* Launch of Core Chain Validator Node: DeFi Technologies has deployed an
independent validator node on the Core Chain as part of its DeFi
Infrastructure business line.
* Strategic Collaboration: This initiative is part of the broader
collaboration with Core Foundation, which began with the development of
innovative Bitcoin ETPs, including Valour's Yield Bearing BTC ETP and a
novel Core ETP.
* Staking 1,498 BTC: DeFi Technologies, through its subsidiary Valour Inc.,
will stake 1,498 BTC, participating in non-custodial Bitcoin staking and
earning rewards from Core's consensus mechanism.
TORONTO, June 11, 2024 (GLOBE NEWSWIRE) -- DeFi Technologies Inc. (the "Company"
or "DeFi Technologies") (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial
technology company and the first and only publicly traded company that bridges
the gap between traditional capital markets, Web3 and decentralised finance is
pleased to announce that it has deployed a Core Chain validator node to act as
an independent validator for the network. The launch of the node is part of the
Company's DeFi Infrastructure business line, contributing to the mission of
decentralized finance. The Company will also stake 1,498 BTC on the Core Chain.
This initiative follows the strategic collaboration between DeFi Technologies
and Core Foundation, announced earlier this year on May 15, 2024, aimed first at
developing innovative Bitcoin Exchange Traded Products ("ETPs"). This
partnership included the launch of groundbreaking products such as Valour's
Yield Bearing BTC ETP and an upcoming novel CORE ETP, leveraging Core Chain's
unique blockchain features to introduce yield opportunities through BTC staking.
Core Chain is a cutting-edge, Bitcoin-powered, EVM-compatible blockchain that
integrates Bitcoin miners and BTC stakers into its security in exchange for
rewards. Validators are a fundamental component of Core's consensus mechanism,
Satoshi Plus consensus, responsible for validating transactions and producing
blocks on the Core network.
By processing transactions and participating in consensus, DeFi Technologies
will support the growth and performance of the Core Chain network. In connection
with running the node, DeFi Technologies can receive rewards from securing
transactions on Core Chain security. Additionally, the Company is participating
in staking 1,498 BTC, earning staking rewards through its wholly owned
subsidiary, Valour Inc.
Due to the unique nature of Core Chain's Satoshi Plus consensus, Bitcoin staking
is non-custodial, allowing any Bitcoin holder to earn yield by staking their
Bitcoin tokens without giving up custody.
"We are excited to take this significant step forward with the launch of our
Core Chain validator node," said Olivier Roussy Newton, CEO of DeFi
Technologies. "This initiative not only enhances our commitment to the
decentralized finance ecosystem but also strengthens our strategic partnership
with Core Foundation. By staking 1,498 BTC and participating in network
consensus, we are advancing our mission to bridge traditional finance with
innovative blockchain technology, specifically leveraging Bitcoin's potential.
This approach offers our investors unique exposure to yield and growth within
the digital asset space."
About Core
Core is a Bitcoin-powered and EVM-compatible layer-one blockchain responsible
for bringing Bitcoin finance to life with the first-ever non-custodial BTC
staking protocol and the world's first yield bearing BTC ETP with Valour. Core
is the most Bitcoin-aligned EVM blockchain with -50% of Bitcoin mining hash
power contributing to the network's security and over 2,800 BTC
(https://stake.coredao.org/) natively staked in exchange for unlocking Bitcoin
utility and rewards. This breakthrough has amassed a massive community of 2.3M
Twitter followers and 265k Discord members which has translated into millions of
Core adopters - over 18M unique addresses
(https://scan.coredao.org/chart/address) and 256M transactions
(https://scan.coredao.org/) since its mainnet launch in January 2023.
About DeFi Technologies
DeFi Technologies Inc. (CBOE CA: DEFI (https://www.neo.inc/en/live/security-
activity/DEFI#!/market-depth)) (GR: R9B (https://www.boerse-
frankfurt.de/equity/defi-technologies-inc-1)) (OTC: DEFTF
(https://finance.yahoo.com/quote/DEFTF/)) is a financial technology company that
pioneers the convergence of traditional capital markets with the world of
decentralized 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 experts with extensive
experience in financial markets and digital assets, we are committed to
revolutionizing the way individuals and institutions interact with the evolving
financial ecosystem. Join DeFi Technologies' digital community on Linkedin
(https://www.linkedin.com/company/defitechglobal/) and Twitter
(https://twitter.com/defitechglobal), and for more details, visit
https://defi.tech/
About Valour
Valour Inc. and Valour Digital Securities Limited (together, "Valour") 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. Valour is part of the asset management business line
of DeFi Technologies Inc. (CBOE CA: DEFI (https://www.neo.inc/en/live/security-
activity/DEFI#!/market-depth)) (GR: R9B (https://www.boerse-
frankfurt.de/equity/defi-technologies-inc-1)) (OTC: DEFTF
(https://finance.yahoo.com/quote/DEFTF/)).
In addition to their novel physical backed digital asset platform, which
includes 1Valour Bitcoin Physical Carbon Neutral
(https://valour.com/products/valour-bitcoin-carbon-neutral) ETP, 1Valour
Ethereum Physical Staking (https://valour.com/products/valour-ethereum-staking),
and 1Valour Internet Computer Physical Staking
(https://valour.com/products/valour-internet-computer-staking), Valour offers
fully hedged digital asset ETPs with low to zero management fees, with product
listings across European exchanges, banks and broker platforms. Valour's
existing product range includes Valour Uniswap (UNI
(https://valour.com/products/uniswap)), Cardano (ADA
(https://valour.com/products/cardano)), Polkadot (DOT
(https://valour.com/products/polkadot)), Solana (SOL
(https://valour.com/products/solana)), Avalanche (AVAX
(https://valour.com/products/avalanche)), Cosmos (ATOM
(https://valour.com/products/cosmos)), Binance (BNB
(https://valour.com/products/binance)), Ripple (XRP
(https://valour.com/products/valour-ripple)), Toncoin (TON
(https://valour.com/products/toncoin)), Internet Computer (ICP
(https://valour.com/products/valour-internet-computer)), Chainlink (LINK
(https://valour.com/products/valour-chainlink-link)) Enjin (ENJ
(https://valour.com/products/enjin)), Valour Bitcoin Staking (BTC
(https://valour.com/products/bitcoin-staking)), Bitcoin Carbon Neutral (BTCN
(https://valour.com/products/valour-bitcoin-carbon-neutral)), Valour Digital
Asset Basket 10 (VDAB10 (https://valour.com/products/valour-digital-asset-
basket)) and 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip
(https://valour.com/products/valour-stoxx-bitcoin-suisse-digital-asset-blue-
chip) ETPs with low management fees. Valour's flagship products are Bitcoin Zero
and Ethereum Zero, the first fully hedged, passive investment products with
Bitcoin (BTC (https://valour.com/products/valour-bitcoin)) and Ethereum (ETH
(https://valour.com/products/ethereum-zero)) as underlyings which are completely
fee free.
For more information on Valour, to subscribe, or to receive updates and
financial information, visit valour.com (https://valour.com/).
Cautionary note regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to statements regarding to launch of a Core Chain
validator note; staking of BTC within the Core Chain; the development and
listing of future ETPs; the regulatory environment with respect to the growth
and adoption of decentralized finance; the pursuit by the Company and its
subsidiaries of business opportunities; and the merits or potential returns of
any such opportunities. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company, as the
case may be, to be materially different from those expressed or implied by such
forward-looking information. Such risks, uncertainties and other factors
include, but is not limited the acceptance of Valour exchange traded products by
exchanges; growth and development of decentralised finance and cryptocurrency
sector; rules and regulations with respect to decentralised finance and
cryptocurrency; general business, economic, competitive, political and social
uncertainties. Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.
THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE
For further information, please contact:
Olivier Roussy Newton
Chief Executive Officer
ir@defi.tech (mailto:ir@defi.tech)
(323) 537-7681
Â