• July 5, 2020

StakerDAO Distributes Its Security Token, STKR, to Investors, Becoming First Company to Move “Tokenized Equity” on Tezos - Odessa American: News

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StakerDAO Distributes Its Security Token, STKR, to Investors, Becoming First Company to Move “Tokenized Equity” on Tezos

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Posted: Thursday, June 25, 2020 11:01 am | Updated: 11:30 am, Thu Jun 25, 2020.

PALO ALTO, Calif.--(BUSINESS WIRE)--Jun 25, 2020--

Today StakerDAO announced the distribution of the Staker token (STKR), designed specifically for governing financial assets in a secure, decentralized, and compliant manner. The STKR tokens distributed today represent the equity of investors in StakerDAO’s Seed Round and the first closing of their Series A round, co-led by Polychain and Lemniscap. Based on the current value of $13.30 per token, STKR has a market capitalization of $20M.

STKR is a security token that governs all decisions related to financial assets and receives all associated profit. Governance is transparent and open to the public on the governance site – https://governance.stakerdao.com/stage.

“The distribution of the STKR token is a major milestone in StakerDAO’s path towards truly secure and decentralized asset management,” said Jonas Lamis, Founder and CEO of StakerDAO. “The STKR token and the associated governance process provides a launch pad for future financial products and next generation innovations in compliance for all token holders.”

The StakerDAO community builds and manages products for on-chain governance, cross-chain synthetics, and tokenized real-world assets. StakerDAO is a new kind of organization: it is both a corporation – Staker Services Ltd based in the Cayman Islands – and a decentralized autonomous organization (DAO).

The STKR equity token is built on the FA 1.x token standard on Tezos. Actions taken by StakerDAO are transparent and managed on the Tezos blockchain. Everyone can see the results of every proposal that is submitted and every vote the StakerDAO Council makes. The five members of the StakerDAO Council are elected annually through a Tezos on-chain vote of STKR token holders.

Current StakerDAO council members include Olaf Carlson-Wee, Polychain; Luke Youngblood, Coinbase Custody; Shaishav Todi, Lemniscap; Spencer Noon, DTC Capital; Jonas Lamis of StakerDAO.

The governance process runs every month and is fully transparent on the Tezos blockchain, which was chosen because of a broadly decentralized validator pool of over 450 validators, strong proof that on chain governance works for evolving the protocol, and a well-endowed foundation for long-term ecosystem growth.

"We are excited that StakerDAO has become the first company to tokenize their equity on Tezos," said Hubertus Thonhauser, Chairman of the Tezos Foundation. "The fact that they are using a tokenized DAO model to govern the launch of financial assets on Tezos illustrates the tremendous potential for community-controlled asset creation and management."

The Staker Operations Team serves as the R&D arm of the StakerDAO Council and will package the best community selected ideas into formal proposals for governance. Under the direction of Staker token holders, StakerDAO intends to launch and manage a growing collection of decentralized financial products, all secured by the Staker Agora governance process.

“I believe that every asset will be managed on blockchains. From stocks and bonds to real estate and fine art, everything that can be tokenized, will be,” said Jonas Lamis, founder and CEO of StakerDAO. ”DAOs are an essential tool to decentralize organizational management, yet they also need to provide incentives for participants to collaborate. For-profit DAOs are the future of decentralized finance.”

The first product by StakerDAO, Blend (BLND) launched at the end of May 2020 on CoinList and is generating traction that will, in turn, accrue value to STKR token holders. BLND is a synthetic ERC 20 token that tracks a governed basket of PoS tokens. At this time US persons may not buy blend and US individuals may not access the Blend site, www.blendtoken.com.*

For more information on StakerDAO, visit: www.stakerdao.com

About StakerDAO**

StakerDAO** is a platform for governing financial assets in a decentralized, secure, and compliant manner. The StakerDAO community builds and manages products for on-chain governance, cross-chain synthetics, and tokenized real-world assets.

STKR holders have the primary responsibilities of discussing proposal ideas and electing members of the Staker Council.

The StakerDAO Council governs decisions about the various assets that StakerDAO manages using the Staker Agora governance process.

The StakerDAO Ops Team solicits and develops proposals for the Staker Council to vote on and implements proposals approved by the StakerDAO Council.

STKR, the governance token for StakerDAO, is built on the FA 1.2 token standard on Tezos. STKR tokens are decentralized, secure, and compliant with required entities.

StakerDAO was founded in 2019 by Jonas Lamis, with financial backing from Polychain Capital.

For more information, visit: www.stakerdao.com

*This notice does not constitute an offer of any securities for sale. BLND is not offered and may not be sold to or for the benefit of any “U.S. person” as that term is defined under U.S. securities law. If you are a U.S. person you may not purchase BLND.

**StakerDAO is a tradename of Staker Services Ltd., a Cayman exempt corporation. References herein to StakerDAO are to Staker Services Ltd.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200625005181/en/

CONTACT: Tony Fassi

Jones-Dilworth, Inc.

tony@jones-dilworth.com

512.826.3428

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCE SOFTWARE BANKING

SOURCE: StakerDAO

Copyright Business Wire 2020.

PUB: 06/25/2020 12:00 PM/DISC: 06/25/2020 12:01 PM

http://www.businesswire.com/news/home/20200625005181/en

© 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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