VANCOUVER, British Columbia, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Neptune Dash Technologies Corp. (“Neptune” or the “Company”) (TSX.V:DASH) (OTC:NPPTF) (FSE:1NW) is pleased to provide an update on corporate strategy.
Over the last 6 to 12 months, Neptune has commenced a methodical diversification strategy into other top market cap tokens dominated by Bitcoin and Cosmos ATOM. In order to remove the risk of a single token and take advantage of the exciting DeFi space which now shows tremendous potential to generate income on tokens other than DASH, the Company felt it is advantageous to hold a portfolio of cryptocurrencies, mainly Bitcoin, Cosmos ATOM and of course DASH. As of the date of this news release, the Company has substantially decreased its DASH token holdings to 6 Masternodes, much of the DASH tokens were traded for BTC which are earning 6.5% per annum substantially more than DASH in the form of Masternodes, and at a lower cost. Cosmos ATOM holdings remain staked and are earning upwards of 9% per annum which is periodically reinvested. The cryptocurrency market is a rapidly evolving environment and as such, in order to remain relevant and in growth mode, the Company must constantly adapt and change with the environment. The Company also holds several other cryptocurrencies including Fantom, Ethereum, Litecoin, Stellar, NEO, Omisego and QTUM.
The Company has invested $250,000 USD of our DASH holdings into Protocol Ventures Quant, a multi-strategy, quant driven digital asset hedge fund with a suite of market neutral, buy/hold, DeFi yield farming and HFT/market making strategies aimed at delivering superior risk adjusted returns. In a highly volatile and dynamically evolving emerging asset class like cryptocurrency, we believe that active management by a Silicon Valley based team of veteran fund managers with domain specific expertise, disproportional access to deal flow and successful track records in cryptocurrency dating back to 2013, adds smart, complementary exposure to our existing holdings. The Protocol Ventures Quant team is led by Harry Yeh, Nabeel Qadri and Rick Marini, a team with a combined three prior crypto funds under management, three successful company exits, and 25+ years of experience in Silicon Valley. The Company expects to continue to add to it’s investment with Protocol
“We are extremely pleased with the performance of Bitcoin over the last 6 months proving the move from DASH to BTC many months ago to be a valuable one. We see a bright future for cryptocurrency market and we will continue to optimize, diversify and stake assets in order to maximize revenues and gains for shareholders. We will focus on remaining the lowest cost and perhaps the only, diversified, publicly traded cryptocurrency Company on the TSX-V. We truly appreciate our shareholders and thank them for staying onboard over the last few years as the cryptocurrency market matures and develops,” stated Cale Moodie, the Company’s CEO.
About Neptune Dash Technologies Corp.
Neptune primarily invests in blockchain related technologies and tokens. Neptune Stake is a wholly owned subsidiary of Neptune 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
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.
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.