Advanced Blockchain : Has Invested in Element Finance Via its Subsidiary
October 20, 2021 at 02:54 am EDT
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DGAP-News: Advanced Blockchain AG
/ Key word(s): Cryptocurrency / Blockchain/Expansion
Advanced Blockchain AG Has Invested in Element Finance Via its Subsidiary
20.10.2021 / 08:52
The issuer is solely responsible for the content of this announcement.
Advanced Blockchain AG (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) has invested via a subsidiary into Element Finance, an open source protocol for fixed and variable yield markets in decentralized finance (DeFi). The project closed their Series A by successfully raising $32 million at a $320 million valuation, of which Advanced Blockchain AG, through its subsidiary invested a 7 figure amount, positioning Advanced Blockchain AG as one of the largest investors in the round. The Series A was led by a16z (Andreesen Horowitz) and Polychain Capital. Angel investors included Rune Christensen of MakerDAO; Stani Kulechov, the founder of Aave; Fernando Martinelli, the founder of Balancer; Santiago Santos, and many others.
The Element Protocol maximizes capital efficiency, creates market liquidity, and reduces user costs. Users can purchase popular cryptocurrencies at a discount without being locked into a fixed term. This allows a fixed-rate income and enhanced capital efficiency to be secured. More information about Element Finance and its protocol can be found on the Element Finance website (https://www.element.fi/).
DeFi-based fixed rate instruments are still in their nascent stages, yet will ultimately prove to be an integral asset class within the burgeoning DeFi ecosystem. Given the team's pedigree, proven ability to execute, and strong base of supporters, it is clear no team is better positioned to herald in new asset constructs into DeFi.
Advanced Blockchain will provide unique value to the Element Finance team by integrating the team into its "Ecosystem-as-a-Service" (EaaS) model, where the organization plans on building products on top of the Element Finance software development kit (SDK). In addition, Advanced Blockchain plans to integrate Element Finance into numerous portfolio and incubated companies, catalyzing growth and expansion across Advanced Blockchain AG's portfolio.
Additional information on Advanced Blockchain AG and its other projects and investments can be found at https://www.advancedblockchain.com/.
20.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Advanced Blockchain AG is a Germany-based information technology (IT) company. The Company specializes in blockchain, utilizing distributed ledger technology (DLT), while simultaneously further developing other technological solutions, such as directed acyclic graphs (DAG). The Company operates within four business fields: DLT Consultancy, which offers businesses advice on how to apply DLT to their needs and provides the necessary know-how in the implementation process; Applications, which pursues further development and commercialization possibilities of the DAG technology and includes the Company's research activities; Development for third parties, which involves creating dedicated software on order, ranging from minor business process optimizations to full renewal of the business model based on the DAG technology, and Software as a Service (SaaS), which provides decentralized data processing and hosting services in exchange for a license fee.
ADVANCED BLOCKCHAIN AG 
