DeFi
DeFi Technologies Expands BTC Treasury Holdings, Diversifies Into Solana Staking, CORE, and CORE DAO
- Increase in Bitcoin holdings: The company increased its BTC holdings by purchasing an additional 94.34 BTC, bringing the total to 204.34 BTC, reaffirming its confidence in BTC as a primary treasury reserve digital asset.
- Added Solana (SOL) to the Treasury: The company diversified its treasury by acquiring 12,775 SOL tokens, recognizing SOL’s high-performance blockchain, low transaction fees, and high market activity, with a trading volume of US$393.71 billion and a liquidity TVL of US$865.97 million.
- Adding CORE (CORE) to Staking Treasury and CORE DAO: The company purchased 1,484,148 CORE tokens and plans to participate in CORE’s staking system, which enhances yield opportunities and contributes to network security, further diversifying the company’s revenue streams and strengthening its position in the DeFi ecosystem.
TORONTO, July 18, 2024 /PRNewswire/ – DeFi Technologies Inc. (the “DeFi Technologies”)Business” Or “DeFi Technologies“) (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial technology company that is pioneering the convergence of traditional capital markets with the world of decentralized finance (“Challenge“), is pleased to announce the expansion of its digital asset treasury strategy. The Company has purchased an additional 94.34 BTC, bringing its total BTC holdings to 204.34 BTC. Additionally, the Company has acquired 12,775 SOL tokens and 1,484,148 CORE tokens, with the intention of actively participating in the CORE DAO staking facility.
Bitcoin Holdings Increase
Following the Company’s initial acquisition of 110 BTC in June 2024, the Company has continued to build on its confidence in BTC as a primary treasury reserve asset. The additional purchase of 94.34 BTC, for a total of 204.34 BTC, reaffirms the Company’s commitment to this premier digital asset, recognizing its unique characteristics as a scarce and limited asset, and its potential as an inflation hedge and protection against currency debasement.
Added Solana (SOL) to the Treasury
As part of a strategic move to diversify the Company’s treasury, the Company has acquired 12,775 SOL tokens. SOL is distinguished by its high-performance, permissionless blockchain, capable of processing up to 65,000 transactions per second, thanks to its unique combination of proof-of-history and proof-of-stake. This scalability and efficiency surpass many of its peers.
SOL’s low transaction fees and fast processing times reduce the barriers for developers, fostering a strong user base and impressive fee generation. The platform’s transaction volume reached US$393.71 billion, indicating robust market activity and user engagement. Liquidity Total Value Locked (“TVL“) stands at USD 865.97 million, reflecting substantial assets held in liquidity pools, which support trading activities. Since its inception, SOL’s decentralized financial landscape has attracted 24,591,311 traders and executed 1,847,335,349 swaps, highlighting its strong transactional activity and efficiency.
Overall, SOL’s technical strengths, significant commercial activity, and continuous improvements position it as a promising investment, offering a scalable and efficient platform for a wide range of decentralized applications.
Adding CORE to the Treasury and Participating in CORE DAO Staking
The Company is also pleased to announce that it has purchased 1,484,148 CORE tokens and intends to participate in CORE’s staking system. CORE’s innovative staking solution allows holders to stake BTC in a non-custodial manner, enhancing yield opportunities and contributing to the security and stability of the network. The Company’s participation in this staking system not only diversifies its revenue streams but also strengthens its collaborative relationship with the CORE Foundation and its involvement in the broader DeFi ecosystem. CORE is proving to be a leading BTC scaling chain with over 55% BTC hash rate participation, $138.5 million USD in TVL, and over 5,000 BTC staked (~$320 million USD).
“We are excited to announce these significant advancements in our digital asset treasury strategy,” said Olivier Roussy Newton, CEO of DeFi Technologies. “Increasing our BTC holdings, strategic investment in SOL, CORE, and participation in CORE’s staking facility reflect our commitment to capitalizing on the most promising opportunities in the decentralized finance landscape. These actions not only diversify our balance sheet, but also align with our mission to connect traditional financial markets with the innovative world of DeFi.”
About DeFi Technologies
DeFi Technologies Inc. (CBOE CA: CHALLENGE) (GR: R9B) (OTC: DEFAULT) is a financial technology company pioneering the convergence of traditional financial markets with the world of decentralized finance (DeFi). By focusing on cutting-edge Web3 technologies, DeFi Technologies aims to provide investors with widespread access to the future of finance. Backed by a team of esteemed experts with extensive experience in financial markets and digital assets, we are committed to revolutionizing the way individuals and institutions interact with the evolving financial ecosystem. Join the DeFi Technologies digital community on Linkedin And Twitterand for more details visit https://defi.tech/
About Valour
Valor Inc. and Valor Digital Securities Limited (together, “Value“) issues exchange-traded products (“AND P”) that allow retail and institutional investors to access digital assets like Bitcoin simply and securely through their traditional bank account. Valor is part of DeFi Technologies Inc.’s (CBOE CA: CHALLENGE) (GR: R9B) (OTC: DEFAULT).
In addition to their new digital asset platform backed by physical media, which includes 1Valour Carbon Neutral Physical Bitcoin AND P, 1Valour Ethereum Physical StakingAnd 1Valor Internet Computer Physical StakingValour offers fully hedged digital asset ETPs with low to no management fees, with product listings on European exchanges, banks and brokerage platforms. Valour’s existing product range includes Valour Uniswap (United), Cardan (ADA), Peas (POINT), Solana (GROUND), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Ripple (XRP), Toncoin (TONNE), Internet computer (PCI), Chain link (LINK), Heart (HEART), Close (CLOSE), Enjin (ENJ), Valor Bitcoin Staking (Bitcoin), Bitcoin Carbon Neutral (BTCN), Hedera (HBAR), Valor 10 Digital Asset Basket (VDAB10) And 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETPs with low management fees. Valour’s flagship products are Bitcoin Zero and Ethereum Zero, the first passive investment products fully hedged with Bitcoin (Bitcoin) and Ethereum (ETH) as underlyings that are completely free of fees. For more information about Valour, to subscribe, or to receive financial updates and information, visit valor.com.
Caution regarding forward-looking information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company’s digital asset treasury strategy; participation in the CORE staking facility; the regulatory environment regarding the growth and adoption of decentralized finance; the Company’s and its subsidiaries’ pursuit of business opportunities; and the potential merits or returns of such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but are not limited to, staking returns on the CORE staking facility; the growth and development of the decentralized finance and digital asset industry; rules and regulations relating to decentralized finance and digital assets; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, other factors may cause results to differ from those anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statements, except in accordance with applicable securities laws.
CBOE CANADA EXCHANGE ACCEPTS NO RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE DeFi Technologies Inc.