Latest news with #AndreCronje
Yahoo
16-05-2025
- Business
- Yahoo
Spetz Retracts and Clarifies its News Release From May 14th
TORONTO, ON / / May 15, 2025 / Spetz Inc. (the "Company" or "Spetz") (CSE:SPTZ)(OTC:DBKSF) at the request of CIRO the Company wishes to retract the news release dated May 14 titled "Spetz Announces Strategic Partnership with Sonic Labs Ahead of Closing Their Current Financing Round". Spetz and Sonic Labs have engaged in ongoing discussions regarding potential areas of collaboration and have verbal commitments, nothing has been signed and there can be no guarantee the partnership will proceed. These discussions culminated in a verbal agreement in early May 2025 to work together on a non-binding basis to grow institutional awareness, participation, and infrastructure support for the Sonic ecosystem. No commercial consideration has been exchanged. Sonic Labs has confirmed its intention to participate in Spetz's current private placement financing. The transaction has not yet closed. The Company will provide a further update on the status of the private placement. There is no guarantee that the private placement will close. About Spetz Inc. is a multinational technology company operating at the intersection of AI-driven marketplaces and blockchain infrastructure. The Company owns and operates the Spetz application, an AI-powered platform connecting consumers with service providers, as well as SonicStrategy, a leading blockchain staking and infrastructure business. About Sonic LabsSonic Labs is the core development team behind the Sonic blockchain, a high-performance, EVM-compatible Layer 1 built for DeFi and real-world applications. With sub-second finality, low fees, and a rapidly growing ecosystem of developers and applications, Sonic is quickly establishing itself as one of the most scalable and accessible blockchains in the market. The team includes pioneers in DeFi and blockchain infrastructure, including Andre Cronje, and is supported by a global developer and investor community. Company ContactsMitchell Demeter, Spetz Inc CEOEmail: mitchell@ +1-345-936-9555 Forward-Looking Statements NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Cautionary Note Regarding Forward-Looking Statements Certain information herein constitutes "forward-looking information" under Canadian securities laws, reflecting management's expectations regarding objectives, plans, strategies, future growth, results of operations, and business prospects of the Company. Words such as "plans," "expects," "intends," "anticipates," "believes," and similar expressions identify forward-looking statements, which are qualified by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of estimates and assumptions that, while considered reasonable by management, are subject to business, economic, and competitive uncertainties and contingencies. The Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected outcomes. Factors influencing these outcomes include economic conditions, regulatory developments, competition, capital availability, and business execution risks. The forward-looking information contained in this release represents Spetz's expectations as of the date of this release and is subject to change. Spetz does not undertake any obligation to update forward-looking statements, except as required by law. This press release does not constitute an offer to sell or solicit an offer to buy securities in any jurisdiction where such an offer, solicitation, or sale would be unlawful. None of the securities issued in connection with the acquisition will be registered under the United States Securities Act of 1933, and they may not be offered or sold in the United States absent registration or an applicable exemption. We seek Safe Harbor. SOURCE: Spetz Inc. View the original press release on ACCESS Newswire
Associated Press
15-05-2025
- Business
- Associated Press
Spetz Retracts and Clarifies its News Release From May 14th
TORONTO, ON / ACCESS Newswire / May 15, 2025 / Spetz Inc. (the 'Company' or 'Spetz') (CSE:SPTZ)(OTC:DBKSF) at the request of CIRO the Company wishes to retract the news release dated May 14 titled 'Spetz Announces Strategic Partnership with Sonic Labs Ahead of Closing Their Current Financing Round'. Spetz and Sonic Labs have engaged in ongoing discussions regarding potential areas of collaboration and have verbal commitments, nothing has been signed and there can be no guarantee the partnership will proceed. These discussions culminated in a verbal agreement in early May 2025 to work together on a non-binding basis to grow institutional awareness, participation, and infrastructure support for the Sonic ecosystem. No commercial consideration has been exchanged. Sonic Labs has confirmed its intention to participate in Spetz's current private placement financing. The transaction has not yet closed. The Company will provide a further update on the status of the private placement. There is no guarantee that the private placement will close. About Spetz Inc. Spetz Inc. is a multinational technology company operating at the intersection of AI-driven marketplaces and blockchain infrastructure. The Company owns and operates the Spetz application, an AI-powered platform connecting consumers with service providers, as well as SonicStrategy, a leading blockchain staking and infrastructure business. About Sonic Labs Sonic Labs is the core development team behind the Sonic blockchain, a high-performance, EVM-compatible Layer 1 built for DeFi and real-world applications. With sub-second finality, low fees, and a rapidly growing ecosystem of developers and applications, Sonic is quickly establishing itself as one of the most scalable and accessible blockchains in the market. The team includes pioneers in DeFi and blockchain infrastructure, including Andre Cronje, and is supported by a global developer and investor community. Company Contacts Mitchell Demeter, Spetz Inc CEO Email: [email protected] Phone: +1-345-936-9555 Forward-Looking Statements NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Cautionary Note Regarding Forward-Looking Statements Certain information herein constitutes 'forward-looking information' under Canadian securities laws, reflecting management's expectations regarding objectives, plans, strategies, future growth, results of operations, and business prospects of the Company. Words such as 'plans,' 'expects,' 'intends,' 'anticipates,' 'believes,' and similar expressions identify forward-looking statements, which are qualified by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of estimates and assumptions that, while considered reasonable by management, are subject to business, economic, and competitive uncertainties and contingencies. The Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected outcomes. Factors influencing these outcomes include economic conditions, regulatory developments, competition, capital availability, and business execution risks. The forward-looking information contained in this release represents Spetz's expectations as of the date of this release and is subject to change. Spetz does not undertake any obligation to update forward-looking statements, except as required by law. This press release does not constitute an offer to sell or solicit an offer to buy securities in any jurisdiction where such an offer, solicitation, or sale would be unlawful. None of the securities issued in connection with the acquisition will be registered under the United States Securities Act of 1933, and they may not be offered or sold in the United States absent registration or an applicable exemption. We seek Safe Harbor. SOURCE: Spetz Inc. press release
Cision Canada
28-04-2025
- Business
- Cision Canada
Sonic: A Model for the New DeFi Paradigm
SINGAPORE, April 28, 2025 /CNW/ -- As Layer 2 scaling solutions remain a focal point of industry discourse, Sonic presents a fundamental shift in blockchain architecture. HTX Research has announced the release of its latest report, " Sonic: A Model for the New DeFi Paradigm" The report dives into the details of the Sonic public chain. Sonic's Evolution: 2000+ TPS, 0.7s Confirmation, Near-Zero Fees The Fantom Opera blockchain, initially recognized for its speed and throughput as a high-performance aDAG-based Layer 1 solution, encountered scalability limitations as its ecosystem expanded. Its traditional EVM architecture struggled with bloated state storage, slow node synchronization, and execution bottlenecks. To overcome these challenges without resorting to sharding or Layer 2 solutions, Fantom developed Sonic — a fundamental redesign engineered to deliver a significant performance leap. Sonic Labs, a new team led by CEO Michael Kong, CTO Andre Cronje (founder of Yearn Finance), and Chief Research Officer Bernhard Scholz, dedicated two and a half years to the redesign of Fantom's virtual machine, storage, and consensus. They built Sonic, a new, independent EVM-compatible chain capable of processing over 2,000 TPS, achieving 0.7-second finality, and executing transactions at a cost of $0.0001. It also improves storage efficiency by 90% and reduces node synchronization time from weeks to under two days. Technical Innovations Driving Sonic's Performance Sonic's enhanced performance is underpinned by three core technological advancements: SonicVM: A newly developed virtual machine fully compatible with the EVM, SonicVM optimizes computationally intensive operations like SHA3 hashing, pre-analyzes jump instructions, delivers significantly faster execution, and supports high throughput. SonicDB: Achieving nearly 90% data compression, SonicDB uses a layered storage strategy that splits the blockchain state into two databases: LiveDB for the current global state and ArchiveDB for historical blocks and states. This reduces node requirements and enhances network resilience through greater decentralization. Sonic Gateway: Functioning like an "L2-like" bridging solution to Ethereum, it uses a batch processing mechanism that strikes a balance between security and efficiency, enabling seamless two-way asset transfers and ecosystem access. Stablecoin Ecosystem: Nested Yield and Resilient Growth Defying market trends in 2025, Sonic's on-chain Total Value Locked (TVL) surged by over 500%, with the total stablecoin supply surpassing $260 million. This growth is driven by sophisticated high-leverage yield mechanisms. Silo v2 Loop Lending: Use staked S tokens to borrow stablecoins, achieving up to 20x exposure to capture combined incentives alongside stable yield spreads. Euler + Rings Protocol Combo: Deposit USDC to mint scUSD, then use leverage to potentially achieve up to 10x yield, along with Sonic points and protocol rewards. Shadow DEX Liquidity Provision for Rewards: By facilitating trading activity, particularly with the S/stS pair on Shadow, users can earn up to 169% APY and a share of trading fees. Looking ahead, the ecosystem will incorporate Real World Asset (RWA) yields and off-chain payment solutions to create a sustainable and widely used stablecoin ecosystem backed by compliant assets and real-world applications. Conclusion: Sonic - Leading the Charge in DeFi 2.0 Sonic's high performance, nested yields, and accessibility position it for rapid growth, with the potential to exceed $2B TVL and a multi-billion $S token market cap within a year. More importantly, Sonic is championing an "efficiency revolution" in blockchain design—prioritizing performance and capital efficiency to attract liquidity. The report identifies technical challenges, including the adaptive AMM's reliance on external oracles, which introduces potential vulnerabilities. Furthermore, the inherent risks of high-leverage strategies in volatile markets necessitate the use of hedging instruments, such as short perpetual futures, to mitigate potential liquidations. From a broader view, Sonic is well-positioned to lead the expected 2025 DeFi resurgence. Its thriving stablecoin ecosystem boosts the value of both the $S token and the network. Even in a bear market, Sonic demonstrates the potential for DeFi to establish resilient "yield havens" through innovation and performance. With its nested yields, developer-focused incentives, and efficient infrastructure, Sonic provides a model for the industry. The integration of RWAs and payment tools could place Sonic as a critical bridge between on-chain yields and real-world utility, driving DeFi toward mass adoption HTX Research is the dedicated research arm of HTX Group, responsible for conducting in-depth analyses, producing comprehensive reports, and delivering expert evaluations across a broad spectrum of topics, including cryptocurrency, blockchain technology, and emerging market trends.
Yahoo
27-03-2025
- Business
- Yahoo
Blockchain Data Provider Chronicle Raises $12M to Expand Infrastructure for Tokenized Assets
Chronicle, a blockchain data provider focused on tokenized assets, announced on Tuesday that it has raised $12 million in a seed funding round. The investment was led by Strobe Ventures, formerly known as BlockTower Capital. Other backers include Galaxy Vision Hill, Brevan Howard Digital, Tioga Capital and Fenbushi Capital, alongside notable crypto angel investors such as Rune Christensen (Sky/MakerDAO founder), Andre Cronje (founder of Sonic and Yearn), Stani Kulechov (founder of Aave), Mark Phillips (co-founder of Steakhouse) and Sam MacPherson (co-founder of Phoenix Labs). Chronicle operates as an oracle network, offering real-time data verification for tokenized financial products. It has processed more than $20 billion in total value secured (TVS) since its launch in 2017 and is expanding its infrastructure to meet rising demand. The company recently rolled out its "Verified Asset Oracle," which ensures the authenticity of off-chain assets for issuers such as Centrifuge, Superstate and M^0. "As banks and asset managers accelerate tokenization initiatives, Chronicle's trusted data infrastructure provides the reliability and compliance capability these institutions require," said Thomas Klocanas, general partner at Strobe Ventures. The demand for real-world asset (RWA) tokenization is rising, as global banks and asset managers increasingly use blockchain rails for moving traditional financial instruments. Tokenized assets could become a multitrillion-dollar market by 2030, reports by McKinsey, Boston Consulting Group and others projected. Chronicle aims to tap into that rising demand by integrating off-chain data with blockchain-based assets by ensuring data security, auditability and cost-efficiency through a network of validators, including established financial data providers and crypto-native organizations like Sky, formerly MakerDAO. The company said it will use the new capital to advance product development, expand partnerships, and strengthen compliance measures, reinforcing its role as a bridge between traditional finance and digital assets. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
Associated Press
19-03-2025
- Business
- Associated Press
Deelabs Debuts First Public Research Report: 'An Asymmetric Bet On Solana'
Deelabs, a crypto-native advisory firm specializing in ecosystem development with active public contributions to the governance of major protocols including Arbitrum, Optimism and Ethena has published a research report titled 'An Asymmetric Bet On Solana: The Case For Marinade.' The comprehensive analysis identifies Marinade Finance as potentially the most compelling asymmetric opportunity within the Solana ecosystem, highlighting the protocol's unique positioning to capture institutional capital flows through its non-custodial native staking solution. Prior to this publication, Deelabs had already established its reputation in the blockchain space, having been recognized and referenced by prominent industry figures including Arthur Cheong (Founder & CIO of DeFiance Capital), Andre Cronje (Co-Founder & Architect at Sonic Labs and Founder of Yearn Finance) and Zion Thomas (Ansem). The report has gained additional traction after being shared by Marinade Finance itself, further validating the firm's analytical approach. 'Our research approach and thesis formulation have been solidified through private research initiatives and analyses that delivered meaningful outcomes,' said a Deelabs spokesperson. 'While continuing our private research efforts, we're now expanding to share select insights with the broader community.' Deelabs' research arm has previously identified several notable early opportunities, including Virtuals at $100M fully diluted valuation (FDV), Aerodrome at $20M FDV, and Coinbase at a market capitalization of $17.5B—all of which reportedly validated the firm's analytical framework. The newly released report on Marinade Finance represents what Deelabs considers an asymmetric opportunity within the Solana ecosystem, offering detailed analysis of the protocol's technology, functionality, and market positioning. The research highlights several key findings: Despite controlling 14% of Solana's liquid staked tokens through mSOL and an additional 65% (267 million SOL) through its native staking solution, Marinade's low market capitalization and fully diluted valuation reflects a significant undervaluation compared to its competitors such as Jito * Marinade's non-custodial native staking solution uniquely positions it to capture institutional and government Solana holdings, offering enhanced security without sacrificing yield * The protocol delivers consistently higher APY (10.12%) compared to cits ompetitors while maintaining superior security and validator distribution * Strategic moves including joining the Solana Incubator in New York and hiring former Fidelity Digital Assets executive Hadley Stern signal an institutional focus that aligns with growing interest in Solana The report also examines imminent catalysts including potential Solana ETF approvals, the protocol's existing partnership with Bitwise for European staking products, ongoing governance proposals to enhance token utility, and the strategic positioning within the broader Solana DeFi ecosystem. As a result of its successful private research initiatives, Deelabs has received significant interest from institutional capital allocators, which has partially motivated the shift toward publishing select research pieces in a more public capacity. As an end-to-end service provider in the crypto space, Deelabs offers ecosystem development, growth marketing, research, operations support, software development and other services to enterprises, foundations, and DAOs building in the blockchain space. The firm emphasizes that while its research aims to highlight interesting initiatives and showcase analytical frameworks, all published materials should not be considered financial advice. About Deelabs: Deelabs is a crypto-native agency that helps large-scale enterprises, foundations, and DAOs scale, grow, and cultivate decentralized, onchain ecosystems. With expertise spanning governance, marketing, research, operations, and development, Deelabs has demonstrated success in increasing on-chain activity, governance participation, and developing effective funding initiatives across various ecosystems.
