DeFi Technologies Subsidiary Valour Inc. Launches World's First
Yield Bearing Bitcoin (BTC) ETP in Collaboration with Core
Foundation, Offering Investors Exposure to Bitcoin with a 5.65%
Yield
DeFi Technologies Inc. (the “
Company” or
“
DeFi Technologies”) (CBOE CA: DEFI) (GR: R9B)
(OTC: DEFTF), a financial technology company that pioneers the
convergence of traditional capital markets with the world of
decentralised finance (“
DeFi”), is pleased to
announce that its subsidiary Valour Inc.
("
Valour"), a leading issuer of exchange traded
products ("
ETPs") that provide simplified access
to digital assets, has launched the world's first yield-bearing
Bitcoin (BTC) ETP in collaboration with the Core Foundation, an
organization dedicated to the development of the Core blockchain
network ("Core Chain"). This offering provides investors exposure
to Bitcoin with a 5.65% yield on the Nordic Growth Market (NGM)
exchange.
The Core blockchain network is a Bitcoin-powered
layer-one blockchain for EVM-Compatible smart contracts. With 50%
of Bitcoin mining hash power contributing to Core's security in
exchange for unlocking Bitcoin utility and rewards, Core Chain is
the most Bitcoin-aligned EVM blockchain (BTCfi, Bitcoin staking,
and more).
Trading of the Valour Bitcoin Staking (BTC) SEK
ETP (ISIN: CH1213604536) commenced on May 10, 2024 with a 1.9%
management fee, marking a historic moment as the world's
first-of-its-kind Yield Bearing Bitcoin ETP. This innovative
offering allows investors to gain exposure to Bitcoin while
receiving a remarkable 5.65% yield, all without the need to sell or
trade Bitcoin directly.
Valour Bitcoin Staking (BTC) SEK ETP simplifies
investment in the world’s best-known digital asset, making it
easier and more secure for investors to participate in Bitcoin's
potential upside. The yield is attributed to the Net Asset Value
(NAV) on a daily basis, providing investors with yield without
needing to sell or trade their Bitcoin holdings.
Valour Bitcoin Staking (BTC) SEK ETP generates
yield by delegating Bitcoins to a validator on the Core Chain
through non-custodial, native Bitcoin staking. Staked Bitcoins
receive staking rewards in the form of CORE tokens, which are then
reinvested into the product.
Core Chain, the underlying blockchain, is a
Bitcoin-powered, decentralized, secure, and scalable layer 1
blockchain compatible with the Ethereum Virtual Machine (EVM). It
is supported by Bitcoin's Proof of Work (PoW) through a unique
consensus mechanism known as 'Satoshi Plus'. This mechanism enables
Bitcoin miners to delegate their PoW (DPoW) to Core validators
without impacting their future Bitcoin rewards, thereby unlocking
the potential of Bitcoin-secured decentralized applications.
Despite engaging in Bitcoin staking, security
remains uncompromised. Custodial control is maintained while yield
is generated. Bitcoins are staked through a specific type of native
Bitcoin transaction called a ‘stake transaction’, which includes a
lockup period and Core Chain staking details such as the Core
Validator and the Core reward address. During the lockup period,
the Bitcoins cannot be transferred or slashed. Only the owner can
transfer the Bitcoins once the lockup period expires.
"We are thrilled to introduce the world's first
Yield Bearing Bitcoin ETP, offering investors an unprecedented
opportunity to gain exposure to Bitcoin while earning a substantial
yield," said Olivier Roussy Newton, CEO of DeFi Technologies.
"Valour Bitcoin Staking (BTC) ETP embodies our commitment to
innovation in the digital asset space, providing investors with a
seamless and secure way to participate in Bitcoin's growth
potential while offering a novel investment avenue for engaging
with the world's premier cryptocurrency.”
“Core Foundation is excited to collaborate with
Valour Inc. to launch the world’s first yield-bearing Bitcoin ETP.
This groundbreaking product brings BTCfi to a wider audience, and
sustainable yield to Bitcoin holders. Investors can now earn yield
while maintaining exposure to Bitcoin. This is enabled by
non-custodial Bitcoin staking which helps secure the Core
blockchain. Core Foundation is proud to be the first and most
reliable ecosystem to power these new offerings, underscoring Core
Chain’s position as the most Bitcoin-aligned blockchain,” said Core
contributor Brendon Sedo.
About DeFi TechnologiesDeFi
Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF) is a
financial technology company that pioneers the convergence of
traditional capital markets with the world of decentralized finance
(DeFi). With a dedicated focus on industry-leading Web3
technologies, DeFi Technologies aims to provide widespread investor
access to the future of finance. Backed by an esteemed team of
experts with extensive experience in financial markets and digital
assets, we are committed to revolutionizing the way individuals and
institutions interact with the evolving financial ecosystem. Join
DeFi Technologies’ digital community on Linkedin and Twitter, and
for more details, visit https://defi.tech/
About ValourValour Inc. and
Valour Digital Securities Limited (together,
“Valour”) issues exchange traded products
(“ETPs”) that enable retail and institutional
investors to access digital assets like Bitcoin in a simple and
secure way via their traditional bank account. Valour is part of
the asset management business line of DeFi Technologies Inc. (CBOE
CA: DEFI) (GR: R9B) (OTC: DEFTF).
In addition to their novel physical backed
digital asset platform, which includes 1Valour Bitcoin Physical
Carbon Neutral ETP, 1Valour Ethereum Physical Staking, and 1Valour
Internet Computer Physical Staking, Valour offers fully hedged
digital asset ETPs with low to zero management fees, with product
listings across European exchanges, banks and broker platforms.
Valour's existing product range includes Valour Uniswap (UNI),
Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX),
Cosmos (ATOM), Binance (BNB), Ripple (XRP), Toncoin (TON), Internet
Computer (ICP), Chainlink (LINK) Enjin (ENJ), Valour Bitcoin
Staking (BTC), Bitcoin Carbon Neutral (BTCN), Valour Digital Asset
Basket 10 (VDAB10) and 1Valour STOXX Bitcoin Suisse Digital Asset
Blue Chip ETPs with low management fees. Valour’s flagship products
are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive
investment products with Bitcoin (BTC) and Ethereum (ETH) as
underlyings which are completely fee free.
For more information on Valour, to subscribe, or to receive
updates and financial information, visit valour.com.
About Reflexivity ResearchReflexivity Research
LLC is a leading research firm specializing in the creation of
high-quality, in-depth research reports for the bitcoin and
cryptocurrency industry, empowering investors with valuable
insights. For more information please visit
https://www.reflexivityresearch.com/
About Core ChainThe Core
blockchain network is a Bitcoin-powered layer-one blockchain for
EVM-Compatible smart contracts. With 50% of Bitcoin mining hash
power contributing to Core’s security in exchange for unlocking
Bitcoin utility and rewards, Core is the most Bitcoin-aligned EVM
blockchain (BTCfi, Bitcoin staking, and more). This breakthrough
has amassed a massive community of 2.2M Twitter followers and 250k
Discord members which has translated into millions of Core
adopters, over 15M unique addresses, and 230M transactions since
its mainnet launch in January 2023.
Cautionary note regarding
forward-looking information: This press release contains
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information
includes, but is not limited to future development and listings of
ETPs; staking of Bitcoin within the Core Chain; development and
management of a validator node on the Core Chain; the regulatory
environment with respect to the growth and adoption of
decentralized finance; the pursuit by DeFi Technologies and its
subsidiaries of business opportunities; and the merits or potential
returns of any such opportunities. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of the Company, as the case may be, to be
materially different from those expressed or implied by such
forward-looking information. Such risks, uncertainties and other
factors include, but is not limited the acceptance of Valour ETPs
by exchanges and regulatory authorities; growth and development of
DeFi and cryptocurrency sector; rules and regulations with respect
to DeFi and cryptocurrency; general business, economic,
competitive, political and social uncertainties. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
THE CBOE CANADA EXCHANGE DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE
For further information, please
contact:
Olivier Roussy NewtonChief Executive
Officerir@defi.tech (323) 537-7681
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/64facd4a-52e3-4a74-8c5a-bd8ceeabac94
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