1 September 2022
KR1 PLC
(“KR1” or the “Company”)
Investment Update: RedStone Finance
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that RedStone, a portfolio project of KR1, has completed a successful
KR1 is also pleased to announce the Company’s participation in this recent funding round, investing a further
The RedStone team is currently building two products: RedStone Oracles and Warp Contracts. RedStone Oracles aim to deliver price data feeds for crypto assets and all kinds of financial assets in a truly scalable and cross-chain manner. The novel product design ensures resistance to network congestion and enables the delivery of data to projects every few seconds. With Warp Contracts, the RedStone team is building a modular smart contract platform on top of the Arweave storage blockchain, delivering unparalleled computation efficiency by decoupling storage from computation.
George McDonaugh, Managing Director and Co-Founder of KR1, commented:
“RedStone has ambitious plans to set the standard for rapid and efficient connectivity between blockchains as well as for an innovative smart contract layer on Arweave. The project has already demonstrated significant momentum since our investment last year and we are excited to continue supporting the team in this next chapter.”
The Directors of KR1 plc accept responsibility for this announcement.
--ENDS--
For further information please contact:
| KR1 PLC George McDonaugh Keld van Schreven |
+44 (0)1624 630 630 |
| Peterhouse Capital Limited (AQSE Corporate Adviser) Mark Anwyl |
+44 (0)20 7469 0930 |
| FTI Consulting LLP (PR Adviser) Laura Ewart Gina Magnin |
+44 (0)7711 387 085 KR1@fticonsulting.com |
About KR1 plc
KR1 plc is a leading digital asset investment company supporting early-stage decentralised and open source blockchain projects. Founded in 2016 and publicly traded in