Long Beach (CoinChapter) – Graph Blockchain Inc. announced an investment of $300,000 in Cardano’s native token, ADA. This is part of Graph’s staking capital that will be used for Proof-of-Stake mining using ADA.
This is the second company to receive funding from Graph Blockchain for Proof-of-Stake mining. Just last week, Graph invested 20% of its staking capital into Polkadot.
Graph Blockchain CEO Paul Haber commented on the latest investment. “We are exceptionally excited to be deploying funds into our second token purchase,” Haber said. “We anticipate that we will be making further purchases shortly to further tokenize our cash position and diversify our growing crypto portfolio.”
Haber continued, “As outlined in previous news releases, Graph believes that in 2021, there is the potential for smart contract platforms to implement solutions to facilitate mass adoption on decentralized blockchains. Cardano is widely believed to be just the project to accomplish this, and Graph is excited to add ADA, to the Company’s list of supported projects.”
Graph also announces stock options for directors, officers, advisors & employees
Graph also announced they have granted incentive stock options to directors, officers, advisor, and employees. These options are for those who purchase up to 12 million common shares in the capital of the company, pursuant to the stock option plan of the company. The options are exercisable at $0.125 per share and will expire two years from the date of grant.
Cardano has been one of the fast rising cryptocurrencies in 2021. It became the third-largest crypto by market cap at one point, though has now fallen to fifth. Additionally, the price surpassed the $1 mark for the first time this year and currently trades at $1.18.
This year Cardano plans to add more features such as support for native tokens and NFTs. They also have plans on adding a smart contract function that many believe will allow them to compete with Ethereum. This new function will allow people with little tech knowledge to write their own smart contracts.