BOTS Inc. Acquiring 50% Stake in Decentralized Exchange, Beadswap
SAN JUAN, April 19, 2021 (GLOBE NEWSWIRE) -- BOTS, Inc. (OTC: BTZI), a vertical integrator and an emerging innovator of products, technologies, and services for the rapidly growing digital robotics automation, cybersecurity, and manufacturing industry, announced today that it entered into an agreement to acquire 50% ownership of Beadswap (in beta) from Equity Art Corp.
The purchase includes 50% ownership in a related 8.1 trillion beadswap coins (CRYPTO: BEAD) generated on the Ethereum blockchain and listed on Beadswap as seen here: https://info.beadswap.me/#/home
“We were attracted to the carefully designed Beadswap knowing that similar decentralized exchanges such as Uniswap enjoy a market cap of more than 10 billion USD with smaller upstart competitors to Uniswap quickly reaching more than 1 billion in market cap after launching as well as the magnitude of the seller’s assets and operational magnitude,” stated Bots’ Chairman, Simon Rubin.
A recent article published by Forbes.com entitled Coinbase, Kraken, Gemini, And Other Crypto Exchanges Must Embrace Defi To Capture Growth –described the following: “Coinbase’s direct listing on Nasdaq is a watershed moment for the crypto industry. It will be the first public crypto company with pure and dependable cash flows that are on par with some of the largest and most established exchanges in the world. Coinbase generated 2020 revenue of $1.3 billion, compared to CBOE’s $1.2 billion, Nasdaq’s $2.9 billion, and CME’s $4.9 billion. Despite launching a myriad of products such as Commerce (SPSC ), Earn, Custody, staking, and others, trading fees make up the lion’s share of Coinbase’s $3.4 billion LTD revenue, at approximately 96%. DEXs are a type of crypto exchange within the decentralized finance (“Defi”) ecosystem that allows for direct peer-to-peer transactions to take place without intermediaries. By utilizing decentralized smart contracts encoded on public blockchains, users always retain their private keys, which removes counterparty risk inherent to centralized exchanges. Defi offers a fast-growing ecosystem of continuous innovation as distributed project teams interact with open-source protocols and create novel use cases previously unimaginable. In order to be competitive and retain market share, centralized exchanges must form mutually beneficial symbiotic relationships with Defi platforms and products.
“DEXs” such as Uniswap, Sushiswap, 0x, Curve, Serum, Balancer, and others combined monthly volume surpassed $61 billion in January of this year. Six months prior, in July 2020, the combined DEX monthly volume was just $4.9 billion, an astounding increase of over 1,100%. Although the combined volume of centralized exchanges in January was considerably higher at $906 billion, DEX volume is catching up with a current volume ratio of 7%, up from 4.6% in July of last year.
“Coinbase, Kraken, Gemini, and other exchanges are thriving, but what will happen if decentralized exchanges (“DEXs”) continue their spectacular growth, fundamentally threatening to disrupt their centralized counterparts?”
In unrelated news, Bots expects to file its 10K later today and plans to provide an additional update when it reports its full third-quarter results later this month.
About Equity Art Corporation
Equity Art Corp., founded in 2004, is a large-scale enterprise specializing in asset collection, art trade, product development, and tourism. Headquartered in Xi’an, China, the Company’s business philosophy is inspired by the history and culture of the ancient Silk Road.
Equity Art’s flagship property is the Silk Route Museum, one of the largest privately-owned museums in China. It features a construction area of over 10,000 square meters and contains an international collection of over 35,000 works of fine art, historical artifacts, fossils, and jade masterpieces. The Company’s other projects include one of the world’s largest subterranean art galleries, the Dunhuang Natural History museum, a 700-acre Silk Road tourism and expo center, an art auction business, and the online travel platform Silkroad.host.
Recognizing the unique opportunity presented by blockchain to provide more reliable provenance tracking for art and antiques, the Company in 2018 created Equity Art Online; a digital division focused on utilizing distributed ledger technology, 3D scanning, and non-fungible tokens (NFT) to advance the art and museum industries. Beadswap, a decentralized asset exchange, is one of the core components of this initiative.
Beadswap.me is a decentralized exchange built on the Ethereum network. Users can swap, create markets, add liquidity, and stake Ethereum-based tokens without the use of an intermediary. Unlike traditional, centralized market-making, Beadswap uses an automated market maker (AMM) protocol to facilitate decentralized trading so that prices are determined algorithmically instead of through an order book. Shang He, Vice President of Equity Art Online, commented, “The total value locked in Defi platforms grew from around $1 billion a year ago to over $60 billion currently. We are excited to bring this groundbreaking new technology to help revolutionize the art and tourism sectors.”
About BOTS, Inc.
Headquartered in San Juan, Puerto Rico, BOTS, Inc. - publicly traded on the OTC Markets under the symbol (BTZI) is a diversified company developing and servicing blockchain, cybersecurity, and robotics solutions for its clientele. The Company is committed to driving the innovations needed to shape the future of digital robotic automation management through digital technology and decentralized blockchain solutions. Management is dedicated to the strong growth of Distributed Asset Technology and Robotic Process Automation (RPA).
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