Neptune Dash Announces Intent To Launch Cosmos Validator and Corporate Update
28 May 2019 - 11:00PM
Neptune Dash Technologies Corp. (“Neptune Dash” or the “Company”)
(TSX.V:DASH) (OTC:NPPTF) (FWB:1NW) is pleased to announce its
intent to launch a Cosmos Validator and add Cosmos Atoms to its
portfolio of crypto assets. It also intends to develop technologies
for the Cosmos ecosystem.
The Cosmos network was announced in 2017 and it
launched in 2019. It is a third-generation blockchain network with
significant improvements over both first-generation (e.g., Bitcoin)
and second-generation (e.g., Ethereum) networks. Cosmos is a proof
of stake network that solves fundamental challenges in both scaling
and transaction volume which have been holding back current
networks.
Governance of the Cosmos network is maintained
through 100 exclusive validators. These validators require a high
level of expertise and security to operate and they form the
backbone of the network. All block rewards and transaction fees on
the Cosmos network, from the approximately $75,000,000 USD in daily
transaction volume, are distributed among these 100 validators.
Neptune Dash will earn a commission from Cosmos Atom holders who
delegate their Atoms to the Neptune Dash validator, as well as
approximately 15% ROI on any Atoms that Neptune Dash owns.
Neptune Dash plans to launch its validator and
attract enough delegations from Atom holders to place its validator
in the exclusive top 100 list of validators on the Cosmos
network.
“We see substantial revenue opportunity through
the setting up of a Cosmos Validator and the acquisition of Atoms
within our wholly owned entity, Neptune Stake. This is exciting as
it enables us to earn roughly 15% rewards on unutilized Dash crypto
assets, as well as a portion of the transaction fees and block
rewards on the Cosmos network, stated Cale Moodie, Neptune Dash
CEO. This is in line with our objective of rapidly growing our
Cryptocurrency assets while maintaining existing Dash Masternodes
and the associated underlying asset base, all with the transparency
and security protocols of a public entity.”
Corporate Update
Other than disclosed herein and interpreted to
be material by the market, the Company announces that it is not
aware of any material undisclosed information that may be
contributing to the level of trading activity of its shares on the
TSX Venture Exchange (this information is being provided at the
request of the Market Surveillance group of the Investment Industry
Regulatory Organization of Canada).
About Neptune Dash Technologies
Corp.
Neptune Dash primarily builds and operates Dash
Masternodes and invests in blockchain related technologies. Dash is
a digital currency created to address Bitcoin's scaling challenges.
Neptune Stake is a wholly owned subsidiary of Neptune Dash and adds
diversification to the Company’s cryptocurrency portfolio by
investing in Proof of Stake tokens and their associated blockchain
technologies.
For further information please
contact:
Neptune Dash Technologies Corp. Cale Moodie, President and CEO
Phone: (604) 319-6955 Email: info@neptunedash.com
Neither 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 release.
Forward-Looking Statements
This release contains certain “forward looking
statements” and certain “forward-looking information” as defined
under applicable Canadian securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”
or similar terminology. Forward-looking statements and information
include, but are not limited to, the continued success of the
Company’s pooling service and anticipated revenues from such
services; the value of the Company’s digital currency inventory;
the business goals and objectives of the Company, and information
concerning the intentions, plans and future actions of the parties
to the transactions described herein and the terms thereon.
Forward-looking statements and information are based on forecasts
of future results, estimates of amounts not yet determinable and
assumptions that, while believed by management to be reasonable,
are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Forward-looking
statements and information are subject to various known and unknown
risks and uncertainties, many of which are beyond the ability of
the Company to control or predict, that may cause the Company’s
actual results, performance or achievements to be materially
different from those expressed or implied thereby, and are
developed based on assumptions about such risks, uncertainties and
other factors set out here in, including but not limited
to: the inherent risks involved in the
cryptocurrency and general securities markets; the Company’s
ability to successfully mine digital currency; revenue of the
Company may not increase as currently anticipated, or at all; the
Company may not be able to profitably liquidate its current digital
currency inventory, or at all; a decline in digital currency prices
may have a significant negative impact on the Company’s operations;
the volatility of digital currency prices; uncertainties relating
to the availability and costs of financing needed in the future;
the inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, currency fluctuations;
regulatory restrictions, liability, competition, loss of key
employees and other related risks and uncertainties. The Company
undertakes no obligation to update forward-looking information
except as required by applicable law. Such forward-looking
information represents management's best judgment based on
information currently available. No forward-looking statement can
be guaranteed and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
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