Crypto investment firm Kryptonite1 invests $986K in Polkadot Project

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.

Exit mobile version