TenX Protocols Achieves TSXV Listing and Secures Over $33M CAD in Funding

Summary: TenX Protocols, a leading blockchain infrastructure firm, has successfully listed its TNX stock on the TSX Venture Exchange (TSXV). The company raised over 33 million Canadian dollars in funding, which will aid in staking and yield generation activities within the fast-evolving blockchain landscape.

Key Takeaways

TenX Protocols has raised more than 33 million CAD in funding from reputable web3 projects.
The company’s TNX stock is now listed on the TSXV.
The funding includes private placements priced at $0.75 per receipt, totaling $29.9 million CAD.
TenX Protocols aims to provide auto-compounded staking rewards to both institutional and retail investors.
The company focuses on converting high-throughput network activities into sustainable financial returns.

TenX Protocols Provides Investors Access to Advanced Blockchain Networks

TenX Protocols has successfully raised over 33 million CAD in two funding rounds this year. This funding came from esteemed web3 projects such as Borderless Capital, BONK Contributors, DeFi Technologies Inc., HIVE Blockchain Technologies Ltd., and Chorus One, among others.

The listing of its TNX stock on the TSXV was achieved through both a brokered and a non-brokered private placement of subscription receipts. Each placement was priced at $0.75 per receipt, culminating in total proceeds of $29.9 million CAD. This also included in-kind transactions with cryptocurrencies like Solana (SOL), Sei (SEI), and USDC.

The raised capital is allocated to the purchase of crypto assets aimed at high-throughput blockchain environments. As a digital treasury company, TenX Protocols is dedicated to enabling investors to earn daily auto-compounded rewards through effective staking. Moreover, the firm runs a staking infrastructure that capitalizes on high-throughput blockchain networks to generate a steady cash flow.

“This financing and listing expands participation in our operations and supports our strategy of staking, yield generation, and infrastructure deployment in emerging blockchain ecosystems,” commented Mat Cybula, CEO of TenX Protocols.

At the heart of TenX Protocols' mission is the aspiration to turn high-throughput network activities into ongoing rewards. A critical investment from Chorus One has transformed TenX Protocols into a multi-region validator ecosystem, boasting over 99% uptime.

TenX provides both institutional and retail investors with reliable staking rewards, which are auto-compounded to expedite the growth of their investments. The platform is managed by a professional team, including Chief Operating Officer Filip Cybula, Chief Technology Officer Geoff Byers, and Chief Financial Officer and Corporate Secretary Martin Bui.

“With this investment in TenX, we support a seasoned team that aligns with our vision, can scale quickly, and will develop new avenues within the global fintech and crypto ecosystem,” stated Frank Holmes, Chairman of HIVE Blockchain Technologies Ltd, in a recent press release.