Everything Blockchain in Lead Position on PulseX

Rhea-AI Summary

Everything Blockchain (OTCMKTS: OBTX) partners with Overwatch Partners to lead the ongoing on-ramp process for PulseX, PulseChain's DeFi swap application. This initiative aims to enhance user trading experiences and yield farming capabilities. The first sacrifice stage raised over $1 billion, marking one of crypto's largest unofficial rounds. PulseX is designed to outperform Uniswap with lower fees. CEO Eric Jaffe highlights the growth potential in the blockchain sector, underlining their commitment to transparency for investors. The official launch of Pulse and PulseX is expected in Spring 2022.

Positive

• Over $1 billion raised in the first sacrifice stage of PulseX, indicating strong investor interest.
• Partnership with Overwatch Partners positions Everything Blockchain strategically in the DeFi space.
• PulseX aims to provide lower fees and faster transactions compared to competitors like Uniswap, which could attract more users.
• Focus on innovation and transparency may enhance investor confidence.

Negative

• The official launch dates for Pulse and PulseX are not set, causing uncertainty.
• Potential reliance on future market conditions and regulations may pose risks to business objectives.

Jacksonville, Florida, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Everything Blockchain, Inc. (OTCMKTS: OBTX), an advanced platform architect, development and services company and software foundry, specializing in blockchain technologies, decentralized processing, and zero trust applications, has joined with the company’s largest shareholder, Overwatch Partners, Inc., to take the lead position during PulseX’s current on-ramp process. PulseX is PulseChain’s native DeFi swap application allowing users to exchange tokens on PulseChain for one another. Its goal is to provide users with the best possible trading experience and the ability to yield farm. It follows on the heels of PulseChain, which garnered headlines in 2021 with the aim to be faster, cheaper and bigger than Ethereum. Everything Blockchain also enjoyed notable success with HEX, the largest cryptocurrency certificate of deposit program, which is also helmed by the head of PulseX, Richard Heart.

The first stage of PulseX’s “sacrifice” concluded Jan. 10, with total investment of over $1 billion—one of the biggest unofficial rounds in the history of crypto. The sacrifice period will continue until Feb. 21. As the main DEX of the PulseChain ecosystem, PulseX is designed to be faster than Uniswap and have lower fees. The supply of the native token, with ticker symbol PLSX, will be determined based on the value of U.S. dollars sacrificed.

“With our constant focus on innovation and growth, PulseX presents a tremendous opportunity for our company and for our and shareholders,” said Everything Blockchain CEO Eric Jaffe. “Blockchain continues to expand globally in terms of usage and awareness, which is why we are laser-focused on making sure that Everything Blockchain is also transparent and accessible for our investors.”

The official launch date for Pulse and PulseX are not yet set but is anticipated to in the Spring of  2022.

About Everything Blockchain

Headquartered in Fleming Island, Fla., Everything Blockchain, Inc. (OTCMKTS: OBTX) is a platform developer, specializing in systems’ architecture, and a software foundry of blockchain technologies, decentralized processing, Internet of Things and Zero Trust. For more information, please visit https://www.everythingblockchain.io/

Forward Looking Statements

This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and zero trust- based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.

FAQ

What is Everything Blockchain's role in PulseX?

Everything Blockchain leads the on-ramp process for PulseX, a DeFi swap application on PulseChain.

How much was raised during PulseX's first sacrifice stage?

Over $1 billion was raised, making it one of the largest unofficial funding rounds in crypto history.

What benefits does PulseX offer compared to Uniswap?

PulseX is designed to be faster and have lower fees than Uniswap, aiming to enhance user trading experiences.

When is the official launch of Pulse and PulseX expected?

The launch is anticipated in Spring 2022, although exact dates are not set.

What risks are associated with Everything Blockchain's plans?

Risks include reliance on market conditions and regulatory factors that could impact their business objectives.