Neptune Dash Announces Intent To Launch Cosmos Validator and Corporate Update
VANCOUVER, May 28, 2019 – 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.”
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).
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
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 Satements
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.