KR1 KR1 Plc

 
TIDMKR1 
 
22 September 2021 
 
                                    KR1 plc 
 
                           ("KR1" or the "Company") 
 
                             Investment: Basilisk 
 
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to 
announce the Company's participation in the Basilisk crowdloan and Kusama 
("KSM") parachain auction. KR1 contributed a total of 11,111.1 KSM to the 
Basilisk crowdloan campaign. 
 
Basilisk is a liquidity bootstrapping protocol built for Kusama, enabling 
frictionless liquidity for the long tail of crypto assets through a modular 
design. Basilisk's first release offers an implementation of a liquidity 
bootstrapping pool as well as pools with order matching transactions. Future 
releases will bring more advanced price discovery mechanisms to Basilisk, such 
as auctions and bonding curves. 
 
The contributed KSM will be time-locked on the Kusama blockchain for 48 weeks 
and will be returned to the Company following the completion of the respective 
Basilisk parachain lease. Following the successful Basilisk parachain auction 
bid, KR1 is going to receive a to-be-determined amount of Basilisk ("BSX") 
tokens in return for supporting the Basilisk crowdloan campaign. In addition, 
the Company will also receive a yet-to-be-determined amount of BSX tokens in 
line with KR1's previous backing of HydraDX's seed funding round, which will be 
confirmed in a future announcement. 
 
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. 
 
Keld van Schreven, Managing Director and Co-Founder of KR1, commented: 
 
"Basilisk is an exciting community focused project run by an exceptional team 
of crypto thinkers. As a permanent deployment on Kusama, Basilisk has strong 
synergies with Polkadot-facing HydraDX, which, together, will cater to the 
varying liquidity needs of crypto assets throughout their life cycles. Projects 
can bootstrap liquidity in the early stages using a Basilisk pool, then later 
move to the HydraDX omnipool to unlock unprecedented cross-chain liquidity in 
an 'ocean of assets'." 
 
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 22, 2021 09:03 ET (13:03 GMT)

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