Blockchain and crypto-asset investment firm KR1, today announced an update on its revenue from staking activities on Polkadot (DOT). KR1 has generated another 141,564.69 DOTs since the last staking update announcement in August 2020, all of which have sold at an average price of USD $ 5.63 per DOT ticket, realizing USD $ 796,942.58.
KR1 has realized more than 194,631.69 DOT of suspension products over the past six months since Polkadot migrated to a ‘Test-of-Stake’ network on June 18, 2020. By now, KR1 has realized the integrity of its long-run DOT staking product here, which netted the company a total of USD $ 991,745.54.
The KR1 team takes a long-term view of DOT’s price, implementing a strategy where, if the asset’s price is under pressure and below a certain price threshold, the company will not cancel its cumulative product and defer product realization until the market improves. This strategy has resulted in a more favorable average realization price of USD $ 5.63 per DOT for this Polkadot staking revenue update, versus an average daily price of USD $ 4.67 per DOT if the company had sold its product daily .
As of the date of this announcement, KR1’s total holding of Polkadot tickets is 3,498,842.45 DOT after all staking products have been realized.
“A healthy flow of stubborn income with no capital expenditure allows us to capitalize on the growing buzz in the digital asset markets. Once again, we have been very successful in achieving great average prices for realizing the company’s stunning product with our strategy to time market conditions. The momentum in the Polkadot ecosystem has been very encouraging, with a large surge in community participation and new features such as Polkadot ‘parachain auctions’ and cross-chain communications coming closer to release. “
– George McDonaugh, Managing Director and Co-Founder of KR1