Neptune Dash Announces Launch of Cosmos Network Validator and Investment into Cosmos Atom
June 03 2019 - 9:00AM
Neptune Dash Technologies Corp. (“Neptune Dash” or the “Company”)
(TSX.V:DASH) (OTC:NPPTF) (FWB:1NW) is pleased to provide an update
to last week’s announcement regarding its intent to launch a Cosmos
Validator and add Cosmos ATOM to its portfolio of crypto assets.
Neptune Dash has launched a Cosmos Network
Validator and secured enough delegations to put it in the 47th spot
on the exclusive list of 100 network validators. The Company’s
validator currently has 315,271 ATOM delegated to it (approximately
$2.5 million CAD). Neptune Dash will earn a reward of roughly 1.5%
per year from any ATOM delegated to it. The Company’s goal is to
attract additional delegators from the $1.55 billion CAD Cosmos
Network and rapidly increase this revenue stream.
Delegators play a vital role in the Cosmos
Network. The main task of delegators is to distribute voting power
among validators, which helps decentralize Cosmos. Anyone who owns
ATOM can choose a validator to delegate their stake and will earn a
10-15% annual return in ATOM for doing so. Validators charge a fee
to delegators for their services.
In addition, Neptune Dash has purchased 33,159
ATOM at an average purchase price of $4.88 USD. These ATOM are
delegated to the Company’s validator and earn approximately 15% in
network rewards per year. The Company intends to increase its
ownership of ATOM over time through both Validator rewards and
occasional strategic purchases.
The Company’s validator can be viewed in detail
on the cosmos network at the following link:
https://www.mintscan.io/validators/cosmosvaloper1k447djp2qrfk8pl44vd02qdlld2asjeepjxsep
“We are very excited regarding Cosmos and how
quickly it is moving up the ranking of crypto market
capitalization. Certainly, the most strategic position for Neptune
is to run one of the top ranked, most reliable and well known
Validators in the ecosystem and the fact that we are already 47th
out of 100 shows that we are quickly moving down that path, stated
Cale Moodie, Neptune Dash CEO. We are committed to adding crypto
assets to our balance sheet through Masternodes and now through our
Validator, while keeping our operating costs as low as
possible.”
The Cosmos network was announced in 2017 and it
launched in 2019. It is a third-generation blockchain network with
significant improvements over both first-generation (e.g., Bitcoin)
and second-generation (e.g., Ethereum) networks. Cosmos is a proof
of stake network that solves fundamental challenges in both scaling
and transaction volume which have been holding back current
networks.
Governance of the Cosmos network is maintained
through 100 exclusive validators. These validators require a high
level of expertise and security to operate and they form the
backbone of the network. All block rewards and transaction fees on
the Cosmos network, from the approximately $75,000,000 USD in daily
transaction volume, are distributed among these 100 validators.
About Neptune Dash Technologies
Corp.
Neptune Dash primarily builds and operates Dash
Masternodes and invests in blockchain related technologies. Dash is
a digital currency created to address Bitcoin's scaling challenges.
Neptune Stake is a wholly owned subsidiary of Neptune Dash and adds
diversification to the Company’s cryptocurrency portfolio by
investing in Proof of Stake tokens and their associated blockchain
technologies.
For further information please
contact:
Neptune Dash Technologies Corp. Cale Moodie, President and CEO
Phone: (604) 319-6955 Email: info@neptunedash.com
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward-Looking Statements
This release contains certain “forward looking
statements” and certain “forward-looking information” as defined
under applicable Canadian securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”
or similar terminology. Forward-looking statements and information
include, but are not limited to, the continued success of the
Company’s pooling service and anticipated revenues from such
services; the value of the Company’s digital currency inventory;
the business goals and objectives of the Company, and information
concerning the intentions, plans and future actions of the parties
to the transactions described herein and the terms thereon.
Forward-looking statements and information are based on forecasts
of future results, estimates of amounts not yet determinable and
assumptions that, while believed by management to be reasonable,
are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Forward-looking
statements and information are subject to various known and unknown
risks and uncertainties, many of which are beyond the ability of
the Company to control or predict, that may cause the Company’s
actual results, performance or achievements to be materially
different from those expressed or implied thereby, and are
developed based on assumptions about such risks, uncertainties and
other factors set out here in, including but not limited
to: the inherent risks involved in the
cryptocurrency and general securities markets; the Company’s
ability to successfully mine digital currency; revenue of the
Company may not increase as currently anticipated, or at all; the
Company may not be able to profitably liquidate its current digital
currency inventory, or at all; a decline in digital currency prices
may have a significant negative impact on the Company’s operations;
the volatility of digital currency prices; uncertainties relating
to the availability and costs of financing needed in the future;
the inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, currency fluctuations;
regulatory restrictions, liability, competition, loss of key
employees and other related risks and uncertainties. The Company
undertakes no obligation to update forward-looking information
except as required by applicable law. Such forward-looking
information represents management's best judgment based on
information currently available. No forward-looking statement can
be guaranteed and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
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