Neptune Dash Commences Incubation of Neptune Stake and Intends to Spin Out First Proof-of-Stake Mining Company
VANCOUVER, British Columbia, April 04, 2018 (GLOBE NEWSWIRE) — Neptune Dash Technologies Corp. (“Neptune Dash” or the “Company”) (TSX.V:DASH) (OTC:NPPTF) is pleased to announce that, further to its news release on February 28, 2018, it has acquired $200,000 to-date in cryptocurrency assets through a wholly-owned subsidiary named Neptune Stake Technologies Corp. (“Neptune Stake”), and commenced a staking network operation that will stake Bitcoin, Ethereum, Litecoin, Stellar, EOS, Cardano, NEM, NEO, and Dash in order to earn income, among other proof-of-stake blockchains. Neptune Stakes strategy is to identify those cryptocurrency assets within the top 20 blockchains by market capitalization, and stake them on the blockchain. Neptune Stake seeks to create a rebalancing portfolio of staked cryptocurrency assets where investors receive a return on investment proportional to the total cryptocurrency market capitalization.
Cale Moodie, President and CEO states, “In spite of the general crypto market pullback we have been able to significantly cut costs related to Masternode hosting and operations. In addition to our Masternode revenues, we are very excited to provide existing shareholders with substantial upside exposure to a diverse portfolio of cryptocurrency and reinvested income through our proof of stake operations subsidiary.”
Neptune announces that its common shares are quoted on the OTC under trading symbol “NPPTF”.
Neptune builds and operates Dash Masternodes and invests in Dash Blockchain related technologies. Neptune currently operates 18 Dash Masternodes and has earned 289.2 Dash from operations to-date and holds a total of approximately 18,300 Dash, as each Dash Masternode requires 1,000 Dash as collateral. The Dash Blockchain currently compensates Dash Masternodes at a rate of 6.9 Dash per month or about 8.5% annually.
About Neptune Dash Technologies Corp.
Neptune Dash builds and operates Dash Masternodes and invests in Dash blockchain related technologies. Dash is a digital currency created to address Bitcoin’s scaling challenges. Dash Masternodes facilitate the following functions on the Dash blockchain:
- facilitating private, peer-to-peer transactions directly between parties;
- serving as a governance function and voting on treasury disbursements of the Dash block-reward allocated to the Dash DAO (Decentralized Autonomous Organization); and
- facilitating transactions that are processed near instantly on the Dash blockchain (versus the target three minute block time for average Dash transactions).
For further information please contact:
Neptune Dash Technologies Corp.
Cale Moodie, President and CEO
620 – 1155 West Pender Street,
Vancouver, BC V6E 2P4
Phone: (604) 319-6955
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to the viability of proof-of-stake mining, commencing the mining of Ethereum, EOS and Cardano, that Ethereum, EOS and Cardano will proceed with protocol implementations that include proof-of-stake mining; the Company’s projected asset allocations; business strategy and investment criteria; corporate governance standards applicable to cryptocurrencies; the rate of cryptocurrency adoption and the resultant effect on the growth of the global cryptocurrency market capitalization. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the construction and operation of proof-of-stake mining may not occur as currently planned, or at all; the digital currency market; the Company’s ability to successfully operate Neptune Dash and Neptune Stake and securely custody digital asset coins; 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; and other related risks as more fully set out in the Listing Application of the Company dated January 15, 2018.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to complete the construction and operation of mining operations; the Company will be able to profitably liquidate its digital currency inventory if required; historical prices of digital currencies and the ability of the Company to securely custody the digital assets required to operate each proof-of-stake miner; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
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.