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DJ KR1 plc Investments: Nym, Nexus and Alice

 
TIDMKR1 
 
KR1 Plc 
 
                           ("KR1" or the "Company") 
 
                       Investments: Nym, Nexus and Alice 
 
Nym 
 
KR1 plc (NEX:KR1), a leading digital asset investment company announces that it 
has contributed a total of CHF150,000 into the Nym Protocol project ("Nym") for 
a yet-to-be-determined number of discounted tokens. Nym uses mix networks 
("mixnets") to create privacy at the lowest layer in the internet 
infrastructure stack, often referred to as the networking layer. 
 
Nym is an open-source, decentralised and incentivised network that will allow 
developers to build applications that provide users with strong guarantees 
against metadata leakage, at the level of network traffic, authentication and 
payments. While there may be privacy-based cryptocurrencies or messaging 
systems in existence today, given that those rest on top of an easily trackable 
networking layer, important metadata is being leaked and can be analysed to 
fully track the global data flow. Inspired by Bitcoin's incentive design, Nym's 
breakthrough incentivised Proof-of-Stake system rewards nodes for mixing 
traffic rather than solving arbitrary Merkle puzzles. 
 
Nym was founded by highly regarded privacy, mixnet and blockchain researchers, 
who have a history of innovation in the early internet and well-respected 
publications in privacy and mixnet academia including Harry Halpin, Claudia 
Diaz and Ania Piotrowska. Another co-founder is Dave Hrycyszyn, who previously 
co-founded Chainspace and briefly joined the Facebook Blockchain team after 
Chainspace was acquired by Facebook earlier this year. The Nym project started 
out in the  Binance Labs Incubation program and features some previous work of 
the EU-funded, Panoramix project. 
 
Harry Halpin commented "It's great to have the support of KR1, as one of the 
first blockchain investment companies in the world, their network and expertise 
has already proven very useful. They've also backed many projects close to our 
hearts including Grin, Chainspace and Polkadot. We're proud to have Nym take a 
place in their portfolio and with our London office opening soon, we look 
forward to being able to spend more time with KR1, Binance Labs, 1kx and all 
our other supporters." 
 
Nexus 
 
The Company is also pleased to announce that KR1 has made an additional 
investment into Nexus Mutual ("NXM") after the product launched, having 
initially taken part in the seed round announced in April 2018. The Company 
invested a further USD73,823 in Nexus Mutual at a price of  USD2.53 per NXM 
token for an additional 29,182.9 NXM tokens. 
 
KR1 received 110,776 NXM for its seed round participation at a price of USD 
2.28 per NXM token in April last year, as well as bonus tokens amounting to 
5,836.6 NXM tokens for being an Etherisc ("DIP") investor, given the synergies 
of both projects in the insurance space. KR1 now holds a total of 145,795.5 NXM 
tokens. 
 
Nexus Mutual uses Ethereum to recreate the mutual insurance company model on a 
large scale. The platform will bring together people from all over the world to 
share risk together without the need for an insurance company. The first 
product is cover for smart contracts, adding an extra layer of assurance, an 
extremely important element in the blockchain stack and incentivising smart 
contract security auditors to stake their reputations against prominently used 
smart contracts. Nexus Mutual is run entirely by its members with all member 
decisions being recorded and enforced by smart contracts. 
 
Since launch Nexus Mutual has written over USD750,000 worth of cover and has 
grown its capital pool to more than 9,000 ETH. 
 
Alice.si 
 
KR1 has also invested GBP70,128 into Alice Si Ltd. ("Alice") for 1,522,493 
ordinary shares, representing 1.33% of the share capital of Alice. Alice is a 
social funding and impact management platform built on Ethereum that is fixing 
the broken social funding model with blockchain technology. 
 
Millions of dollars in social funding are wasted every year through diffuse and 
ineffective allocation, which has made people lose trust in the system 
resulting in a stagnant social funding environment. Some smaller but effective 
social projects often struggle to scale because they do not have enough 
visibility. By making the performance of each project publicly available, Alice 
is making it easier for funders (philanthropic organisations, impact investors, 
small donors) to identify and help scale social projects that actually work. 
Using smart contracts built on Ethereum, Alice provides social impact projects 
with the possibility to gain funding with a system that releases tranches of 
capital only once the project's aims and targets have independently verified as 
complete while at the same time initiating new markets for social impact 
investing. 
 
 
George McDonaugh, Chief Executive Officer, commented: "In line with our 
investment strategy to grow our portfolio and build shareholder value, we are 
very encouraged by how blockchain technology is developing as we continue to 
see powerful decentralised platforms and applications come to market, the ones 
mentioned above being prime examples. All have very dedicated teams with strong 
expertise in their respective fields. Privacy is a key aspect of our lives, 
especially as we continue the move towards an ever more digital future and 
social impact projects have never been more important as we tackle climate 
change and inequality around the world. It's a testament to the power of 
blockchain technology that these vital areas of our lives can potentially be so 
greatly enhanced by this technology. We look forward to being alongside all 
projects as they deliver their visions." 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
                                   --ENDS-- 
 
For further information please contact: 
 
KR1 PLC 
George McDonaugh                            +44 (0)16 2467 6716 
Stephen Corran                              stephen@kr1.io 
 
Peterhouse Capital Limited (NEX Corporate 
Adviser)                                    +44 (0)20 7469 0934 
Fungai Ndoro 
Mark Anwyl 
 
Nominis Advisory Ltd (PR Adviser) 
Angus Campbell                              pr@kr1.io 
 
ENDS 
 
About KR1 plc 
 
KR1 is a leading digital asset investment company supporting early stage 
decentralised and open source blockchain projects. Founded in 2016 and publicly 
traded in London (NEX:KR1), KR1 has built a notable reputation for generating 
significant returns by investing in many key projects that are designed to 
power the decentralised platforms and protocols that are emerging to form new 
internet infrastructures. 
 
www.KR1.io 
 
 
 
END 
 

(END) Dow Jones Newswires

September 04, 2019 02:00 ET (06:00 GMT)