Composable Finance, an Advanced Blockchain investment, now has a 350 million dollar valuation of its LAYR token after officially securing a Polkadot Parachain

By January 14, 2022Layer2
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DGAP-News: Advanced Blockchain AG / Key word(s): Cryptocurrency / Blockchain/Expansion
Composable Finance, an Advanced Blockchain investment, now has a 350 million dollar valuation of its LAYR token after officially securing a Polkadot Parachain

14.01.2022 / 09:13
The issuer is solely responsible for the content of this announcement.

Composable Finance, an Advanced Blockchain investment, now has an implied 350 million dollar valuation of its LAYR token after officially securing a Polkadot Parachain.

Composable Finance (https://www.composable.finance), an investment and incubation through an Advanced Blockchain AG subsidiary (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), has successfully secured the 8th Parachain on the Polkadot network by raising over 160 Million USD into their crowdloan, resulting in an implied valuation of more than 350 Million USD for Composable's native Token LAYR. Advanced Blockchain through a subsidiary holds 5.7% of the Tokens now worth appr. 20 Million USD.

Advanced Blockchain was amongst the first investors in Polkadot's seed round, enabling cross-chain communication in blockchain since late 2017. Now the venture studio arm of Advanced Blockchain operates as a leading incubator of projects building on top of the Polkadot ecosystem, such as Composable. On top of that, the venture studio incubates projects like Instrumental Finance and Bribe in the rapid-growing Composable network.

Composable's slot provides the incubation now with rights to utilize and benefit from the Polkadot ecosystem, including a 20% participation in the continuously generated transaction fees of its Parachain until at least 2024. In the vast potential of the Polkadot ecosystem, these fees will generate significant capital flow, accelerating the development of Composable. This is an instrumental step towards unlocking the full potential of Composable Finance as they are now officially part of the Polkadot network with a current market capitalization of about 26 Billion USD. Composable is now one of 11 Parachains connected to Polkadot, whose users will all have access to the Composable Technology.

Advanced Blockchain has seen a substantial capital gain on their most significant investment of 2 Million USD at a 35 Million USD valuation in summer 2021, to now having the stake in Composable valued at almost 20 Million USD.

More about Advanced Blockchain AG:

Advanced Blockchain AG is a venture builder and investor in the blockchain industry equipped with a comprehensive team of researchers, developers, auditors, economists, and mathematicians dedicated to engineering the future of Web 3.0. Global, our group has more than 150 developers worldwide spanning disciplines that equip us to innovate in multiple ecosystems across the industry.

Additional information on Advanced Blockchain AG and its other projects and investments can be found at www.advancedblockchain.com.


14.01.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English
Company: Advanced Blockchain AG
Scharnhorststraße 24
10115 Berlin
Germany
Phone: +4930403669510
Fax: 030403669511
E-mail: info@advancedblockchain.com
Internet: www.advancedblockchain.com
ISIN: DE000A0M93V6
WKN: A0M93V
Listed: Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1268691

1268691 14.01.2022

© EQS 2022

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