Advanced Blockchain successfully completes two projects
January 12, 2023 at 10:34 am
Share
EQS-News: Advanced Blockchain AG
/ Key word(s): Cryptocurrency / Blockchain/Expansion
Advanced Blockchain successfully completes two projects
12.01.2023 / 11:32 CET/CEST
The issuer is solely responsible for the content of this announcement.
Advanced Blockchain AG (Scale Frankfurt, primary market Düsseldorf, XETRA: ISIN DE000A0M93V6) has successfully completed two projects at the beginning of the current fiscal year, but remains involved with a significant share it had received for the development resources provided.
On the one hand, this concerns Warp Finance. The developers of Advanced Blockchain AG support WARP primarily in the code optimization after audits, as well as the strategic product alignment in Q3 and Q4 2022. Warp Finance can now operate independently with the revised code. The plan is to continue to maintain close contact with Warp to leverage existing synergies.
The second project is a spin out of an incubation. Advanced Blockchain provided contract services on the development of a decentralized financial protocol. Advanced Blockchain received 50% of the team tokens for their development services, representing at least 8% of the tokens of the entire protocol. More detailed information cannot be communicated at this time due to promised confidentiality.
Advanced Blockchain is confident about the continued positive development and intends to remain involved in the projects in the long term.
As part of the last financing round, Advanced Blockchain AG was also able to sell its position in Quasar at attractive conditions for several million US dollars. It is intended to use the funds to finance new projects and further expand the investment portfolio of the company.
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 team of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in different ecosystems and markets of the industry.
For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
12.01.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
Advanced Blockchain AG is a Germany-based information technology (IT) company. The Company specializes in blockchain, utilizing distributed ledger technology (DLT), while simultaneously further developing other technological solutions, such as directed acyclic graphs (DAG). The Company operates within four business fields: DLT Consultancy, which offers businesses advice on how to apply DLT to their needs and provides the necessary know-how in the implementation process; Applications, which pursues further development and commercialization possibilities of the DAG technology and includes the Company's research activities; Development for third parties, which involves creating dedicated software on order, ranging from minor business process optimizations to full renewal of the business model based on the DAG technology, and Software as a Service (SaaS), which provides decentralized data processing and hosting services in exchange for a license fee.
ADVANCED BLOCKCHAIN AG 
