Advanced Blockchain AG
Advanced Blockchain with substantial progress in key holding companies

Advanced Blockchain with substantial progress in key holding companies

• Composable Finance plans to launch LAYR in 2023
• Krest, peaq’s canary network, won the 72^nd Kusama parachain
• Panoptic completed ABDK-audit and partners with Simtopia.ai

13 April 2023 – Advanced Blockchain AG (“AB”, Scale Frankfurt, primary market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator, architect and investor for the blockchain industry, publishes substantial progress in his key holding companies. This becomes clear from the portfolio update AB shared with its investors covering the latest developments of key holding companies in its portfolio during Q1 2023.

Simon Telian, CEO of AB, comments: “The portfolio companies have continued to show growth and progress in their respective sectors and we as the management team are very satisfied with each single development.”
 

The most relevant portfolio companies are briefly introduced below, along with key insights on their Q1 progress:
 

Composable Finance [Incubation]

Composable Finance is building a solution to allow token holders to bridge their assets across multiple blockchains including Ethereum, Polkadot and Cosmos (IBC), with the aim of solving the problems that DeFi solutions face in their currently siloed environments.

Last year, the team has raised 32 million US-Dollar in a Series-A financing round.

The infrastructure initiative completed the collators onboarding to the Picasso parachain, progressed with the mainnet launch by starting testing for the DOT/KSM bridge and launched the Apollo oracle on the mainnet in the recent runtime upgrade. With these accomplishments, the team is well on track to meet its recently announced roadmap and plans to launch LAYR this year.
 

Pendulum [Incubation]

Pendulum is an open-source blockchain that aims to establish the missing link between the fiat and the DeFi ecosystems through a fiat-optimized smart contract blockchain. It will allow connecting DeFi to the foreign exchange market, building automated market makers (AMMs) to introduce scalable liquidity pools for fiat currencies, and create yield earning opportunities for fiat token holders.

Pendulum went live on Polkadot mainnet. The team has also announced several strategic partnerships with GetPaid.Africa, MYKOBO, and nTokens to expand its services and offer more opportunities for its users. Additionally, the leadership team has been restructured with the appointment of new Co-founders.
 

Panoptic [Incubation]

Built on Uniswap, Panoptic is the first decentralized options protocol to master the technically challenging task of implementation on the Ethereum blockchain. Uniswap has handled more than 1.3 trillion US-Dollar in transaction volume to date. Recently the Panoptic team has raised 4.5 million US-Dollar in a seed round led by gumi Cryptos Capital (gCC).

Panoptic completed the first audit with ABDK, and has partnered with Simtopia.ai to further research panoptions. They are currently undergoing the second smart contract audit with OpenZeppelin, which will take a few months to complete.

DELV (formerly Element Finance) [Token Investment]

DELV is creating a full suite of DeFi from infrastructure to structured products, the protocols are designed to work together to help create and usher in the new financial system.

Element Finance has rebranded to DELV, and they released their Council Kit v.0.0.01. Additionally, DELV is working together with Spark to build a fixed-rate lending product on top of a Spark Lend market.

The team previously raised 32 million US-Dollar in a Series-A financing round led by Polychain Capital.
 

Peaq [Incubation]

peaq is the Web3 network powering the Economy of Things (EoT) on Polkadot, the most environmentally-friendly blockchain network. peaq enables entrepreneurs and developers to build decentralized applications for vehicles, robots, and devices, while empowering users to govern and earn as connected machines provide goods and services.

Recently, the team has raised 6 million US-Dollar led by Fundamental Labs.

Krest, peaq’s canary network, has won the 72nd Kusama parachain auction raising 5,522 KSM (roughly 190k US-Dollar) and will serve as the new home for DePIN, which connects IoT devices to the network. Moreover, bloXmovea joined peaq’s ecosystem as a layer-2 for mobility and charging dApps.

All Portfolio-Updates are available on the company website:  https://www.advancedblockchain.com/blogs.
 

Simon Telian, CEO of AB, concludes: “Advanced Blockchain continues to grow accross different ecosystems and aims to give its investors access to its unique early stage dealflow.”

Finally, the executive management intends to publish the consolidated financial statements for the year 2022 earlier than anticipated in Q2 2023.

Contact:
IR@advancedblockchain.com

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 network 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/.