- Polygon's Technology is Empowering the Company's
MintCarbon.io Platform Through its Carbon-Neutral Blockchain
Network
- DeepMarkit is Collaborating with Polygon for Technical and
Business Support to Enhance the MintCarbon.io Platform
- Polygon's Blockchain Can Process up to 65,000 Transactions
per Second with Fees Costing Less than a Fraction of a
Cent
CALGARY,
AB, May 17, 2022 /CNW/ - DeepMarkit
Corp., ("DeepMarkit" or the "Company") (TSXV: MKT) (OTC: MKTDF)
(FRA: DEP), a company focused on transitioning the global carbon
offset market to the more accessible digital economy by minting
credits into non-fungible tokens ("NFTs"), is pleased to
announce it has entered into a strategic collaborative arrangement
(the "Collaboration") with Polygon, Inc. (MATIC)
("Polygon"), which is an Ethereum scaling platform
onboarding millions to Web3. DeepMarkit will leverage the power of
Polygon's carbon-neutral network to enable the minting of carbon
credits into NFTs on the blockchain via the Company's MintCarbon.io
platform, anticipated to launch by the end of May, 2022.
Under the Collaboration, DeepMarkit expects to benefit from
Polygon's technical and business support for the entire
MintCarbon.io platform. Polygon Studios, an organization onboarding
brands, developers, and creators to Web3 through investment,
marketing, and community support, will provide cross-promotional
assistance for MintCarbon.io by identifying opportunities for other
collaborations with new potential clients. Polygon is the
infrastructure development solution of choice for token minting
platforms such as MintCarbon.io because it is secure, fast, and
energy-efficient Polygon's blockchain enables single or small batch
transfers or retirements of carbon credit NFTs to be economically
viable as compared to on the Ethereum blockchain, where high
transaction fees mean that only large batch transfers or
retirements can be completed at a reasonable cost.
Polygon's consensus mechanism, which is the way that
transactions are written to the blockchain, is proof-of-stake
thereby making it a low emission solution compared to other
blockchains like Bitcoin or Ethereum. Polygon recently became
carbon-neutral, and has committed to going 'carbon negative' in
2022, which aligns strongly with DeepMarkit's values.
Polygon is a layer-2 scaling solution that works on top of the
Ethereum blockchain According to Polygon, it can process up to
65,000 transactions per second with fees costing less than a
fraction of a cent, plus network fees. By processing batches of
transactions on its proprietary blockchain, Polygon enables
cost-effective and fast transaction turnaround times. More
information about Polygon can be accessed on its website via the
following link: https://polygon.technology/
Management Commentary
Jaslyn Wang, APAC Growth at
Polygon said, "DeepMarkit's delivery of MintCarbon.io's carbon
offset token platform produces a great synthesis with Polygon and
our sustainability goals. Minting carbon offset NFTs to build out a
more accessible carbon offset market also aligns with Polygon's
broader ambition to furnish environmental-focused projects with the
tools they need to thrive."
"Establishing a strategic relationship with Polygon was an easy
decision for DeepMarkit and it is enabling our MintCarbon.io
platform to handle higher transaction volumes at a lower cost. In
recent years, scalability issues plagued many cryptocurrency and
blockchain projects, but Polygon has developed a solution via its
product suite for efficiently scaling Ethereum applications. With
the launch of MintCarbion.io drawing near, this Collaboration is
ultimately expected to benefit current offset holders who are
waiting to come onto our platform and projects generating new
carbon offset credits worldwide on an ongoing basis," added
Ranjeet Sundher, Interim CEO of
DeepMarkit.
ABOUT DEEPMARKIT
DeepMarkit Corp. is a company focused on transitioning the
global carbon offset market to the more accessible digital economy
by minting credits into NFTs. Its common shares are listed on the
TSX Venture Exchange under the "MKT" stock symbol. DeepMarkit's
wholly owned subsidiary, First Carbon Corp. ("FCC"), is a
software infrastructure company operating in the tokenization
vertical of the blockchain. FCC's primary asset, MintCarbon.io, is
a web-based, software-as-a-service platform that facilitates the
minting of carbon credits into NFTs (based on the ERC-1155
standard) or other secure tokens (based on the ERC-20 standard).
MintCarbon.io is currently undergoing testing and FCC anticipates
an official launch of the platform in the near future.
On behalf of:
DEEPMARKIT CORP.
"Ranjeet Sundher"
Ranjeet Sundher, Interim CEO
Neither the 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 news release.
CAUTIONARY STATEMENT
Statements in this press release may contain forward-looking
information. Any statements that are contained in this press
release that are not statements of historical fact may be deemed to
be forward-looking statements, including statements relating to the
Company's business and corporate plans. The reader is cautioned
that assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of DeepMarkit.
Factors that could cause the actual results to differ materially
from those in forward-looking statements include, but are not
limited to delay in launching the MintCarbon.io platform, and
failure to realize any of the anticipated benefits expected to be
received by DeepMarkit from the collaboration with Polygon, whether
such benefits are explicitly stated herein, or implied. The reader
is cautioned not to place undue reliance on any forward-looking
information.
The forward-looking statements contained in this press release
are made as of the date of this press release and DeepMarkit does
not undertake any obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
securities law.
SOURCE DeepMarkit Corp.