked 1,000 Ether (“ETH”), equivalent to
Edgeware is a high-performance smart-contract platform implemented on the Polkadot network as a parachain. Edgeware aims to allow participants to vote, delegate and fund each other to upgrade the network. Thriving communities are key to building strong governance, so through the Edgeware lock-drop system, the development team created an innovative way of distributing their EDG token. The lock-drop is a new way of distributing tokens that does not require direct investment. Instead, in return for locking up ETH tokens in a smart contract, participants will receive EDG tokens in relation to two metrics: firstly, the amount of ETH placed in the contract: and, secondly, the length of time the participant chooses to lock up their tokens.
The Edgeware lock-drop has been very successful, securing a total value of over
KR1 is pleased to announce the Company has invested
Commonwealth’s main focus is bringing the above discussed Edgeware smart-contract platform to market as the main for-profit development entity. In addition to this, Commonwealth plans to on-board multiple other crypto networks to their state-of-the-art governance interface. The governance interface allows protocols to update new features efficiently while also keeping project teams accountable and driving correct resource allocation. As decentralised protocols and networks gain users and attract ever-larger sums of finance, governance becomes a key component to ensure these systems remain robust and develop new capabilities.
“These most recent investments are exciting additions to our portfolio. We expect to see material returns from them as we continue building on our past successes and increasing shareholder value.”
“Vega fits perfectly into our current investment focus, a
“As strong supporters of the emerging Polkadot ecosystem, we're excited to back the highly skilled teams behind
- ENDS -
KR1 Plc+44 (0)16 2467 6716 George McDonaughsimon@KR1.io Simon Nicol Peterhouse Capital Limited+44 (0)20 7469 0930 (NEX Corporate Adviser) Mark Anwyl Allie Feuerlein Nominis Advisory Ltdpr@KR1.io (PR Adviser) Angus Campbell
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