DeFi Technologies Joins US$45M Raise for Boba Network to Unchain Web3 Development on Ethereum

DeFi Technologies Joins US$45M Raise for Boba Network to Unchain Web3 Development on Ethereum


  • The Series A round values the company at US$1.5bn and assembles the brightest minds in Web3 to unlock Ethereum’s full potential
  • Notable co-investors include Crypto.com, M13 and Hypersphere

TORONTO, April 5, 2022DeFi Technologies Inc. (the “Company” or “DeFi Technologies“) (NEO: DEFI) (GR: RMJR) (OTC: DEFTF), a technology company bridging the gap between traditional capital markets and decentralized finance, today announces that it participated in the $45 million Series A raise for Boba Network, a Decentralized Autonomous Organization (DAO) and next-generation Ethereum Layer-2 Optimistic Rollup scaling solution. The Series A raise values the project at US$1.5bn. The funding will address Ethereum’s computational limitations and foster greater functionality for decentralized applications (dApps) through Boba’s Hybrid Compute platform.

The round saw notable participation from successful crypto funds such as Hypersphere Infinite Capital, Hack VC, GBV, Sanctor Capital, and Shima Capital, as well as those with strong regional networks like Kinetic Capital, Ghaf Capital, LD Capital, Old Fashion Research, Alphanonce, IOST, and ROK Capital. Other notable investors include the Dreamers VC (Will Smith and Keisuke Honda), M13 (Paris Hilton and Carter Reum), Tony Robbins, Joe Montana, and KSHMR.

Boba’s Hybrid Compute brings the power of Web2 on-chain for the first time, allowing smart contracts to call any external Web2 API to execute complex algorithms such as machine learning classifiers, pull in real-world or enterprise data in a single atomic transaction, or sync with the latest state of a gaming engine. Leveraging off-chain compute and real-world data, developers and creators can offer an enriched experience unlike anything else on the market today.

Boba’s Optimistic Rollup technology offers lightning fast transactions and fees up to 60x less than Ethereum, all while maintaining Ethereum’s robust security and decentralization. Boba also offers fast exits backed by community-driven liquidity pools, decreasing the Optimistic Rollup exit period from days to mere minutes while giving liquidity providers incentivized yield farming opportunities.

Alan Chiu, Boba Network Founder, said: “This fundraise is about building a broad-based alliance to build the Boba ecosystem. Having so many amazing investors demonstrate their confidence in our vision and technology reinforces our belief that what we’re building is important and necessary. Hybrid Compute will scale Web3 development, enabling builders to deliver innovative products with greater functionality.”

Boba also created one of the first bridges to ferry non-fungible tokens (NFTs)  from layer-2 blockchains to Ethereum’s layer-1 and vice versa. Typically, when NFTs are minted on a layer-2 blockchain, they remain tied to that particular protocol. Boba’s NFT bridge allows NFTs to be moved and traded throughout the Ethereum ecosystem — greatly expanding NFT liquidity.

Diana Biggs, Chief Strategy Officer of DeFi Technologies, said: “Layer 2s are critical to the scalability and usability of Web3 and the Boba Network is arguably one of the most exciting platforms in the space. To bring these improvements whilst maintaining the security and decentralisation of Ethereum is an incredible achievement and they are only just getting started. We’re thrilled to be backing Boba and look forward to what’s to come!”

Beyond bootstrapping Boba’s development, the raise will enable the protocol to invest in Boba ecosystem projects and tap into the combined expertise of some of the biggest names in Web3. Participating investors share in Boba’s vision of fostering crypto accessibility and liberating developers who have been restricted by Ethereum computational limitations.

Additional participants include founders of industry stalwarts Quantstamp, Origin Protocol, The Graph, Fractional Art, High Street, ANKR, UMA, Nillion, deBridge, FEI Labs, DoinGud, Utopia Labs, and Sense Protocol; along with crypto exchange giants such as Crypto.com, Huobi, and BitMart.

Learn more about DeFi Technologies and Boba at defi.tech and https://boba.network.

About DeFi Technologies
DeFi Technologies Inc. is a technology company bridging the gap between traditional capital markets and decentralised finance. Our mission is to expand investor access to industry-leading decentralised technologies which we believe lie at the heart of the future of finance. On behalf of our shareholders and investors, we identify opportunities and areas of innovation, and build and invest in new technologies and ventures in order to provide trusted, diversified exposure across the decentralized finance ecosystem. For more information or to subscribe to receive company updates and financial information, visit https://defi.tech/.

About Boba Network
Boba Network is an EVM-equivalent hybrid compute platform built on an optimistic rollup architecture, helping developers build more feature-rich dapps by enabling smart contracts to leverage complex off-chain computations or bring in off-chain data. Boba offers one of the easiest to use blockchain platforms for end users through their multi-token on-ramp, fast exit, and NFT bridge.

Boba is maintained by the Enya team.

For more information, please visit: https://boba.network

Cautionary note regarding forward-looking information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s participation in the Boba Network’s Series A raise; Boba’s Hybrid Compute Network and Boba’s Optimistic Rollup technology; the pursuit by DeFi Technologies and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited to the ability of Boba’s Hybrid Compute Network and Boba’s Optimistic Rollup technology to perform as designed; the growth and development of DeFi and cryptocurrency sector; rules and regulations with respect to DeFi and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

All information contained in this press release with respect to DeFi Technologies and Boba Network was supplied by the parties respectively for inclusion herein, and each party and its directors and officers have relied entirely on the other parties for any information concerning the other party. DeFi Technologies has not conducted due diligence on the information provided by Boba Network and does not assume any responsibility for the accuracy or completeness of such information.

THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

SOURCE DeFi Technologies, Inc.

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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.

DeFi Technologies’ Wholly Owned Subsidiary Valour Reaches $208m USD in AUM – A Doubling of AUM in 2 Months

DeFi Technologies’ Wholly Owned Subsidiary Valour Reaches $208m USD in AUM – A Doubling of AUM in 2 Months

TORONTO, Sept. 7, 2021 – DeFi Technologies Inc. (the “Company” or “DeFiTechnologies“) (NEO: DEFI) (OTC: DEFTF) (GR: RMJR) announces that its wholly owned subsidiary, Valour Inc, the pioneering issuer of digital asset exchange traded products (“ETPs“), has surpassed US$208 million (1.7 billion Swedish Krona (“SEK“)) in assets under management (“AUM“), marking an exceptional first eight months of 2021 which has seen AUM leap more than 1400% since the start of 2021 . As of September 7, 2021, Valour’s AUM stood at an impressive US$208m, an equivalent of over 1.7bn SEK.

Following the press release dated August 18, 2021 the growth in AUM reflects nearly a US$70m increase in under one month and a doubling in two months. With German listings anticipated this month and an aggressive global marketing campaign planned, Valour’s AUM should grow substantially in the next few months. Furthermore numerous new products will be launched in the coming weeks and months in response to investor demand which will also drive AUM growth.

Russell Starr, DeFi Technologies’ Executive Chairman states: “The Valour team has done an exceptional job launching innovative exchange traded products (ETPs), bridging the gap between crypto/defi protocols and traditional equity products. With numerous other ETPs planned for release, rapid AUM growth and our anticipated listings in Germany, shareholders have much to look forward to not just on the AUM front but also in terms of revenues, income and global exposure to the rapidly growing Defi sector.”

Founded in 2019, Valour has spent two years developing its proprietary platform and growing its team, including the hiring of Diana Biggs, previously Global Head of Innovation at HSBC Private Banking as CEO. Valour was acquired by DeFi Technologies in March of this year.

Take-up is going from strength to strength as Valour offers fully hedged products with low to zero management fees. Valour’s largest product, Bitcoin Zero, the first fully hedged, passive investment product with Bitcoin (“BTC“) as its underlying asset and charging zero management fees, has grown its assets by 1400% since the start of the year.

Meanwhile, Valour’s Polkadot (“DOT“) and Cardano (“ADA”) ETPs are the first DOT and ADA ETPs in the Nordics, and the lowest fee DOT and ADA ETPs in the world. Its BTC and Ethereum products are completely fee-free, a global first for such products with competitors charging up to 2.5% in management fees.

Diana Biggs, CEO of Valour, stated: “The continuing strong growth in our AUM is reflective of increasing investor demand for what we are building, with consistent net inflows into all of our products. We’re delighted to be providing the Nordics with the most accessible digital asset ETPs on the market and are extremely excited to soon be bringing not only more innovative products but launching in new geographies as well.”

Breakdown of Total AUM:

BTC Zero: 76´687´000 USD (record)

ETH Zero: 55´635′ 000 USD

ADA Valour: 58′ 099´000 USD

DOT Valour: 17´859´000 USD (record)

Total AUM: 208´280′ 000 USD

About Valour Inc.:

Valour In. issues exchange-listed financial products that enable retail and institutional investors to access investment in disruptive innovations, such as digital assets, in a simple and secure way. Established in 2019 and with offices in Zug, Switzerland, Valour is a wholly owned subsidiary of DeFi Technologies Inc. (NEO: DEFI, GR:RMJR, OTC: DEFTF). For more information on Valour, visit www.valour.com.

About DeFi Technologies:

DeFi Technologies Inc. is a Canadian company that carries on business with the objective of enhancing shareholder value through building and managing assets in the decentralized finance sector. For more information visit https://defi.tech/

Cautionary note regarding forward-looking information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, Valour and its business plans; development of new financial product by Valour; growth of Valour’s AUM; uplisting of ETPs in Germany; global marketing campaign; the decentralized finance industry and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include , but is not limited to, the growth and development of the DeFi and cryptocurrency sector, rules and regulation with respect to DeFi, regulatory approval of ETPs, future adoption of Valour’s ETPs and effectiveness of any marketing campaign. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE DeFi Technologies, Inc.

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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.

DeFi Technologies Provides Update on Its Governance Business – Announces initial Shyft Network Node Earning of 300K+ of Shyft Tokens Over Two Months

DeFi Technologies Provides Update on Its Governance Business – Announces initial Shyft Network Node Earning of 300K+ of Shyft Tokens Over Two Months

 

TORONTO, Aug. 31, 2021DeFi Technologies Inc. (the “Company” or “DeFi Technologies“) (NEO: DEFI) (GR: RMJR) (OTC: DEFTF) announces initial Shyft Network Node earning of 300K+ of Shyft tokens over two months and expects to generate about 6800 Shyft tokens daily or 2,482,000 Shyft tokens per year. The Company is running a validator on the Shyft Network, the private, semi-permissioned blockchain designed to embed trust, validation and discoverability into public and private ecosystems.

The Shyft Network protocol is an intraoperative, transformative solution that enables identity verification, validation and the sending of credentials and other data across multiple different blockchains and networks. The protocol was designed to help virtual asset service providers (VASPs), brokers, and financial institutions achieve full compliance with the Travel Rule, which was standardized globally by the Financial Action Task Force in 2019, and ease friction in the deployment of technical compliance solutions for virtual assets.

DeFi Technologies generates revenue by running a node on the Shyft Network which secures the network and validates transactions. In return for providing the service, DeFi Technologies earns the transaction fees on the network and the Shyft Network token issuance. The earnings generated by running this node on the Shyft network will be used to help fund development of products being built on the Shyft network, as well as several other initiatives like providing liquidity to the market, creating institutional trading products, amongst other things.

Russell Starr, Executive Chairman of DeFi Technologies stated: “As our entire business platform at Valour continues to grow in terms of AUM and revenues, to see our governance product now kick in and add to our already substantial revenue profile is incredible news for shareholders. What is even more exciting are our new products coming to market along with our intent to also build out a node portfolio. DeFi Technologies remains one of the only ways for investors to get exposure to DeFi TVL (which has grown to US$157 billion) in a listed and regulated equity market.”

Currently DeFi Technologies is running one Shyft node. Through July and August of 2021, DeFi Technologies has generated over 300,000 Shyft Tokens. The current network price of the Shyft Tokens is US$1.05.

Wouter Witvoet, DeFi Technologies’ Chief Executive Officer, said: “This is a really exciting start of our governance business line and shows the potential of DeFi Technologies to be a core actor in enabling decentralized networks. The lessons learnt in our initial partnership with the Shyft foundation will give us a template of how we can work with other players in the space.”

DeFi Technologies offers governance as a part of its product suite. As more DeFi applications seek to improve the way their projects are governed by their respective token holders a need has emerged for independent governance.

The best way to think of it is similar to a public company opting to install independent board members. The DeFi Governance product works with decentralized networks to run independent nodes that validate transactions and provide governance on the network.

As the only public company dedicated to the DeFi space, the company believes it is uniquely positioned to fulfill this emerging need in the marketplace.

About Shyft Network:
Shyft Network is a public protocol designed to aggregate and embed trust, validation and discoverability into data stored on public and private ecosystems, and facilitate information transfer between permissioned and permissionless networks. By incentivizing individuals and enterprises to work together, Shyft Network allows for the layering of context on top of data, turning raw data into meaningful information.To learn more: https://shyft.network/

About DeFi Technologies:
DeFi Technologies Inc. is a Canadian company that carries on business with the objective of enhancing shareholder value through building and managing assets in the decentralized finance sector. For more information visit https://defi.tech/

Cautionary note regarding forward-looking information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to expected earning in Shyft tokens; product development plans of the Company; acquisition and investment plans of the Company; the decentralized finance industry and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE DeFi Technologies, Inc.

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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.


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