KR1 backs new DeFi platform, Exponent

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KR1 PLC (AQSE:KR1) has invested US$500,000 into the Exponent project in return for a yet-to-be-determined amount of XPN tokens.


The Aquis-listed group led a seed funding round and was joined by a network of strategic investors including AngelDAO, Block0, GSR Markets, Golden Gate Ventures, Taureon Capital, Varys Capital, and other blockchain protocol founders and individuals.


Exponent is an open-source platform that enables quantitative trading using decentralised finance (DeFi).


Built by an experienced team of engineers and strategists, the Exponent platform handles both DeFi integrations and trade execution, said KR1.


Exponent’s founders said: “We’re thrilled to on-board KR1 as one of our earliest investors – similar to how you form a founding team, selecting your early investors is equally as critical to get right.


“The individuals in the KR1 team are early adopters of the Web3 space and understand the challenges entrepreneurs face


Keld van Schreven, Managing Director and Co-Founder of KR1, added; “Exponent is a much-needed service that takes quant-driven DeFi investing to the next level.


“Building on top of Enzyme, another portfolio project of ours, and led by a stellar team, we believe Exponent will spawn an important community of strategists and hedge funds that are going to drive significant value into DeFi.”

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