Blockchain and crypto-asset investment company KR1, today announced an update on its revenue from staking activities on Polkadot (DOT). KR1 has generated a further 141,564.69 DOT since the last staking update announcement in August 2020, all of which have been sold at an average price of USD $5.63 per DOT token, realizing USD $796,942.58.
KR1 has realized more than 194,631.69 DOT from staking yields over the last six months since Polkadot migrated to a ‘Proof-of-Stake’ network on June 18, 2020. KR1 has now realized the entirety of its generated DOT staking yields to date, which netted the company a total of USD $991,745.54.
The KR1 team takes a long-term view on the price of DOT, implementing a strategy where, if the asset price is under pressure and below a certain price threshold, the company will not liquidate its accruing staking yields and postpones the realizing of yields until the market recovers. This strategy has led to a more favorable average realized price of USD $5.63 per DOT for this Polkadot staking revenue update, versus an average daily price of USD $4.67 per DOT if the company had sold its yields on a daily basis.
As of the date of this announcement, KR1’s total holding of Polkadot tokens is 3,498,842.45 DOT after the realization of all staking yields.
“A healthy flow of staking income without any capital expenditure allows us to take full advantage of the growing excitement in the digital asset markets. Once again, we have been very successful in achieving great average prices for realizing the company’s staking yields with our strategy to time market conditions. The momentum in the Polkadot ecosystem has been very encouraging, with a major surge in community participation and new features like Polkadot’s ‘parachain auctions’ and cross-chain communication coming closer to release.”
– George McDonaugh, Managing Director & Co-Founder of KR1