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EQS-News: Advanced Blockchain AG
/ Key word(s): Cryptocurrency / Blockchain
Advanced Blockchain deploys $100,000 worth of $DAI to farm AO tokens October 10, 2024 - Advanced Blockchain AG (‘AB’, Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator and investor in the blockchain industry, has invested $100,000 in $DAI stablecoins to farm AO tokens. The AO protocol offers a decentralized computational environment with enhanced capabilities for Web3, built on Arweave. The AO tokens exhibit strong profitability potential for several reasons. Farming AO offers competitive annual percentage yields (APY) based on the projected Fully Diluted Valuation (FDV) of the AO protocol, positioning it as an attractive opportunity to other existing staking and farming options in the market. Given that Arweave's market capitalization has historically peaked at over USD 3 billion, AO is expected to follow a similar trajectory of success. Furthermore, the tokenomics of AO closely resemble those of Bitcoin, featuring a capped supply of 21 million tokens, emphasizing token scarcity. About AO and the farming process The minting process has already commenced, with $100,000 worth of $DAI locked into AO’s audited smart contract to farm the AO tokens. Advanced Blockchain will receive a percentage share of the newly minted AO tokens, generated every five minutes. These $DAI tokens will remain locked in the contract until approximately February 8, 2025, when AO tokens are expected to become tradable. At that time, Advanced Blockchain will withdraw the $DAI tokens from the contract. Hatem Elsayed, COO of Advanced Blockchain AG, comments: “AO farming is the first of several strategic initiatives we will roll out soon, aimed at optimizing the capital efficiency of our undeployed funds. By actively engaging in farming activities such as AO, we are not only enhancing liquidity management but also diversifying our revenue streams. This initiative aligns with our broader strategy to capitalize on emerging opportunities within the blockchain ecosystem, enabling Advanced Blockchain to generate sustainable, long-term value for our shareholders.” The decision to deploy capital to farming AO tokens is part of the group's broader treasury management strategy, aimed at effectively utilize idle liquidity. Combined with other liquidity management initiatives, this approach will enable Advanced Blockchain to generate a steady passive income from its deployed capital. The group now has direct exposure to the AO token and indirect involvement via its holding in the Permanent Ventures Fund.
About Advanced Blockchain AG: For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
10.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Advanced Blockchain AG |
| Scharnhorststraße 24 | |
| 10115 Berlin | |
| Germany | |
| Phone: | +4930403669510 |
| Fax: | +4930403669511 |
| E-mail: | info@advancedblockchain.com |
| Internet: | www.advancedblockchain.com |
| ISIN: | DE000A0M93V6 |
| WKN: | A0M93V |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2005627 |
| End of News | EQS News Service |
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2005627 10.10.2024 CET/CEST
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