No Comments

PROPHECY DEFI'S INVESTMENT COMPANY LAYER2 BLOCKCHAIN CONTINUES TO IDENTIFY AND DEPLOY CAPITAL INTO HIGH YIELD DEFI OPPORTUNITIES – Yahoo Finance

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Jan. 20, 2022 /CNW/ – Prophecy DeFi Inc. ("Prophecy DeFi", "Prophecy" or the "Company") (CSE: PDFI) is pleased to provide investors with an operational update on its wholly owned subsidiary, Layer2 Blockchain Inc. ("Layer2 Blockchain", "Layer2", or the "Company").
Layer2 Blockchain Investment Update
Layer2 continues to produce significant yields from its existing positions in the DeFi sector. Core to Layer2's strategy is liquidity mining, which returns a yield on deployed crypto assets irrespective of market conditions. As such, Layer2 will continue to generate revenue even if there is a decline in the underlying price of its crypto assets. Unlike proof of work miners, liquidity miners provide capital to a liquidity pool on a decentralized exchange. These pools support the function of decentralized exchanges, and the liquidity miners are rewarded with a fee for every transaction. In some cases, Layer2 also earns additional founding tokens in the underlying exchanges, which grant governance rights as well as the opportunity for capital appreciation when the tokens initiate trading on the blockchain.
These founding tokens are provided to Layer2 due to the strategic benefits the company provides to new DeFi protocols prior to launch. This includes advice on market positioning along with initial capital allocation. Layer2 refers to these opportunities as "Day Zero", which is where they can add the most value to new protocols and generate outsized returns for investors.
The Layer2 team continues to identify new and fast-growing decentralized exchanges and has recently deployed capital into Ronin and IDEX. Ronin is a "Day Zero" opportunity and IDEX is a new exchange that has launched on their own newly created layer two blockchain.
Ronin
Ronin is the underlying blockchain of Axie Infinity, which is the world's most popular play-to-earn video game. Layer2 has become a "Day Zero" liquidity provider to Ronin. To date, Layer2 has earned 28,890 RON tokens which are anticipated to begin trading on January 30, 2022.
Andrew Young, CEO of Layer2, states: "Axie Infinity is the undisputed leader of the play-to-earn revolution and we're extremely optimistic that Axie's underlying blockchain, Ronin, will similarly become the go-to infrastructure layer of this new play-to-earn ecosystem. By farming RON, Prophecy DeFi gets exposure to one of the fastest growing segments of the market by utilizing its growing balance sheet to earn RON tokens via liquidity mining."
IDEX
The IDEX exchange recently moved from Ethereum to the layer two blockchain Polygon, which should encourage rapid growth on this new low fee blockchain. IDEX is the first Hybrid Liquidity decentralized exchange in the world that combines order books and AMMs. Layer2 has deployed capital into 4 positions on this exchange and overall, this has returned an annual percentage yield of 46.78% from the liquidity mining rewards it has received. Layer2 believes that this unique decentralized exchange model will attract sophisticated market makers and traders to IDEX, who will make it one of the most profitable and active crypto exchanges globally.
"We're thrilled to partner with the Layer2 team and we're confident that their support will help drive monumental growth for the IDEX ecosystem." commented Alex Wearn, Co-founder & CEO at IDEX.
DeFi Sector Overview
DeFi has been among the fastest growing segments of the crypto market, largely powered by layer two blockchains. There are now more than 9,000 cryptocurrencies circulating, and the total value locked in DeFi protocols has grown more than 100x over the past 18 months to $240 billion USD.
Layer2 is uniquely positioned to identify high-quality DeFi projects before launch, which increases their ability to create outsized returns irrespective of broader market dynamics. The team currently mines in 10 different liquidity pools that are all generating daily yields, thereby hedging against volatility in cryptocurrency asset prices.
John McMahon, CEO of Prophecy DeFi, remarks: "Key to our proposition is to provide our shareholders with opportunities to realize gains from DeFi protocols that investors wouldn't otherwise have access to. It's the skill and experience of our team and the rapid deployment of capital that gives us a key advantage in the market. As a business we are focused on generating positive returns for our stakeholders while actively contributing to the growth of the DeFi sector. Layer2's strategy is specifically tailored to produce sustainable results both in times of market growth and compression."
Prophecy DeFi is supported by their Advisory Committee consisting of accomplished leaders in decentralized finance. The following video expands on the work of our advisors, and outlines the crucial value they add to the Prophecy DeFi ecosystem: https://youtu.be/U0bOu5pcY44
Key Accomplishments for Prophecy DeFi in Fiscal 2021
On September 13th, 2021, Prophecy DeFi acquired full ownership of Layer2 Blockchain, an operating business with a uniquely qualified and experienced team of DeFi operators.

Prophecy DeFi appointed an Advisory Board composed of accomplished leaders and builders in DeFi to support the company's business operations.

On October 19, 2021, Prophecy DeFi reported annualized returns of 492.5% in its first 90 days of operations, fulfilling its stated goal of generating immediate returns from capital deployment.

Layer2 Blockchain started with an initial deployment of $3.65M in July 2021, and has since grown that capital base to $8.14M as of December 31st, 2021, due to its liquidity mining operations and additional advances in capital from Prophecy DeFi.

Fiscal 2022 Outlook


Prophecy DeFi plans on deploying further capital into liquidity mining pools in order to increase absolute returns generated by Layer2.

Prophecy DeFi looks to strengthen its operations by acquiring additional businesses and assets that complement Layer2 in order to increase profitability and broaden Prophecy's operational model.

Prophecy DeFi anticipates building additional strategic partnerships in DeFi in order to reach a global investment audience focused on the development of DeFi protocols and solutions.
"Our mission is to provide investors with access to the decentralized finance space by building long-term value through our Tier 1 group of advisors and operators and producing consistent yields from our portfolio," says John McMahon. "Layer2's access to Day Zero positions in DeFi provides a tremendous opportunity to capitalize on this emerging and explosive sector. This is why we continue to increase our deployed capital in Layer2 as we have a bullish long-term outlook on the sector."
About Prophecy DeFi
Prophecy DeFi (CSE: PDFI) officially launched on June 23rd, 2021. The company provides retail and institutional investors with access to the decentralized finance space by bridging the gap between DeFi and traditional finance. Prophecy DeFi invests in diverse DeFi and Web 3.0 startups to create new business opportunities in a coherent ecosystem.
www.prophecydefi.com
Forward-Looking Information
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals and the possibility that the completion of the transaction may not occur. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SOURCE Prophecy DeFi Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2022/20/c8371.html
NEXT WEEK: Bring on the Yellow Scarves, School Choice Week is Back in West VirginiaPR NewswireCHARLESTON, W. 20, 2022As School Disruptions Continue, Families Call Attention to Educational Flexibility, Opportunity During Twelfth Annual Public Awareness WeekCHARLESTON, W.
Shares of e-commerce technology-darling Shopify (NYSE: SHOP) were down 7.6% today as of 11:50 a.m. ET. The broader market indices had clawed back steep early losses, but no such luck for Shopify, as richly valued names continue to get punished. The drop is particularly confounding because Shopify just inked a deal with Chinese e-commerce giant JD.com (NASDAQ: JD).
Shares of SunPower (NASDAQ: SPWR) slumped 15.8% in early trading Friday. SunPower released preliminary fourth-quarter earnings after the market closed on Thursday and investors were underwhelmed. One concern in the report was that SunPower was replacing third-party connectors in its light commercial value-added reseller and commercial and industrial solutions systems (CIS) because the company said it had found a cracking issue in the connectors.
Shares of Palantir Technologies (NYSE: PLTR) fell as much as 7% on Friday morning after a Wall Street analyst cut his price target for the data analytics stock. The analyst isn't questioning the quality of the business, but valuation is an open question in this environment. Palantir, as my Motley Fool colleague Keith Noonan noted yesterday, is a stock that has been moving in conjunction with the Nasdaq Composite, and so perhaps it should be no surprise the stock got off to a bad start on Friday morning as the broader market traded down.
Prominent market technician Ralph Acampora says the recent bout of market volatility has him uneasy and now he's forecasting a deeper drop in the market.
The surface of the S&P 500 makes markets look calm. But look down just one layer, and you see some serious pain.
On Wednesday, Jan. 26, Tesla (NASDAQ: TSLA) will report its Q4 earnings for fiscal year 2021 — so the fact that Tesla stock is falling today doesn't portend particularly well. As of 11 a.m. ET, Tesla stock is trading down 2.5% — about five times worse than the decline on the broader Nasdaq index. Why Tesla stock is down isn't immediately clear.
Shares of Huntington Bancshares (NASDAQ: HBAN) are trading 7.3% down as of 11:00 a.m. ET today after reporting earnings results for the fourth quarter and full year of 2021. Huntington reported fourth-quarter earnings per share (EPS) of $0.26 on total revenue of $1.65 billion, missing on analyst estimates for both EPS and revenue. "We enter 2022 increasingly confident in our outlook for growth in revenue and earnings," Huntington president and CEO Steve Steinour said in a statement.
The yield-sensitive Nasdaq Composite Index on Wednesday logs its first close in correction territory since March. Here's what history says happens next.
Rivian Automotive (NASDAQ: RIVN) isn't giving its shareholders any respite — the electric vehicle (EV) stock was down by 22.6% for the week as of 10:30 a.m. ET Friday, according to data provided by S&P Global Market Intelligence. At this point, Rivian has declined by a whopping 41% year to date. Given that the market had already been warned, investors shouldn't have been surprised when Rivian announced the actual numbers.
In this article, we will discuss the 10 stocks that Izzy Englander has sold in Q3. You can skip our detailed analysis of his hedge fund and recent developments, and go directly to read Billionaire Izzy Englander is Selling These 5 Stocks. Israel Englander is one of the most prominent hedge fund managers of all […]Investors looking to add growth stocks to their portfolios this month shouldn't miss these names.
Head of CIO portfolio strategy for Merrill and Bank of America Private Bank Niladri Mukherjee joins Yahoo Finance Live to give an outlook on the market for this week.
A Piper Sandler analyst points to rising costs and decelerating revenue growth as the leading causes for the lower value.
Shares of Netflix plunged more than 20% in early trading Friday after the company reported fourth quarter results that reflected weakening subscriber additions.
Yahoo Finance's Julie Hyman and Brian Sozzi discuss Netflix's stock taking a dip, subscriber growth, the company's fourth quarter earnings, and the outlook for the streaming platform.
Select analysts and investment banks see "high" return potential for these cannabis stocks.
Here are three dividend-paying stocks that can provide investors with a rare trifecta of value, dividend growth potential, and quality. Let's take a closer look at these three stocks Wall Street appears to be sleeping on. Investors would be wise to consider buying shares of real estate investment trust (REIT) Realty Income (NYSE: O) before the market warms up to it.
Nucor's industry leadership gives it a great opportunity to thrive amid new national infrastructure investments.
Every fisherman knows that there’s good eating to be found on the seafloor and river bottoms. Flounder, halibut, sole, catfish – bottom dwellers are known for their good taste. And sometimes, the same can be said in the stock market. Share prices can fall for a wide range of reasons, and the market’s bottom fishers take advantage of that. The key is to find the best tasting morsels – those stocks that are priced low, but undervalued, and are not falling due to some fundamental flaw. There are pl

source

You might also like

More Similar Posts

Leave a Reply

Your email address will not be published.

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Menu