KR1 KR1 Plc

 
TIDMKR1 
 
Date: 1 September 2021 
 
                                    KR1 plc 
 
                           ("KR1" or the "Company") 
 
                  Investment and Portfolio Update: Moonriver 
 
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to 
announce the Company's participation in the Moonriver ("MOVR") crowdloan and 
Kusama ("KSM") parachain auction. KR1 contributed a total of 5,000 KSM to the 
Moonriver crowdloan campaign, which successfully secured the second parachain 
slot in the previous round of Kusama parachain auctions. 
 
Moonriver is a community-led Ethereum-compatible smart contracts platform on 
Kusama, acting as a permanently incentivised canary network of the Moonbeam 
project. 
 
Subsequent to the successful Moonriver parachain auction bid, KR1 received an 
initial unlocked tranche of 19,666.35 MOVR and is expecting to gradually 
receive a further estimated 45,888.15 MOVR over a period of 48 weeks. 
 
The contributed KSM are time-locked on the Kusama blockchain for a period of 48 
weeks and will be returned to the Company following the completion of the 
respective Moonriver parachain lease. This method of token distribution 
involves no direct investment of capital, instead, it is an indirect 
investment, with the opportunity costs being the inaccessibility of the locked 
KSM funds, as well as, foregoing any staking yields on the contributed KSM for 
the time period. 
 
The Company is also pleased to announce that it has already realised a part of 
its initial tranche of received Moonriver ("MOVR") tokens, having sold a total 
of 15,643.19 MOVR and, in turn, having purchased a total of 5,162.25 KSM with 
the entire proceeds from this sale. 
 
As at the date of this announcement, the Company continues to hold 4,023.16 
unlocked MOVR and is expecting to receive a further estimated 45,888.15 MOVR 
tokens in line with its parachain auction contribution, suggesting a total 
position of 49,911.31 MOVR. Also, following the purchase of KSM as well as KSM 
staking rewards generated since the Company's last Kusama staking update, KR1 
now holds a total of 48,057.89 KSM as at the date of this announcement. 
 
In contrast to other Kusama sister networks, the Moonbeam Foundation opted for 
not granting any MOVR tokens to the founding team or to previous backers of 
Moonbeam-focused funding rounds, thereby laying the foundation for a strong 
community-led network. 
 
George McDonaugh, Managing Director and Co-Founder of KR1, commented: 
 
"It is fantastic to see the excitement within the Kusama community for 
Moonriver, as well as the many other extremely well coordinated launches of 
technically sophisticated parachains.  Moonriver and the entire team have our 
full support and we are looking forward to developers taking advantage of 
Moonriver's Ethereum-like environment that is fully compatible with existing 
tools and protocols." 
 
"Considering the exceptional traction of MOVR in the secondary markets, we had 
to find a balance as a Company and could not pass on the opportunity to realise 
some profits on our contributed KSM. This partial exit allows us to be an even 
more active participant in further upcoming parachain auctions and is also 
strengthening our staking activities going forward." 
 
The Directors of KR1 plc accept responsibility for this announcement. 
 
--ENDS-- 
 
For further information please contact: 
 
KR1 PLC 
George McDonaugh                            +44 (0)16 2467 6716 
Keld van Schreven 
Simon Nicol                                 simon@KR1.io 
 
Peterhouse Capital Limited                  (AQSE Corporate Adviser) 
Mark Anwyl                                  +44 (0)20 7469 0930 
 
Nominis Advisory Ltd                        (PR Adviser) 
Angus Campbell                              pr@KR1.io 
 
About KR1 plc 
 
KR1 is a leading digital asset investment company supporting early-stage 
decentralised and open source blockchain and DeFi projects. Founded in 2016 and 
publicly traded in London on the Apex segment of the AQSE Growth Market (KR1: 
AQSE), KR1 has built a notable reputation for generating significant returns by 
investing in many key projects that are designed to power the decentralised 
platforms and protocols that are emerging to form new internet infrastructures. 
 
www.KR1.io 
 
Market Abuse Regulation (MAR) Disclosure 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as 
defined in the European Union (Withdrawal) Act 2018). 
 
 
 
END 
 
 

(END) Dow Jones Newswires

September 01, 2021 09:00 ET (13:00 GMT)

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