Advanced blockchain with significant progress in key holding companies

Advanced blockchain with significant progress in key holding companies

• Composable Finance plans to launch LAYR in 2023
• Krest, Peaq’s canary network, won the 72nd Kusama Parachain
• Panoptic carried out ABDK audit and collaborates with Simtopia.ai

April 13, 2023 – Advanced Blockchain AG (“AB”, Scale Frankfurt, primary market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator, architect and investor for the blockchain industry, publishes significant progress in its key holding companies. This becomes clear from the portfolio update AB shared with its investors, which covers the latest development of key holding companies in the portfolio during the 1st quarter of 2023.

Simon Telian, CEO of AB, comments: “The portfolio companies have continued to show growth and progress in their respective sectors, and we as a management team are very pleased with each individual development.”

The most relevant portfolio companies are briefly introduced below, along with key insights about their progress in Q1:

Composite finance [Incubation]

Composable Finance is building a solution to allow token holders to bridge their assets across multiple blockchains, including Ethereum, Polkadot and Cosmos (IBC), aiming to solve the problems DeFi solutions face in their currently siled environments .

Last year, the team collected 32 million US dollars in a series-A financing round.

The infrastructure initiative completed the collators aboard the Picasso parachain, continued with the mainnet launch by starting testing for the DOT/KSM bridge and launched the Apollo oracle on the mainnet in the recent runtime upgrade. With these achievements, the team is well on its way to meeting its recently announced roadmap and plans to launch LAYR this year.

Pendulum [Incubation]

Pendulum is an open source blockchain that aims to establish the missing link between the fiat and DeFi ecosystems through a fiat-optimized smart contract blockchain. It will allow connecting DeFi to the currency market, build automated market makers (AMMs) to introduce scalable liquidity pools for fiat currencies, and create monetization opportunities for fiat token holders.

Pendulum went live on the Polkadot mainnet. The team has also announced several strategic partnerships with GetPaid.Africa, MYKOBO and nTokens to expand its services and offer more opportunities for its users. In addition, the management team has been restructured with the appointment of new co-founders.

Panoptic [Incubation]

Built on Uniswap, Panoptic is the first decentralized options protocol to master the technically challenging task of implementation on the Ethereum blockchain. Uniswap has handled more than 1.3 trillion US dollars in transaction volume to date. Recently, the Panoptic team raised US$4.5 million in a seed round led by gumi Cryptos Capital (gCC).

Panoptic completed the initial audit with ABDK, and has partnered with Simtopia.ai to further research pan options. They are currently undergoing the second smart contract audit with OpenZeppelin, which will take a few months to complete.

DELV (formerly Element Finance) [Token Investment]

DELV creates a complete package of DeFi from infrastructure to structured products, the protocols are designed to work together to help create and usher in the new economic system.

Element Finance has rebranded as DELV and they released their Council Kit v.0.0.01. In addition, DELV is working with Spark to build a fixed-rate lending product on top of a Spark Lend marketplace.

The team previously raised US$32 million in a Series A funding round led by Polychain Capital.

Peak [Incubation]

peaq is the Web3 network that powers the Economy of Things (EoT) on Polkadot, the most environmentally friendly blockchain network. peaq enables entrepreneurs and developers to build decentralized applications for vehicles, robots and devices, while empowering users to control and profit as connected machines deliver goods and services.

Recently, the team raised US$6 million led by Fundamental Labs.

Krest, Peaq’s canary network, has won the 72nd Kusama parachain auction, raising 5522 KSM (about 190k US-Dollars) and will serve as the new home for DePIN, which connects IoT devices to the network. Also, bloXmovea joined peaq’s ecosystem as a layer-2 for mobility and loading of dApps.

All portfolio updates are available on the company website: https://www.advancedblockchain.com/blogs.

AB CEO Simon Telian concludes: “Advanced Blockchain continues to grow across different ecosystems and aims to provide its investors with access to its unique early deal flow.”

Finally, the day-to-day management intends to publish the group accounts for 2022 earlier than expected in the 2nd quarter of 2023.

Contact:
[email protected]

About Advanced Blockchain AG:
Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive network of analysts, developers, programmers, economists and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in various ecosystems and markets in the industry.

For more information about Advanced Blockchain AG, its various projects and investments, please visit