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The digital asset manager has invested US$100,000 into iTrust and US$50,000 in the Clover project
() has unveiled two new investments, iTrust and the Clover project, as well as the launch of a new company website.
The digital asset investment firm said its has invested a total of US$100,000 in the iTrust seed funding round in return for a yet-to-be-determined amount of iTrust (ITG) tokens.
READ: KR1 NAV jumps five-fold as cryptocurrencies take off
iTrust is a yield optimisation platform for supplying smart contract cover to the decentralised finance ecosystem. The platform uses an algorithmic capital allocation engine and advanced protocol risk modelling to allow anyone to generate low-risk yields from smart contract cover provision. KR1 added that iTrust is also the first official cover supply partner of two of its other investments, Nexus Mutual and Tidal Finance.
Meanwhile, the company said it has also invested US$50,000 in Clover in return for 625,000 Clover (CLV) tokens.
Clover is a smart contract platform that allows Ethereum developers to easily migrate their decentralised applications onto the Polkadot network by minimizing the changes required to run existing Solidity smart contracts on the new network.
The platform also allows users to cover network fees with any token, removing the dependence on base currencies such as Ethereum. It has also created a cross-chain explorer covering Ethereum, Polkadot and the Binance Smart Chain as well as an incentivisation layer which allows dApp builders to automatically gain a percentage share of the transaction fees running through the network.
“We are very pleased to support these two projects and we look forward to helping them bring their platforms to the ever-expanding decentralised finance ecosystem. Building a product on top of Nexus Mutual among others, enables iTrust to make the most of the composability effects of DeFi and in turn pushes the growth of the entire decentralised insurance vertical. With Clover, many new key innovations will be brought to market, not only ensuring a strong link between Ethereum and Polkadot but also bringing much needed choice and flexibility to developers and users alike”, KR1 managing director and co-founder George McDonaugh said in a statement.
KR1 also announced that it has launched a new website under its www.KR1.io domain which it said will help individuals and institutions better understand the company with a fully featured ‘Investors’ section and other new additions to the page.
Shares in KR1 were trading at around 142p on the Aquis Exchange in mid-afternoon.
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