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Polkadot Enhances Decentralization in Ecosystem Growth With the Launch of PolkaPort East in Hong Kong

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    HK, HK, June 5th, 2024, Chainwire

    Web3 Foundation, the entity supporting the growth of the Polkadot ecosystem, has awarded a grant to PolkaPort East. The Decentralized Futures (DF) grant is designed to help further decentralize Polkadot while spearheading technical, community, and broader ecosystem adoption.

    PolkaPort East is an independent entity leading investor relations and growth initiatives for Polkadot centered on Hong Kong and the Greater Bay Area. The DF grant from the Web3 Foundation is the first such award to be received by an organization working in Asia.

    The grant will support PolkaPort East’s goals of leading investor relations and growth for Polkadot in the region. Its mandate also includes promoting Polkadot and its technology, and acting as a key regional driver of capital into the ecosystem.

    Max Rebol, co-founder of PolkaPort East and CEO of Harbour Industrial Capital, a Polkadot-focused VC fund, said: “The launch of PolkaPort East comes at a crucial moment for Polkadot. It represents a critical step towards increasing the network’s decentralization while strengthening the ecosystem’s strategic position in Hong Kong. Thibault Perréard, also a co-founder who heads up strategy for Bifrost, a leading Polkadot parachain added: “With the support of the DF grant, PolkaPort East will be tapping into the thriving innovation hubs of Hong Kong and the Greater Bay Area while engaging and fostering relationships with local governments, global enterprises and capital allocators of the region.” 

    Vincent Chan, the third co-founder of PolkaPort East who formerly led growth initiatives at Parity Technologies, explained that following the receipt of the DF grant, the initiative will seek to attract participants to the Polkadot ecosystem across Asia. These include projects and developers looking to build on Polkadot, Polkadot-native VCs, funds, and capital allocators, as well as general web3 investors. It will also target Asian university blockchain collectives and associations, fintechs seeking to enter web3, and local government exploring the use of blockchain technology.

    Speaking on behalf of the Web3 Foundation, David Hawig, the Director of Ecosystem, stated “The Web3 Foundation is thrilled to support the Polkaport East initiative through a Decentralized Futures grant. This project exemplifies our commitment to fostering decentralized access and innovation within the Polkadot ecosystem. We believe Polkaport East will play a pivotal role in enhancing connectivity and empowering the community in Hong Kong, driving forward the vision of a truly decentralized internet.”

    About Decentralized Futures 

    The DF initiative developed by Web3 Foundation is designed to kickstart independent teams and initiative that will drive Polkadot’s success. It was established in 2023 following the restructuring of Parity Technologies which offloaded responsibilities for investor relations, growth and marketing to focus solely on technical development.

    Through the DF program, funding is available for Polkadot-focused organizations that aim to generate profit, as well as for non-profits that have a strategy to secure ongoing financing through Polkadot’s onchain treasury system. An initial $20M plus 5M DOT tokens have been allocated to Decentralized Futures to expand the Polkadot ecosystem.

    About PolkaPort East

    Based in Hong Kong, PolkaPort East is an organization tasked with spurring adoption of the Polkadot ecosystem in Asia with a focus on Hong Kong and the Greater Bay Area. By working with different entities ranging from developers to investors, PolkaPort East will help to fuel adoption of web3 technology and onboard new users to Polkadot.

    Contact

    DIrector
    Thibault Perréard
    Polkaport East
    [email protected]

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    Joint Stock Company Kaspi.kz Announcement: If You Have Suffered Losses in Joint Stock Company Kaspi.kz (NASDAQ: KSPI), You Are Encouraged to Contact The Rosen Law Firm About Your Rights

    2024-10-04T00:22:00Z

    NEW YORK, Oct. 03, 2024 (GLOBE NEWSWIRE) --

    Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Joint Stock Company Kaspi.kz (NASDAQ: KSPI) resulting from allegations that Kaspi.kz may have issued materially misleading business information to the investing public.

    So What: If you purchased Kaspi.kz securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

    What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=29172 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

    What is this about: On September 19, 2024, Culper Research issued a report entitled “Kaspi.kz (KSPI): The NASDAQ-Listed Fintech Moving Money for Criminals and Kleptocrats.” In this report, Culper announced it was “short Kaspi, the operator of the largest payment network and second largest bank in Kazakhstan. We believe Kaspi has systematically misled U.S. investors and regulators in its repeated claims – especially ahead of the Company’s January 2024 [NASDAQ] listing – that the Company has zero exposure to Russia.” Further, Culper announced its “research exposes this grave deception: we believe that not only do Kaspi’s relationships with Russian partners permeate every segment of its business, but that in the wake of Russia’s February 2022 invasion of Ukraine and into 2024, Russia has contributed materially to Kaspi’s reported growth. Our research further unmasks Kaspi’s history of shadowy dealmaking, which raises not only related party and self-dealing concerns, but also exposes the Company’s vast, longstanding ties to bad actors including sanctioned oligarchs and Russian mobsters. We believe that Kaspi’s premium valuation and US listing are at risk, and shares are headed lower.”

    On this news, Kaspi.kz American Depositary Shares’ (“ADS”) fell $19.82 per ADS, or 16.1%, to close at $99.81 per ADS on September 19, 2024, and a further $2.71 per ADS, or 2.7%, to close at $97.10 per ADS on September 20, 2024.

    Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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    Contact Information:

            Laurence Rosen, Esq.
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