Kryptonite1, a publicly listed investment company focused on the blockchain ecosystem today announced that the company took part in the private allocation round preceding the public auction of the Polkadot Project (DOT). Kryptonite1 invested USD $986,287 for 40,013 DOT tokens (including 15% ‘bonus’ tokens). The public auction concluded with just under USD $150 million contributed in total.
The Polkadot Project will be developed by the Web3 Foundation in conjunction with Parity Technologies and is arguably the most important project since Ethereum, in terms of scope and utility. The project’s aim is to create a decentralized protocol that allows the trust-free movement of tokens and data between blockchains. Polkadot will also bring pooled security to the ecosystem, allowing blockchains to create new parachains and therefore bypass having to build a community from scratch to provide secure execution.
The team includes members from the original Ethereum development group, including Dr. Gavin Wood, who coded the first fictional implementation of Ethereum and wrote “The Yellow Paper.” The project is expected to go live in Q4 2019.
Notice of Token Divestments
Kryptonite1 further announced that they’ve made more disposals of holdings in the Melonport Project and the OmiseGo Project as well as the FunFair Project.
- Sold 511 Melon tokens at an average price of GBP 64.20 per token. These tokens were purchased for GBP 3.87 per token.
- Sold 28,000 OmiseGo tokens at an average price of GBP 6.91 per token. These tokens were purchased for GBP 0.20 per token.
- Sold 2,976,710 FunFair tokens at an average price of GBP 0.022 per token. These tokens were purchased on June, 23rd 2017 for GBP 0.005 per token.