Freeway Tokens trade on popular cryptocurrency platforms Bithumb Global and Uniswap with a strictly limited supply of only 10bn. The mid-market price at 8 am GMT this morning as reported on CoinGecko (https://www.coingecko.com/en/coins/freeway-token) values Staminier’s holding of Freeway Tokens at approximately US$3.2m.
Staminier’s holding of Freeway Tokens is subject to lock-in provisions which mean that it cannot release any part of its holding until April 2021 when 60m tokens become saleable. The final proportion of 50m tokens becomes freely saleable in January 2023.
The Freeway Token is designed to fuel operations of its ground-breaking asset management platform that harnesses the power of network effects to generate increased total returns for users by distributing 80% of its trading revenues for the benefit of all users. When a user trades an AuBit-networked product, 80% of transaction revenues are automatically redistributed back to every product holder. For example, a user’s holding in an AuBit-networked gold bullion product increases every time anyone, anywhere in the world, trades that same product.
This network-enhanced asset growth brings the potential for greater total returns with no additional risk on the world’s top investment products. The network effect compounds as more and more users trade on the platform. According to a study from NFX, network effects are responsible for 70% of the value of big tech unicorns in the past 23 years.
AuBit’s management team and advisors have worked at some of the largest financial and technology companies in the world including Goldman Sachs, HSBC, Fidelity, Credit Suisse, Morgan Stanley, IBM, Google, and The Prudential.
It is planned that GreenBank will provide merchant banking services to AuBit in a bid to list AuBit products on the Canadian Stock Exchange as well as other exchanges using special purpose vehicles. The collaboration is a boost to AuBit’s plan to roll-out their disruptive FinTech model to more than 180 countries worldwide, especially into Canada and the USA.
Commenting on the investment by GreenBank’s portfolio company, Sadie Hutton, Founder & co-CEO of AuBit said, “the 400,000,000 Freeway Token investment by Staminier is further proof of AuBit’s billion-dollar disruptive potential in the trillion-dollar asset management industry as we focus our attention on the upcoming launch of the Freeway Platform in more than 180 countries worldwide. Independently verified simulations show AuBit users can achieve as much as 75% additional gains per year above the market benchmark, with no extra risk — something no other platform has ever been able to offer. We’re confident that our collaboration with GreenBank, as well as the early acquisition of FWT, will prove beneficial for everyone.”
David Lonsdale CEO of GreenBank added, “as one of the first public companies to recognise the importance of blockchain technology in relation to financial transactions, GreenBank Capital is hugely excited about the prospects for Staminier’s long term Freeway Token investment. The multi-trillion-dollar global asset management industry continues to grow each year, but has barely changed in decades and is ideally suited for AuBit’s new technology that could change asset management forever by building a true bridge from the traditional world of capital markets to the new world of digital and decentralized finance and make mass global adoption a reality. We intend to help AuBit in that quest by pursuing with them projects to list special purpose vehicles on internationally-recognised stock exchanges as a way of allowing a wider audience of investors to gain exposure to AuBit’s revolutionary products.
Here at Greenbank, one of our declared objectives (and the objectives of the investment companies in our portfolio) is to invest in and work with companies that can scale globally and have a valuation potential of at least $1b. We believe AuBit fits those criteria very well indeed“.
SOURCE AuBit
For further information: Sadie Hutton, co-CEO, AuBit, [email protected], aubit.io, +356 77017501, https://aubit.io
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
