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News

Prophecy DeFi Announces The Appointment of Mr. Peng Zhong to Advisory Committee


September 21, 2021

TORONTO, Sept. 21, 2021 /CNW/ - Prophecy DeFi Inc. ("Prophecy DeFi", or the "Company") (CSE: PDFI) is pleased to announce that it has appointed Mr. Peng Zhong to the Company's Advisory Committee, effective immediately.

Peng Zhong, CEO of Tendermint, leads a world-class team that builds applications to improve the usability, accessibility, and safety of blockchain for developers and end-users. Tendermint is a core contributor to the Cosmos ecosystem, which houses more than 250 blockchain projects and secures over $100B in digital assets. Projects on the Cosmos ecosystem include Binance Chain, Terra, Crypto.com, ThorChain, Osmosis, Kava, Fetch.ai, Injective Protocol, Persistence, Akash, Regen, and many more.

"I am excited to join Prophecy DeFi's Advisory Committee," said Peng Zhong. "Prophecy's team is poised to bridge this young but rapidly growing DeFi sector to mainstream investors. This team is extremely talented and equipped to accomplish great things."

"As the Chair of Prophecy DeFi's Advisory Committee, I am delighted to welcome Peng Zhong aboard. As CEO of Tendermint, Peng oversees a dynamic and fast-growing organization which developed and built critical infrastructure for the Cosmos Hub, a top 20 network worth more than $10 billion fully diluted. Tendermint's technology is mission critical to dozens of projects in the Cosmos ecosystem and beyond. Peng is also sought out for his blockchain insights and DeFi expertise by global corporations." said Alex Tapscott.

"We are thrilled to have Peng Zhong join as an Advisor to Prophecy DeFi," said John McMahon, CEO, Prophecy DeFi. "Peng has tremendous technical expertise and pedigree in both blockchain and DeFi and is recognized as a global leader in those communities. We look forward to Peng joining other industry experts on our Advisory Committee and collectively supporting Prophecy DeFi's mission to become a market leader in Decentralized Finance."

In connection with his appointment, the Company has granted 500,000 stock options to Mr. Zhong. The options are exercisable at a price of $0.45 per share, with a vesting period of six (6) months and an expiry of three years.

About Prophecy DeFi

Prophecy DeFi (CSE:PDFI) aims to bring together technology start-ups in the Blockchain and DeFi sectors to fund innovation, elevate industry research, and create new business opportunities in a coherent ecosystem.

Additional information about the Company can be found on the Company's website at: www.prophecydefi.com.

Forward-Looking Information

Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals and the possibility that the completion of the transaction may not occur. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE Prophecy DeFi Inc.

For further information: John McMahon, CEO, Tel: (416) 786-9031, Email: jmcmahon@prophecydefi.com

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