DJ Coinsilium Group Limited: Coinsilium Signs SAFT to acquire Otomato Web3 Automation Protocol Tokens
Coinsilium Group Limited (COIN)
Coinsilium Group Limited: Coinsilium Signs SAFT to acquire Otomato Web3 Automation Protocol Tokens
03-Jul-2024 / 08:14 GMT/BST
=----------------------------------------------------------------------------------------------------------------------
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium Group Limited: Coinsilium Signs SAFT to acquire Otomato Web3 Automation Protocol Tokens
London, UK, 3 July 2024 - Coinsilium Group Limited (AQUIS: COIN) (OTCQB: CINGF), the Web3 investor, advisor, and
venture builder is pleased to announce that it has entered into a Simple Agreement for Future Tokens ("SAFT") with the
Otomato Web3 Automation Protocol.
Otomato is a Web3 automation protocol designed to simplify the process of building applications by eliminating the
complexities of blockchain development.
Highlights:
-- Coinsilium enters SAFT Agreement to purchase USD75,000 of future tokens in the "Early Backers" round of
the Otomato Web3 Automation Protocol to be distributed throughout a vesting period.
-- The SAFT grants an option to Coinsilium for the acquisition of an additional USD150,150 of future
protocol tokens to be distributed throughout a vesting period.
-- Users of the decentralised application Otomato.xyz can create and automate their own Web3 trading
strategies without the need of any coding skills.
-- Coinsilium will earn 7.5% of all revenues generated by the Otomato.xyz platform up to the point of the
Token Listing Event ("TGE").
-- The Otomato.xyz platform's revenues will predominantly be derived from affiliate fees from actions
executed through integrated protocols and fees from transactions initiated via the platform.
-- Otomato has been selected as a participant in the first batch of the MODE Yield Accelerator. MODE Network
is an Ethereum layer 2 blockchain focused on Decentralised Finance (DeFi).
What is the Otomato Web3 Automation Protocol?
Otomato is a Web3 Automation Protocol that streamlines the creation of automated on-chain actions and responses within
the blockchain ecosystem.
Otomato.xyz is the first decentralised application of the Protocol and enables De-Fi traders to create and automate
their own Web3 trading strategies as a succession of on-chain actions which can integrate reactions to off-chain
events. User control and security on the platform are ensured through account abstraction (ERC-4337), making blockchain
automation accessible and efficient for all users.
By providing "modular blocks" that can be easily integrated into various trading strategies, Otomato is designed to be
accessible to a broad trading audience, without the need for a deep technical knowledge or coding skills.
Investment Terms
Under the terms of the SAFT, Coinsilium will receive USD75,000 in value of the future tokens of the Otomato Web3
Automation Protocol in accordance with the 'Early Backers' token allocation pricing and vesting terms.
Coinsilium also has the option to acquire an additional USD150,150 in value of the future tokens of the Otomato Web3
Automation Protocol in accordance with the 'Strategic' token allocation pricing and vesting terms.
At this stage, the Company cannot disclose specific details relating to price or number of Tokens to be received.
Further details will be provided by way of an update to the market in due course, when the Company is in a position to
do so.
In addition, Coinsilium will earn 7.5% of revenues generated by the Otomato.xyz platform up to the time of the Token
Listing Event, anticipated to occur during 2025. Revenues will be predominantly derived from affiliate fees from
actions executed through integrated protocols and fees from transactions initiated via the Otomato.xyz platform. The
private alpha launch of Otomato.xyz is scheduled in Q3 2024, and the public launch of the platform is expected by Q4
2024, when revenues would be expected to commence.
Eddy Travia, Chief Executive Officer of Coinsilium commented: "There are numerous examples of highly successful
web-based automation platforms including Zapier (USD5bn valuation) and IFTTT (valuation estimated between USD100m and USD500m
) in Web2. We therefore see a huge opportunity for a similar model adapted for the fast-growing Web3 space.
This investment in the future tokens of the Otomato Web3 Automation Protocol presents a great opportunity to join a
highly promising venture with substantial growth potential at a very early stage.
By removing the necessity for coding skills, Otomato revolutionises the practice of executing sophisticated Web3
strategies. Traditionally, this process requires coding expertise, but Otomato allows users to take advantage of
advanced strategies without sacrificing security or control. Users retain full ownership of their crypto assets,
ensuring that automated on-chain actions align perfectly with their trading goals and risk preferences.
As repeated through previous technology adoption cycles, we expect the Web3 space to enter its next phase of
development whereby non-technical users become the fastest growing user group, drawn by user-friendly applications such
as the ones powered by the Otomato Web3 Automation Protocol. This positions Otomato to potentially become a cornerstone
of global Web3 adoption.
We look forward to supporting the talented founding team of Otomato Web3 Automation Protocol throughout their future
development milestones and achievements."
The Directors of Coinsilium Group Limited take responsibility for this announcement.
Coinsilium Group Limited +350 2000 8223
Malcolm Palle, Executive Chairman +44 (0) 7785 381 089
Eddy Travia, Chief Executive www.coinsilium.com
Peterhouse Capital Limited
+44 (0) 207 469 0930
(Aquis Growth Market Corporate Adviser
SI Capital Limited
Nick Emerson +44 (0) 1483 413 500
(Broker)
Notes to Editors
About Coinsilium
Coinsilium is an investor, advisor and venture builder at the forefront of Web3 convergence. The Company invests in and accelerates Web3 and AI powered technology start-ups whilst supporting their development and commercialisation.
Coinsilium also provides strategic advisory services to start-ups looking to issue tokens through token generation events. Coinsilium's wholly owned subsidiary Coinsilium (Gibraltar) Limited is the Company's operational hub in Gibraltar.
In 2015, Coinsilium became the first blockchain company to IPO. Coinsilium shares are traded on the Aquis Growth Market in London, under the ticker symbol "COIN", and on the OTCQB Venture Market in the United States under the ticker symbol "CINGF".
About Otomato Web3 Automation Protocol
Otomato is a Web3 automation protocol designed to simplify the process of building applications by eliminating the complexities of blockchain development. Otomato streamlines the creation of automated on-chain actions and responses within the blockchain ecosystem and eliminates the need for deep technical knowledge by providing modular blocks that can be easily integrated into various strategies.
Otomato.xyz is the first decentralised application of the Protocol and enables its users to create and automate their own Web3 strategies. Additionally, it ensures user control and security through account abstraction (ERC-4337), making blockchain automation accessible and efficient for everyone.
.
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
ISIN: VGG225641015 Category Code: MSCM TIDM: COIN Sequence No.: 331635 EQS News ID: 1938275 End of Announcement EQS News Service =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1938275&application_name=news&site_id=dow_jones%7e%7e%7ef1066a31-ca00-4e1a-b0a4-374bd7d0face
(END) Dow Jones Newswires
July 03, 2024 03:14 ET (07:14 GMT)
