Vancouver, British Columbia--(Newsfile Corp. - January 11, 2024) - Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), one of the first publicly traded blockchain companies in Canada, announces a strategic milestone in its proof-of-stake operations, achieving 180,000 Cosmos (ATOM) tokens.
The native token of the Cosmos blockchain, ATOM, plays a pivotal role in facilitating transactions within the Cosmos network. As an active participant, Neptune delegates ATOM tokens, using cold storage, to secure the network, yielding an Annual Percentage Rate (APR) of approximately 15-20% or more, contingent upon market dynamics. Neptune's milestone position of 180,000 ATOM tokens now generates a monthly revenue stream of approximately $40,000 in ATOM at its current value. This revenue is used to consistently grow Neptune's Bitcoin treasury, invest in new tokens such as Solana and Dot, or compound its ATOM position.
Neptune's venture into the Cosmos realm dates back to 2019 when the ATOM token was valued at $1.50. Recognizing the groundbreaking IBC (Inter-blockchain-communication) protocol, often referred to as the "Internet of blockchains," Neptune identified Cosmos as a trailblazer in resolving the industry-wide challenge of blockchain interoperability. The Company is strategically poised to capitalize on potential market upswings, as exemplified by ATOM's previous market cycle peak at $44 USD. Neptune anticipates substantial returns if ATOM revisits or surpasses this all-time high, providing even more token income for strategic initiatives and growth.
Cale Moodie, Neptune CEO, stated, "Neptune Digital Assets is navigating the waves of innovation within the diverse blockchain landscape. Our position with Cosmos (ATOM) not only underscores our commitment to pioneering technologies but also highlights the revenue potential within this dynamic ecosystem. We also like that Cosmos boasts an extensive network, comprising more than 249 interchain applications and services, including major cryptocurrencies like Bitcoin and Ethereum, managing an impressive digital asset portfolio totaling $71 billion."
About Neptune Digital Assets Corp.
Neptune Digital Assets Corp. is one of the first publicly traded blockchain companies in Canada and is a cryptocurrency and blockchain infrastructure leader with operations across the digital asset ecosystem including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
1-800-545-0941
www.neptunedigitalassets.com
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 Statements
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", "proposes" or similar terminology. 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 herein, including but not limited to: the auditors completing the remining auditing items with respect to the Annual Filings; the inherent risks involved in the cryptocurrency and general securities markets; 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 does not undertake any 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.
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SOURCE: Neptune Digital Assets Corp
