European digital asset investment firm KR1 posted a $5.6 million profit for the half year ending on June 30, 2019, mainly due to the launch of Cosmos network.

High returns from bull marketplace in H1 2019

In an acting report published on Bloomberg on Sept. 30, KR1 CEO George McDonaugh emphasized that the firm's portfolio surged in value in H1 2019 as Bitcoin (BTC) bounced off a low of $three,200 in belatedly 2018 to over $13,000 in mid-2019.

According to the report, the company'due south turn a profit was primarily driven by the successful launch of the Cosmos network, considered to exist one of KR1'due south most successful investments and so far.

Revenues from staking Atom

The visitor'southward strategy to stake their Cosmos token (ATOM) has produced a significant monthly staking yield, reportedly recognized in acquirement of £116,788 ($143,621) over the three-and-a-half-month period following Cosmos' launch on March 14.

Every bit previously reported, Cosmos network claims to function every bit "the Internet of Blockchains," working as a mediator between unlike blockchain networks. Cosmos reportedly became the first in a series of proof-of-stake (PoS) chains developed by California-based startup Tendermint.

In the announcement, KR1's CEO expressed confidence about PoS blockchains including blockchain interoperability protocol Polkadot and Dfinity, noting that such projects volition generate healthy cashflows. As such, KR1 is reportedly getting involved with Commonwealth Labs, a startup building a system for anyone to participate in the governance of decentralized networks, and Edgeware, which are reportedly building on Polkadot.

On Sept. 26, major crypto exchange Binance launched a dedicated staking platform, allowing users to earn staking rewards by depositing their token holdings.