TORONTO–(BUSINESS WIRE)–Tokens.com Corp. (NEO:COIN) (FSE:76M) (“Tokens.com” or “the Company”) is a blockchain technology company that provides transaction processing and validation services for various digital assets that power Decentralized Finance (DeFi) applications and Non-Fungible Token (NFT) platforms. Tokens.com has acquired approximately 35,000 additional Polkadot tokens (DOT) to further its Staking operations. Staking is the environmentally friendly technology used to process and validate blockchain transactions for digital assets such as Ethereum 2.0.
“We don’t believe that the short-term crypto volatility we’re experiencing now will impact the long-term mainstream adoption of the DeFi and NFT platforms we support. Instead, we see the volatility as an opportunity to grow our operations,” commented CEO Andrew Kiguel.
Polkadot is the 8th largest crypto asset by market capitalization. Created by Ethereum co-founder Gavin Wood, Polkadot launched in 2020. Polkadot is a network designed to connect the dots with all other networks. It’s commonly referred to as a multi-chain network because it can join blockchain networks together. Polkadot is a programmable blockchain. The Polkadot blockchain network allows blockchains to be designed for very specific uses and still be able to leverage security and data built within the Polkadot framework. As a result, it is a key component for several DeFi and NFT platforms that pay fees to use the Polkadot network for their projects.
Tokens is a blockchain technology company that provides transaction processing and validation services for various digital assets that power Decentralized Finance (DeFi) applications and Non-Fungible Token (NFT) platforms. Tokens utilizes Proof-of-Stake (“PoS”) or Staking technology. DeFi is a new class of financial applications that provides users with automated and transparent financial services, such as borrowing and lending, without the need for financial institutions. NFTs are redefining how art, gaming, music and collectibles are created, valued and traded. Management believes that as mainstream adoption for DeFi and NFT applications grow, the need for Tokens.com’s Staking services will commensurately increase.
Tokens has agreements with industry leaders, Polychain Labs, Bison Trails, Staked and Coinbase Custody, to manage its staking operations and provide custodial services. Tokens’ management team includes seasoned blockchain and financial professionals with prior experience at Hut 8 Mining, Fidelity Investments, Galaxy Digital and Goldman Sachs. Tokens was formed in collaboration with Polychain Labs, an affiliate of Polychain Capital, which is one of the largest cryptocurrency venture capital firms in Silicon Valley. Current investors include Bitbuy Limited, First Block Capital, HIVE Blockchain Technologies Ltd., PowerOne Capital Group, Matthew Roszak (the co-founder and Chairman of Bloq, Inc.), and Olaf Carlson-Wee (the founder and CEO of Polychain Capital).
The Company’s common shares are listed under the symbol “COIN” on the NEO Exchange and as “76M” on the Frankfurt Stock Exchange.
Further information can be found on the Company’s website: Tokens.com.
Katherine Sullivan, Head of Corporate Strategy & Investor Relations
Media: Megan Stangl – Talk Shop Media
Original Realease from Original Realease from Business Wire