- Prophecy DeFi (PDFI) has provided an operational update on its wholly-owned subsidiary, Layer2 Blockchain Inc.
- Prophecy DeFi reported annualized returns of 492.5 per cent in its first 90 days of operations
- Layer2 Blockchain has grown its capital base to $8.14M as of December 31st, 2021
- Prophecy DeFi is seeking to strengthen its operations in 2022 by acquiring additional businesses and assets that complement Layer2
- Prophecy DeFi aims to bring together technology start-ups in the Blockchain and DeFi sectors
- Prophecy DeFi Inc. (PDFI) opened trading at C$0.32 per share
Prophecy DeFi (PDFI) has provided an operational update on its wholly-owned subsidiary, Layer2 Blockchain Inc.
John McMahon, CEO of Prophecy DeFi sat down with Caroline Egan to highlight the update.
“Key to our proposition is to provide our shareholders with opportunities to realize gains from DeFi protocols that investors wouldn’t otherwise have access to. It’s the skill and experience of our team and the rapid deployment of capital that gives us a key advantage in the market. As a business we are focused on generating positive returns for our stakeholders while actively contributing to the growth of the DeFi sector. Layer2’s strategy is specifically tailored to produce sustainable results both in times of market growth and compression.”
Layer2 continues to produce significant yields from its existing positions in the DeFi sector. Core to Layer2’s strategy is liquidity mining, which returns a yield on deployed crypto assets irrespective of market conditions.
The Layer2 team continues to identify new and fast-growing decentralized exchanges and has recently deployed capital into Ronin and IDEX. Ronin is a “Day Zero” opportunity and IDEX is a new exchange that has launched on their own newly created layer 2 blockchain.
DeFi has been among the fastest-growing segments of the crypto market, largely powered by layer two blockchains. There are now more than 9,000 cryptocurrencies circulating, and the total value locked in DeFi protocols has grown more than 100x over the past 18 months to US$240 billion.
Layer2 is uniquely positioned to identify high-quality DeFi projects before launch, which increases their ability to create outsized returns irrespective of broader market dynamics. The team currently mines in 10 different liquidity pools that are all generating daily yields, thereby hedging against volatility in cryptocurrency asset prices.
Key accomplishments in fiscal 2021
- Prophecy DeFi acquired full ownership of Layer2 Blockchain
- Prophecy DeFi appointed an Advisory Board to support the company’s business operations
- Prophecy DeFi reported annualized returns of 492.5 per cent in its first 90 days of operations
- Layer2 Blockchain has grown its capital base to $8.14M as of December 31st, 2021
Fiscal 2022 outlook
Prophecy DeFi plans on deploying further capital into liquidity mining pools in order to increase absolute returns generated by Layer2.
Prophecy DeFi is seeking to strengthen its operations in 2022 by acquiring additional businesses and assets that complement Layer2 in order to broaden Prophecy’s operational model.
Prophecy DeFi anticipates building additional strategic partnerships in DeFi in order to reach a global investment audience focused on the development of DeFi protocols and solutions.
“Our mission is to provide investors with access to the decentralized finance space by building long-term value through our Tier 1 group of advisors and operators and producing consistent yields from our portfolio,” says John McMahon.
“Layer2’s access to Day Zero positions in DeFi provides a tremendous opportunity to capitalize on this emerging and explosive sector. This is why we continue to increase our deployed capital in Layer2 as we have a bullish long-term outlook on the sector.”
Prophecy DeFi aims to bring together technology start-ups in the Blockchain and DeFi sectors to fund innovation, elevate industry research, and create new business opportunities in a coherent ecosystem.
Prophecy DeFi Inc. (PDFI) opened trading at C$0.32 per share.
