KR1 KR1 Plc

 
TIDMKR1 
 
14 April 2022 
 
                                    KR1 PLC 
 
                           ("KR1" or the "Company") 
 
                             Investment: Zeitgeist 
 
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to 
announce that the Company has invested a total of US$700,000 into Zeitgeist 
("ZTG") in return for 1,000,000 ZTG tokens. 
 
Zeitgeist is an application specific blockchain for prediction markets and 
futarchy, built for the Kusama and Polkadot ecosystem. After a market is 
created in a particular variable by someone, anyone can take positions on 
future outcomes of that particular market. As different parties often hold 
different views regarding specific variables, Zeitgeist allows them to buy 
market shares in their preferred outcome. Following the conclusion of the 
event, a decentralised oracle resolves the market. Market participants who took 
the correct position can redeem their shares for ZTG, the native token of the 
Zeitgeist protocol, which also plays a critical role in market creation and 
dispute resolution. 
 
Zeitgeist is built on top of Polkadot's Substrate framework and has already 
secured a lease to join Kusama as a parachain, enabling the project to keep 
transaction fees affordable even with high traffic. Zeitgeist is governed by 
the holders of the ZTG using a mix of normal token voting and a new futarchy 
model, ensuring that no single entity controls the network. 
 
George McDonaugh, Managing Director and Co-Founder of KR1, commented: 
 
"Over the last decade we have seen only a glimpse of what prediction markets 
could be capable of. With the combination of Kusama and Polkadot, as well as 
the design choices of the Zeitgeist team, the technology is finally available 
to deliver a cheap, usable and intuitive protocol that is going to bring the 
power of prediction markets to a mainstream user base. We are very excited to 
support them on this journey." 
 
The Directors of KR1 plc accept responsibility for this announcement. 
 
                                   --ENDS-- 
 
For further information please contact: 
 
KR1 PLC                                                 +44 (0)1624 630 630 
George McDonaugh 
Keld van Schreven 
 
Peterhouse Capital Limited (AQSE Corporate              +44 (0)20 7469 0930 
Adviser) 
Mark Anwyl 
 
FTI Consulting LLP (PR Adviser)                         +44 (0)7711 387 085 
Ed Berry                                              KR1@fticonsulting.com 
Laura Ewart 
 
About KR1 plc 
 
KR1 plc is a leading digital asset investment company supporting early-stage 
decentralised and open source blockchain projects. Founded in 2016 and publicly 
traded in London on the AQSE Growth Market (KR1:AQSE), KR1 has one of the 
longest and most successful track records of investment in the digital assets 
space by investing in decentralised platforms and protocols that are emerging 
to form new financial and internet infrastructures. 
 
www.KR1.io 
 
 
 
END 
 
 

(END) Dow Jones Newswires

April 14, 2022 09:19 ET (13:19 GMT)

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