DLT ASA
DLT ASA
05/12/2022 | Press release | Distributed by Public on 05/12/2022 06:19
DLTx - Filecoin update
Tid12.05.2022, 12:19:17
MeldingsID562094
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InstrumentDLTX
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DLTx - Filecoin update
The financial markets are currently in turmoil as higher inflation, rising interest rates, the war in Ukraine and a potential economic recession is the focus of news media. Cryptocurrencies are also experiencing severe sell-offs due to general risk-off sentiment.
Filecoin, which is currently the focus of DLTx production, has also seen sharp drops in pricing. As such, DLTx would like to comment how the current market dynamics impacts the company.
Filecoin verified deals - changes FIL cost dynamics
DLTx projected an average cost of production per FIL below USD 10 when the Filecoin project was initiated, and that the cost would fall as production increased. Verified deals accelerates the production growth of FIL in the company, and completely changes the FIL cost dynamics. The pipeline of verified deals that DLTx is experiencing will greatly increase the production rate of FIL going forward and significantly reduce the cost of production per FIL.
Filecoin price relative to DLTx revenue
It is important to understand that while the revenue of DLTx decreases due to FIL value depreciation at this moment in time, it is the value of FIL at the time when production turns self-sufficient that will drive future cash flow in DLTx.
The Filecoin SPVs have been funded for two years of operation, and this ensures that FIL does not have to be sold at depressed levels to cover expenses. Combined with the FIL borrowing facility secured with Genesis Global Capital [sp] DLTx has taken measures to reduce the risk in the Filecoin project specifically for these instances. FIL borrowed from Genesis is borrowed FIL-on-FIL which means that there is no exchange risk connected to the FIL borrowed. For every FIL borrowed, one FIL must be repaid. Fluctuation in FIL value does not impact the obligations of DLTx towards Genesis.
For further information, please contact:
Thomas Christensen, CEO, +47 922 55 444
Andreas Arnesen, Investor Relations, +47 952 55 816
About DLTx | www.dltx.com
DLTx is an enterprise infrastructure provider for DAOs and public blockchains. DLTx partners with best-in-class protocols enabling mining and services at scale. The management and advisory board have considerable experience within the blockchain ecosystem. DLTx supports core developers, runs validation nodes, hold governance tokens and advise companies with the right technology, teams and market prospects succeed.
Filecoin, which is currently the focus of DLTx production, has also seen sharp drops in pricing. As such, DLTx would like to comment how the current market dynamics impacts the company.
Filecoin verified deals - changes FIL cost dynamics
DLTx projected an average cost of production per FIL below USD 10 when the Filecoin project was initiated, and that the cost would fall as production increased. Verified deals accelerates the production growth of FIL in the company, and completely changes the FIL cost dynamics. The pipeline of verified deals that DLTx is experiencing will greatly increase the production rate of FIL going forward and significantly reduce the cost of production per FIL.
Filecoin price relative to DLTx revenue
It is important to understand that while the revenue of DLTx decreases due to FIL value depreciation at this moment in time, it is the value of FIL at the time when production turns self-sufficient that will drive future cash flow in DLTx.
The Filecoin SPVs have been funded for two years of operation, and this ensures that FIL does not have to be sold at depressed levels to cover expenses. Combined with the FIL borrowing facility secured with Genesis Global Capital [sp] DLTx has taken measures to reduce the risk in the Filecoin project specifically for these instances. FIL borrowed from Genesis is borrowed FIL-on-FIL which means that there is no exchange risk connected to the FIL borrowed. For every FIL borrowed, one FIL must be repaid. Fluctuation in FIL value does not impact the obligations of DLTx towards Genesis.
For further information, please contact:
Thomas Christensen, CEO, +47 922 55 444
Andreas Arnesen, Investor Relations, +47 952 55 816
About DLTx | www.dltx.com
DLTx is an enterprise infrastructure provider for DAOs and public blockchains. DLTx partners with best-in-class protocols enabling mining and services at scale. The management and advisory board have considerable experience within the blockchain ecosystem. DLTx supports core developers, runs validation nodes, hold governance tokens and advise companies with the right technology, teams and market prospects succeed.