DeFi Technologies Inc. (NEO: DEFI) (GR: RB9) (OTC: DEFTF), a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance, is pleased to announce that it has completed the acquisition of intellectual property from prominent Solana developer Stefan Jørgensen. This Acquisition marks a significant milestone in DeFi Technologies’ expansion strategy, focusing on enhancing its offerings in the Solana ecosystem.
The IP acquired by DeFi Technologies encompasses a suite of sophisticated features including advanced liquidity provisioning, innovative trading strategies and technologies, along with the distribution, management, and analytics of decentralized financial data. These elements are tailored to support the Solana-focused trading desk operated by both DeFi Technologies and Valour Inc. This acquisition positions DeFi Technologies to significantly elevate its capabilities, offering cutting-edge trading solutions and unique strategies specifically designed for Solana, a blockchain platform rapidly gaining recognition for its outstanding performance capabilities.
Mr. Stefan Jørgensen, who has played a pivotal role in developing this IP, joins the DeFi Technologies group. He will take the lead in driving the Company’s expansion in DeFi Trading, development, and governance. Mr. Jørgensen’s notable background includes being a part of the initial engineering team at Bitcoin Suisse from 2017 to 2021, where he contributed to the development of a high-security digital asset custody and a core banking system for cryptocurrencies. Additionally, from 2021 to 2023, he was involved in creating various types of smart contracts across different blockchains, including financial contracts like those for trading and settling options on the Solana blockchain. DeFi Technologies plans to expand its team and intensify its efforts in DeFi trading, development, and governance, specifically in areas relating to the newly acquired IP.
Solana is a cornerstone in Valour Inc.’s asset management, leading the Company’s Assets Under Management (“AUM“). As a blockchain platform, Solana stands out for its high performance, characterized by swift and efficient processing capabilities. It is adeptly engineered to support decentralized applications (dApps) and cryptocurrencies. The platform’s distinctive consensus mechanism, Proof of History (PoH) in conjunction with Proof of Stake (PoS), underpins its ability to process transactions rapidly. This feature positions Solana as an attractive option for developers and users who prioritize speed and cost-effectiveness in blockchain solutions. Currently, Solana boasts a market capitalization of approximately $45.7 billion, placing it as the fifth-largest cryptocurrency in the global market.
“This strategic acquisition of Solana-based intellectual property is a key milestone for DeFi Technologies and Valour, significantly enhancing our capabilities in the decentralized finance landscape,” said Olivier Roussy Newton, CEO of DeFi Technologies. “By integrating this advanced technology, Valour is positioned to deliver superior trading solutions, demonstrating our commitment to leveraging cutting-edge innovations for tangible benefits in our Solana ecosystem offerings.”
Pursuant to the Agreement, DeFi Technologies issued a total of 7,297,090 common shares of the Company (the “Payment Shares“) at a deemed price of $0.55 per Payment Share to Mr. Jørgensen in exchange for all of the IP. The Payment Shares are subject to a lock-up and will be released in five tranches over a period of two years, and be subject to the continued involvement of Mr. Jørgensen with DeFi Technologies and its subsidiaries. No finder fees were paid in connection with the Acquisition.
DeFi Technologies Inc. (NEO: DEFI) (GR: RB9) (OTC: DEFTF) is a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (DeFi).
With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of professionals with extensive experience in financial markets and digital assets, we are committed to revolutionising the way individuals and institutions interact with the evolving financial ecosystem.
Valour Inc. issues exchange traded products (ETPs) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account. Established in 2019, Valour is a wholly owned subsidiary of DeFi Technologies Inc. (NEO: DEFI) (GR: RB9) (OTC: DEFTF).
For more information on Valour, visit https://valour.com