LIQUID META SECURES DTC ELIGIBILITY AND PROVIDES CORPORATE UPDATE
- Expected to enhance liquidity of common shares by securing Depository Trust Company ("DTC") full-service eligibility within the United States
- Continued net revenue growth from its core liquidity mining operation despite higher volatility across crypto and DeFi markets since inception (March 2021)
- Recently appointed CTO advancing the development of the MetaBridge – a proprietary platform that will enable institutional investors to securely deploy capital at scale across a variety of DeFi protocols and applications
TORONTO, May 10, 2022 /PRNewswire/ - Liquid Meta Capital Holdings Ltd. ("Liquid Meta" or the "Company") (NEO: LIQD) (FRANKFURT: N5F) (Pink: LIQQF), a decentralized finance infrastructure and technology company focused on bridging the gap between traditional and decentralized finance, today announced that its common shares have received Depository Trust Company ("DTC") full-service eligibility within the United States, and provided an update on its business operations. All amounts are expressed in U.S. Dollars unless otherwise stated.
DTC Eligibility
The DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered "DTC eligible." DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company's common shares in the United States.
"Receiving DTC eligibility is a significant step in Liquid Meta's growth plans. We believe that it will provide additional exposure to a broader, international investor audience and increase trading volume and liquidity for our common shares in the United States," noted Jonathan Wiesblatt, CEO.
The Company's common shares will continue to trade on the NEO Exchange under the symbol "LIQD".
Corporate Update
Jonathan Wiesblatt, CEO commented, "We are pleased to report that under the stewardship of our new CTO and expanded engineering team, Liquid Meta continues to make progress improving our protocols, platforms and applications, which are key components of the MetaBridge, our proprietary platform that will enable institutional investors to securely deploy capital at scale, safely and efficiently across a variety of DeFi applications."
"Crypto markets displayed elevated volatility in January. However, with more normalized conditions and improvements to our automated technology, Liquid Meta generated positive net yields in February, March and April. Moreover, net yields industry wide have approached pre-January levels as transaction volumes have stabilized, Total Value Locked (TVL) has trended back to recent highs and crypto price volatility trends have moderated. We are actively proving-out the fact that capital can be deployed safely and profitably in Defi. We are focused on continuing to deploy our capital in this manner, while building out the MetaBridge, which we expect will enable more investors to access DeFi in a meaningful way, while removing many of the barriers that prevent wider adoption of this technology," added Mr. Wiesblatt.
Liquidity Mining
Background
- Liquidity is the electricity that powers the DeFi ecosystem. Without liquidity, the service delivered by Defi platforms becomes inefficient and exhibits high slippage rates. Liquidity providers are compensated with reward tokens and a pro rata share of the transaction fees generated by decentralized exchanges and platforms.
- DeFi Transaction revenue continues to remain strong as the value proposition of DeFi expands across alternative blockchain and financial services.
- Alternative blockchains represent the greatest opportunities for liquidity provision as they are the networks with the greatest rates of new product innovation, transaction growth and offer DeFi users a competitive alternative (speed and cost) to the Ethereum Network. Ethereum's market share based on TVL has declined from +
90% of TVL in 2020 to ~55% at present.1
Competitive Advantage
- Liquid Meta's competitive advantage remains its ability to screen, select, analyze, deploy and automate its liquidity mining operations across these rapidly growing alternative networks.
- Liquid Meta's has a multi-chain, all-weather strategy to maximize the monetization of the Company's liquidity while minimizing risk, enabling it to collect net revenue on a consistent basis.
Execution
- The Company's all-weather liquidity mining strategy has continued to generate consistent net revenues despite elevated volatility in the crypto market during the first calendar quarter of 2022.
- Net Yields across platforms and DAPPS we are providing liquidity to, are currently in the high double digits on average.
Technology Update
- As previously mentioned, one of Liquid Meta's key priorities for 2022 is to advance and commercialize a technology stack specifically developed for institutional investors to access DeFi.
- During 2021, Liquid Meta strengthened its engineering team, and subsequently appointed Daniel Opperman as CTO to oversee the build of development protocols for the commercialization of MetaBridge.
- Under the stewardship of its new CTO, Liquid Meta is making progress on the multi-chain engine. The Company has increased its utilization of automated hedging capacity from
0% of assets to ~20% during February, March and April. - Liquid Meta expanded its data collection and reconciliation capabilities to include several new DeFi protocols and have migrated these services onto a more robust backend infrastructure.
- The Company defined its technology roadmap, goals and KPIs for FY23 and began acquiring the required resources to expand these initiatives.
- LiquidMeta continues to add to its team of Web3.0 / DeFi software engineering, product design and implementation professionals.
About Liquid Meta
Liquid Meta is a decentralized finance infrastructure and technology company that is powering the next generation of open-access protocols and applications. The Company is creating the bridge between traditional and decentralized finance while ushering in a new era of financial infrastructure that benefits anyone, anywhere.
To learn more visit: Website | LinkedIn | Twitter
Cautionary Notice
Neo Exchange has not reviewed or approved this press release for the adequacy or accuracy of its contents.
Notice Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Liquid Meta to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks and Uncertainties" in the Company's Filing Statement dated as of December 17, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Liquid Meta disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Liquid Meta's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
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Further information
For further information regarding Liquid Meta, please contact:
James Bowen, CFA,
Liquid Meta Investor Relations
416-519-9442
investors@liquidmeta.io
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SOURCE Liquid Meta Capital Holdings Ltd
