KR1 plc Investments: HydraDX, Superchain, Argent, Metaprime

 
TIDMKR1 
 
1 February 2023 
 
                                    KR1 PLC 
 
                           ("KR1" or the "Company") 
 
              Investments: HydraDX, Superchain, Argent, Metaprime 
 
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to 
announce that the Company has made a number of investments, both into existing 
projects demonstrating strong progress, and into new opportunities. 
 
HydraDX (and Basilisk) 
 
The Company has invested a total of US$250,000 into the strategic funding round 
of HydraDX ("HDX"), a follow on investment after KR1 previously participated in 
the project's seed funding round as announced on 22 December 2020. Across both 
investment rounds the Company received a total of 54,363,295.88 HDX tokens as 
well as 450,001,000 Basilisk ("BSX") tokens. 
 
KR1 has also received 45,248,493.45 HDX and 735,000,233.73 BSX to date from the 
Company's contributions to the projects' parachain auctions, as announced on 21 
February 2022 and 22 September 2021, respectively. The Company also expects 
further HDX rewards throughout the remaining duration of HydraDX's parachain 
lease. 
 
After the investments and parachain auction rewards to date, the Company 
currently holds a total of  99,611,772.96 HDX and 1,185,001,283.00 BSX. 
 
HydraDX (and its sister project Basilisk) are cross-chain liquidity protocols 
designed to enable frictionless liquidity for crypto assets across various 
chains. In contrast to most decentralised exchanges that rely on separate pools 
for separate assets, HydraDX's solution enables deposits of 'all' assets into 
one shared liquidity pool, the 'Omnipool', unlocking unparalleled 
efficiencies. 
 
Superchain 
 
The Company has invested US$400,000 into Superchain in return for 
yet-to-be-determined amount of Superchain tokens. 
 
Superchain is building an open index protocol that will be able to collect and 
customise blockchain data within minutes, which enables builders to create 
faster decentralised applications. 
 
Argent 
 
Argent Labs Limited ("Argent"), a simple and secure mobile crypto wallet and a 
portfolio company of KR1, has successfully raised a US$40 million 'Series B' 
fundraising round, issuing 'Series B Preferred Shares'. The funding round was 
led by Fabric Ventures and Metaplanet and was joined by existing investors, 
including KR1. 
 
KR1 invested US$220,661 in return for 6,357 'Series B Preferred Shares' and 
currently still holds 31,512 'Ordinary Shares' in Argent from the Company's 
initial seed investment in Argent as announced on 4 April 2018. 
 
Metaprime 
 
The Company has invested US$150,000 into Metaprime in return for a 
yet-to-be-determined amount of Metaprime tokens. 
 
Metaprime is building an open metaverse blockchain on Kusama, aiming to become 
a toolbox for Web3 developers featuring metaverse token standards, metadata 
standards, marketplaces, oracles and others. 
 
Keld van Schreven, Managing Director and Co-Founder of KR1, commented: 
 
"We continue to see innovative and disruptive early-stage projects that 
represent strong investment opportunities, despite the ongoing crypto bear 
market and difficult macroeconomic market conditions. As such, we are excited 
to have invested in Superchain and Metaprime, which we believe have the 
potential to become disruptive market leaders in their categories. We have also 
increased our commitment to HydraDX and Argent as we believe they represent the 
best in class for their categories and have been impressed with each team's 
performance to date." 
 
The Directors of KR1 plc accept responsibility for this announcement. 
 
                                   --ENDS-- 
 
For further information please contact: 
 
KR1 PLC                                                 [phone] 
George McDonaugh 
Keld van Schreven 
 
Peterhouse Capital Limited (AQSE Corporate              [phone] 
Adviser) 
Mark Anwyl 
 
FTI Consulting LLP (PR Adviser)                         [phone] 
Laura Ewart                                           [e-mail] 
 
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 London on the AQSE Growth Market (KR1:AQSE), KR1 has one of the 
longest and most successful track records of investment in the digital assets 
space by investing in decentralised platforms and protocols that are emerging 
to form new financial and internet infrastructures. 
 
www.KR1.io 
 
Market Abuse Regulation (MAR) Disclosure 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as 
defined in the European Union (Withdrawal) Act 2018). 
 
 
 
END 
 
 

(END) Dow Jones Newswires

February 01, 2023 02:01 ET (07:01 GMT)