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KR1 generates US$352,620 in Rocket Pool digital token sale

"The company decided it was appropriate to realise some profit from its RPL tokens while continuing to hold a healthy position in anticipation of the roll-out of Ethereum 2.0”

KR1 PLC - KR1 generates US$352,620 in Rocket Pool digital token sale
Rocket Pool is compatible with staking in the Ethereum 2.0 cryptocurrency

KR1 PLC (AQSE:KR1) told investors it has generated US$352,620 from the sale of tokens in the Rocket Pool (RPL) project.

Some 210,657 RPL tokens were sold with an average price of US$1.67 per token, the digital assets specialist said.

Rocket Pool, a next-generation Proof-of-Stake (PoS) infrastructure service, is compatible with staking in the Ethereum 2.0 cryptocurrency.

KR1 said it continues to hold the majority of its Rocket Pool position and it intends to use its holdings in its own Ethereum 2.0 staking activities to generate further yield revenue for the company.

READ: KR1 invests in Ethereum credit firm Union Finance

“With KR1 being the only institutional participant in the initial Rocket Pool token sale, we received an offer earlier last year for our entire Rocket Pool position from a well-known and popular crypto fund, but decided against a sale as we continue to be extremely excited about Rocket Pool’s roadmap and the role of the RPL token in Ethereum’s staking future,” George McDonaugh, KR1 managing director said in a statement.

“In light of recent market conditions, however, the company decided it was appropriate to realise some profit from its RPL tokens while continuing to hold a healthy position in anticipation of the roll-out of Ethereum 2.0.

“We are delighted with how our investment in Rocket Pool has performed so far and are pleased to once again demonstrate how KR1 is continually looking to pick the best projects that we believe will maximise returns for shareholders,” he added.

Quick facts: KR1 PLC

Price: 6.5 GBX

AQSE:KR1
Market: AQSE
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