Latest News

Crypto fund KR1 makes $353K from partial sale of Rocket Pool investment

Blockchain and crypto-asset investment company, KR1 has announced revenue of $353,000 from the latest sales of its Rocket Pool investment tokens.

According to the investment company, it sold a total of 210,657 RPL tokens from its Rocket Pool project at an average price of $1.67 per RPL token.

These RPL tokens were acquired at an average price of $0.21 per RPL during the presale Rocket Pool token launch in 2017. These would be the first time since then that the parent group would be selling part of their stake.

KR1 continues to hold the majority of its Rocket Pool stake and intends to use the funds acquired from the Rocket Pool offering to develop its own Ethereum 2.0 staking activities with the aims of generating more yields for the company.

KR1 had offers from a well-known crypto fund to sell its tokens last year but decided against the sale. However, the current market conditions prompted the sale of the tokens as a way to continue generating healthy profits for its shareholders.

Speaking regarding the recent sale of the RPL tokens, the co-founder of KRI, George McDonaugh said “Building ground-breaking technology for Ethereum’s Proof-of-Stake future has been and continues to be a vast task, requiring hard work, flexibility and dedication.

KR1 Rocket Pool a blockchain service built on Ethereum

Rocket Pool is a next-generation Proof-of-Stake Infrastructure service that is built on Ethereum. The service is designed to be decentralized, distributed and compatible with staking Ethereum 2.0 offerings.

This in turns enables, users, businesses, exchanges the ability to earn a yield from their Ethereum (ETH) holdings without the worry of maintaining a technically extensive staking infrastructure.  

When KR1 started out Ethereum 2.0 was at the beginning of its research phase and it is regarded as one of the best projects within the Ethereum ecosystem.

The company looks set to maximize its profits when Ethereum 2.0 rolls out in the coming months.

Leave a Reply

Your email address will not be published. Required fields are marked *