All Industries

Poseidon Nickel identifies new targets at Windarra

POSEIDON NICKEL LIMITED

Poseidon Nickel Ltd (ASX:POS) CEO Craig Jones sits down with Proactive’s Jonathan Jackson to discuss the identification of two new highly prospective nickel sulphide targets at WIndarra Project that bring the total to six so far. POS is particularly interested in these new targets, as they are overlayed by prospective geology and supported by field mapping data as well as surface geochemistry. Jones also discusses the value of the collaborations in the region, which is helping it advance several quality greenfields nickel and lithium targets at Lake Johnston and how these collaborations have re-rated its nickel potential. Finally, Jones speaks about the work going on at Lake Johnston. "In regards to Windarra," Jones said, "it’s important to note that the nickel sulphide prospectivity is underpinned by its large nickel endowment consisting of 114,000 nickel tonnes in ore historically mined, and 148,000 tonnes of nickel within the existing mineral resources. "The recently completed stage one geological assessment focused on modelling the basal contact and characterising the overlying ultramafic rocks. The assessment has identified new windows of opportunity along the extensive 21 kilometres of preserved basal contact strike, where only 10 kilometres has been meticulously assessed and validated to date." Contact Details Proactive Investors Jonathan Jackson +61 413 713 744 jonathan@proactiveinvestors.com

February 14, 2024 03:35 PM Eastern Standard Time

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Lithium Universe aims to close lithium conversion capacity gap in North America

LITHIUM UNIVERSE LIMITED

Lithium Universe Ltd (ASX:LU7) CEO Alex Hanly joins Proactive’s Jonathan Jackson to discuss the company's approach to addressing the lithium conversion capacity gap in North America. Hanley speaks about its progress with metallurgical testing and the development of a lithium refinery in Quebec. He explains the strategic importance of this project, highlighting the company's ability to process spodumene from various sources, which is essential for adapting to market changes. Hanly also gives his perspective on the current state of the lithium market and the future prospects for Lithium Universe within it. Finally, Hanley gives an update on the company's progress in finalising feasibility studies for its projects. Chairman Iggy Tan expressed his satisfaction with the advancements in metallurgical test work. "Despite the decline in lithium prices affecting numerous industry players, Lithium Universe is full steam ahead. We view the current short-term dip in lithium prices as an advantageous window to finalize feasibility studies before the onset of the next cycle. These moments present tangible opportunities for our organization.” Contact Details Proactive Investors Jonathan Jackson +61 413 713 744 jonathan@proactiveinvestors.com

February 14, 2024 02:50 PM Eastern Standard Time

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Lightbits Closes FY23 with Outstanding Growth as Customer Demand Accelerates

500NewsWire

SAN JOSE, Calif., February 14, 2024 – Lightbits Labs (Lightbits®), an innovator of disruptive cloud data storage that delivers efficient, flexible, and resilient cloud infrastructure for performance-sensitive workloads at scale, proudly announces its exceptional performance results from 2023, marked by a 3X increase in software revenue compared to the previous year. The company attributes its growth to increasingly steady demand from enterprise organizations seeking cost-efficient cloud storage with the flexibility to provision storage resources where and when they are needed without compromising on performance, scalability, or data services. Lightbits appeals to business leaders with a hybrid or multi-cloud strategy, offering license portability across clouds while delivering the same superior performance and robust data services capabilities across any deployment platform–on-premises or public clouds. Additional indicators that Lightbits’ modern, software-defined cloud data platform is well-positioned in the marketplace is a YoY 2X increase in pipeline, revenue, and average deal size across the board. Customer growth is attributed to the expanded use cases for the Lightbits data platform. Lightbits built its business with specialty Cloud Service Providers, which remains a core focus. Last year saw the expansion of use cases with Lightbits becoming an integral component of cloud infrastructure for Online Retailers building eCommerce platforms on-premises and in the public cloud, AI Clouds, and global Fortune 500 financial services organizations launching their own cloud services. The company’s growth aligns with the broader investment trend, as Fortune Business Insights projects the cloud market to expand from $480B in 2022 to an estimated $1.7T by 2029, registering a compelling CAGR of 19.9%.1 Having launched Lightbits as a Managed Service on Azure last Fall, the company remains poised for sustained innovation and growth with Lightbits for Azure VMware Solution (AVS) offering an effective alternative to enterprise organizations that want to migrate their performance-sensitive workloads to the cloud. Lightbits is the first NVMe® over TCP external storage target for AVS promising scalable high-performance, consistent low latency, and predictable low storage costs. And because AVS is a fully consistent VMware platform, organizations can “lift and shift” their workloads without expensive application refactoring. For organizations using container orchestration or running top-tier databases Lightbits on Azure also provides cost-efficient, resilient storage for Azure Kubernetes Service (AKS) and Oracle on Azure. Since launching the global channel program Lightbits Luminary Program, Lightbits has experienced a surge in interest with the channel base increasing by twenty-two percent from the previous year. The differentiated data platform enables partners to capture a greater share of the growing cloud market which grows top-line revenue. For systems integrators, resellers, and other organizations with a cloud practice interested in joining the Lightbits program, go to the Lightbits Luminary Global Partner Program website or email partners@lightbitslabs.com. A summary of key accomplishments follows. Product innovation In September 2023, In 2023, Lightbits received two more patents, for a total of eighteen patents and many more pending, reinforcing its commitment to disrupting the market with innovative and relevant cloud solutions: Awarded Patent 11,789,632 for a “system and method for data placement in multiple tier storage systems. Awarded Patent 11,740,804 for a “system and method for performing data striping.” Key announcements In September 2023, Lightbits Launched the Global In March 2023, Industry validation Lightbits received several significant industry awards in 2022: Lightbits Wins CRN’s “” for the Second Year in a Row Lightbits Recognized As TechTarget Names Lightbits Lightbits Named to Supporting Quotes Patrick McGregor, Chief Product Officer, Crusoe Cloud “Lightbits has been instrumental in helping us build a high-performance, climate-aligned AI cloud platform. They continue to be a great partner, providing continual improvements in product usability and high quality, hands on support for our team.” Read Crusoe’s blog, “ How We Built an AI Cloud Powered by Lightbits. ” Stefan Majer, Chief Technology Officer, x-cellent technologies GmbH and metalstack.cloud “No other storage solution had the same price-performance ratio and tight integration into Kubernetes. In particular, the achievable latency with Lightbits is outstanding.” Lightbits will be demonstrating fast, persistent, cost-efficient storage for Kubernetes with metalstack.cloud, a managed Kubernetes service, in Stand #M9 at KubeCon Europe, March 19-22, 2024, in Paris, France. Eran Kirzner, Co-founder and CEO, Lightbits Labs “I am immensely proud of our accomplishments last year. The solutions we launched deliver efficient, flexible, and resilient cloud data storage for performance-intensive workloads at scale. Business leaders who want to remain competitive by innovating faster while controlling cloud storage costs have to architect agile infrastructure with software-defined everything. Our solution delivers simple provisioning, with the flexibility to move storage services where they are needed. We thank our customers for their trust and partners for their contribution to our success and look forward to continuing to shape the future of cloud data, together.” Scott Sinclair, Practice Director, Enterprise Strategy Group “Our research illustrates that a majority of organizations turn to the cloud for strategic benefits in terms of superior innovation and accelerated time to value. That same research illustrates that cloud migration is hindered by the ability to control cloud storage costs. The Lightbits solution breaks the barriers to cloud adoption by delivering the performance requirements for today’s workloads at scale while delivering predictable and lower cloud storage costs and reducing overall TCO. We expect this to be an especially compelling solution for organizations who want to migrate their virtualized database workloads to the cloud leveraging the Lightbits for the Azure VMware Solution.” Ned Engelke, Chief Technology Officer, EVOTEK, a Lightbits Luminary Genius Partner “The exceptional growth and demand for Lightbits' innovative cloud storage mirror the market's recognition of its ability to solve enterprise data center cloud modernization problems. Last year’s success was nothing short of remarkable, jointly acquiring a Fortune 100 financial services customer and growing our businesses with new use cases for cloud-architected data centers.” Additional Resources: Lightbits on the Microsoft Azure Marketplace Storage options for Oracle on Azure VMs Lightbits on the AWS Marketplace 1 Fortune Business Insights, "Cloud Computing Market Size, Share & COVID-19 Impact Analysis, By Service Type (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), By Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), By Industry (BFSI, IT and Telecommunications, Government, Consumer Goods & Retail, Healthcare, Manufacturing, Others), and Regional Forecast, 2022-2029. About Lightbits Labs Lightbits Labs® (Lightbits), offers a complete data platform that enables organizations to run performance-sensitive workloads on the public cloud or to build a high-performance, cost-efficient on-premises private cloud. The software-defined, NMVe/TCP and clustered architecture, coupled with essential data services solve the common cloud storage challenges of performance, efficiency, and cost eliminating the barriers to cloud adoption. Lightbits is backed by enterprise technology leaders [Cisco Investments, Dell Technologies Capital, Intel Capital, Lenovo, and Micron] and is on a mission to deliver a robust cloud storage platform with unmatched performance, efficiency, agility, and flexibility. Lightbits and Lightbits Labs are registered trademarks of Lightbits Labs, Ltd. All trademarks and copyrights are the property of their respective owners. Contact Details Lightbits Carol Platz pr@lightbitslabs.com

February 14, 2024 12:11 PM Eastern Standard Time

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Nextdoor Helps Share Kindness in Your Neighborhood

YourUpdateTV

A video accompanying this announcement is available at: https://youtu.be/Ks0CSHf9e3Y Everyone loves a random act of kindness – from a stranger paying for your coffee or giving you a seat on the bus– these little spontaneous actions make a big impact. Small and spontaneous gestures matter even more than we may think. Too many times we forget the impact that simple gestures can make –this is exactly why National Random Acts of Kindness Day is being celebrated – to encourage everyone to spread kindness. Nextdoor wants you to know that it’s not just about spreading kindness, this winter season you should not be shy about making an ‘ask for’ kindness too; often, if you ask a neighbor for help shoveling snow, or cleaning storm drain - they’ll step in and help. Simply giving recognition to someone is another great way to brighten their day. Nextdoor has a new product feature called #ThankANeighbor, that provides a thoughtful prompt to celebrate the displays of kindness you see in your neighborhood. You can read more about it here: https://blog.nextdoor.com/2023/11/03/nextdoor-thank-a-neighbor/ On February 6th, Caty Kobe, Nextdoor US Market Lead, conducted a nationwide media tour to discuss National Random Acts of Kindness Day and these topics: · Provide neighbors with tips about how to celebrate kindness in their neighborhoods, · Advise viewers that 'asks for' kindness are often welcomed by neighbors, particularly during winter weather events. · Highlight new features on Nextdoor that help neighbors recognize and honor one another. To connect with your neighbors on Nextdoor.com, download the app on Google Play or the Apple App Store, or visit nextdoor.com Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

February 14, 2024 12:09 PM Eastern Standard Time

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News Release

The Necessity of PSYCH-K® and Understanding Subconscious Mind: Mary Greene Mazur’s Journey to Enlightenment

Prodigy Press Wire

In an era where people are becoming more open-minded to mental health awareness and nurturing the spiritual part of humanity, new ways of discovering happiness and freedom are being unearthed. Mary Greene Mazur, a Certified PSYCH-K® Instructor, and the Executive Director of Ignite and Heal Ministries SSM, has been helping individuals improve their lives since 2010. With the use of PSYCH-K®, Mary enables people to birth their true essence, unlocking their inner power and wisdom. She does so by inspiring the surfacing of self-enhancing beliefs that propel lives toward a positive and purposeful direction. PSYCH-K® is a simple and profound holistic process originated by Rob Williams 30 years ago. It serves as a spiritual template on how to change corrupted programs most people are imprinted with. By transforming low-frequency energy, based on fear and survival, into positivity and love, PSYCH-K® acts as a spiritual counsel that allows people to communicate with their subconscious mind. Mary Greene Mazur, with the assistance of PSYCH-K®, can transform beliefs that limit a person’s full potential, igniting a light that creates a sense of wholeness. Knowing what it means to live in the shadows, Mary made it her mission to free people from the restrictive beliefs of the system. Her father had a drinking problem, and Mary has been familiar with fear, punishment, and physical abuse since childhood. “With knocked-down self-worth and outside expectations to fit into reality, I had to fight a battle within myself. Only after transcending that negativity, was I able to be in harmony with myself,” shares Mary. The groundbreaking moment came when Mary’s husband at the time was diagnosed with leukemia at 45 years old. His father and sister died at the age of 50 because of cancer, and Mary’s husband came to terms with what he thought was the sad reality – that he was going to die soon. He thought that fate was programmed into him by science, but Mary couldn’t accept that scenario. Within a year of her former spouse’s diagnosis, Dr. Bruce Lipton’s book, The Biology of Belief, unexpectedly showed up at Mary’s workplace. The book is where Mary learned about the art of PSYCH-K® for the first time. Accustoming herself with Dr. Lipton’s philosophy changed Mary’s perception, and gave her life a new direction. The Biology of Belief played a pivotal role in Mary’s understanding of how human bodies work. What most people believe is that genes and DNA control everything, and Mary realized the myth behind it through Dr. Lipton’s perspective. “Our brains are in our cell membranes, which means we respond to our environment. Everything you respond to, you create. That means, you are the creator of your own life,” explains Mary. Mary points out religious concepts as another reason behind the disconnect that’s in many people’s bodies. Through demarcating divinity from humans, religion took away the spiritual part of perception, leaving people with just the body and the mind. That left an insatiable gap that only the spirit can fill. “We were embodied with fear of punishment, especially through religion. For thousands of years, we were told that God is outside of us and that he’s to be feared. I realized that’s not true. The mind is the part that draws conclusions, and it’s my job to make you question those negative conclusions. The only way to do that is by realizing that divinity is within yourself, and not coming from outside ourselves expressed from religion,” expresses Mary. Now, after years of living in fear, Mary eagerly admits, “I love life and I’m very passionate about it.” But being born during the civil rights crisis in 1968, Mary is one of the people wounded just by being born in the depression era. “All I was taught is to get a good job, take care of myself, and work hard. My parents always believed people should do just enough to survive. No one back then was talking about big dreams, or living joyfully. But when you look at Mother Nature, she’s abundant. And we, too, are meant to live abundantly,” manifests Mary. Mary’s mission has always been to help others. As a Registered Nurse, she’s been assisting mothers in giving birth since 1992. After her husband’s diagnosis, Mary became a PSYCH-K® Facilitator in 2010, a Reiki Master in 2012, a Board Certified Holistic Nurse in 2014, and a Certified PSYCH-K® Basic Instructor in 2017, becoming one of only 35 Instructors in the world. Having possessed the necessary qualifications, Mary embarked on a life-changing journey of embodying love and light. “Whatever happens to you, happens for you” is the foundation of Ignite and Heal Your Life. With that mantra in mind, Mary has been helping people choose love instead of fear in the face of hardships, inspiring the awakening of divinity that lies within each human. Media Contact Name: Mary Greene Mazur Media: mary@igniteandhealyourlife.com Release ID: 911361

February 14, 2024 11:30 AM Eastern Standard Time

Horizon Minerals to merge with Greenstone to create new emerging gold producer in WA Goldfields

HORIZON MINERALS LIMITED

Horizon Minerals Ltd (ASX:HRZ) CEO Grant Haywood sits down with Jonathan Jackson in the Proactive Australia studio to discuss a proposed merger with Greenstone Resources. The merger is designed to create a new emerging gold producer in the WA Goldfields, providing Horizon with an opportunity to establish the next mid-tier gold producer by bringing together complementary assets and teams. This includes the company’s resources - Horizon has 1.3 million ounces over a very large landholding in the Eastern Goldfields of WA within a 75 kilometre radius in and around Kalgoorlie and Coolgardie while Greenstone has 500,000 ounces near Coolgardie. Combining the entities gives significant increase in scale to 1.8 million ounces. Haywood talks about the benefits of the merger, its structure, assets and what investors can expect next. Haywood said: “We believe this proposed merger represents a unique opportunity to build our resource base in the WA Goldfields with higher grade deposits near established mining and processing infrastructure. "This really is a logical consolidation of complementary assets which creates greater potential for Horizon to unlock the value within our longer project pipeline." Contact Details Proactive Investors Jonathan Jackson +61 413 713 744 jonathan@proactiveinvestors.com

February 14, 2024 10:50 AM Eastern Standard Time

Video

Alkane Resources delivers promising results ahead of gold-copper resource update

Alkane Resources Limited

Alkane Resources Ltd (ASX:ALK) managing director Nic Earner joins Proactive’s Jonathan Jackson in the Australian studio to talk about promising from recent infill drilling at the Northern Molong Porphyry Project (NMPP) in Central West NSW. Earner takes us through the highlights of the program and its aims to evaluate the potential of the Kaiser deposit as the company moves towards a gold-copper resource update at NMPP. Results yielded several broad intersections that reveal notable grades of gold and copper and give the company confidence in the continuity and extent of mineralisation across the project. Final results are expected to be available in March and the updated resource completed in March/April. Earner said: “The shallow infill drilling at Kaiser has been completed, showing higher grades from surface in these latest results as well as strong continuity of mineralisation at depth. Both the near-surface grades and continuity at depth are encouraging as we look to update the Kaiser mineral resource estimate. “We expect to have the final results available to announce in March and the updated resource completed in March/April. The updated Kaiser resource estimate and the recently released Boda resource update will then be combined in a scoping study to demonstrate the size and scale of these deposits as well as their potential economic value." Contact Details Proactive Investors Jonathan Jackson +61 413 713 744 jonathan@proactiveinvestors.com

February 14, 2024 10:15 AM Eastern Standard Time

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Legible Launches Cristina Ferrare's First "Living Cookbook" with Embedded AI Sous Chef

Legible Media Inc

Series of 15 Living Cookbooks to be released bi-monthly Exclusively available to Legible Unbound members February 14, 2024 – TheNewswire - Vancouver, British Columbia – Legible Inc. (CSE:READ) (OTC:LEBGF) (FSE:D0T) ("Legible” / “Company”), a global digital reading platform, eBookstore and e-publisher known for its innovative offerings, is excited to unveil the exclusive launch of iconic former supermodel Cristina Ferrare's first “ Living Cookbook”, My Model Kitchen - Volume 1: Pasta. In this unique multimedia- and AI-enriched eBook, Cristina personally communicates with readers via videos sharing insights and tips along with her cherished pasta recipes. Readers also have access to the world’s first AI Sous Chef, which provides in-depth responses to cooking queries and tips for chefs of any level. Cristina Ferrare said, "I am truly honored, humbled, and excited about my new association with the global innovative world of Legible. I am dedicated to working with the entire forward-thinking team in bringing to life My Model Kitchen, the first-of-its-kind multimedia cookbook, to the public. Timed to coincide with Valentine’s Day and my love of cooking, I thought it only appropriate to time the release of Volume 1: Pasta to be today!” Deeply rooted in her Italian heritage, the book opens with an homage to Cristina’s Italian family, setting the stage for a culinary journey showcasing a variety of pasta dishes, each representing the rich culinary traditions of Italy's diverse regions. From her mother's hometown of La Spezia in Liguria to her Nona's roots in Tuscany, she brings to the table a symphony of flavors and techniques. These recipes, passed down through generations, are a testament to the importance of family in the Italian way of life. My Model Kitchen - Volume 1: Pasta is the first in a series of 15 Cristina Ferrare Living Cookbooks to be released bi-monthly exclusively via Legible’s Unbound membership service, which offers access to a vast selection of best-selling eBooks and audiobooks from major publishers and distributors, and compelling Legible original content. Whether you are a beginner or an experienced chef, these recipes will guide you through the process of creating authentic Italian pasta dishes in your own kitchen. Kaleeg Hainsworth, CEO of Legible, said: “Cristina Ferrare's personal stories and family history bring a unique warmth to each dish, making this cookbook not just a guide to Italian cooking, but a passage into the heart of Italian culture. This is also a perfect opportunity to launch our large promotion campaign for a special annual membership offer in parallel. Please join us on https://unbound.legible.com in celebrating the release of this culinary treasure.” About Cristina Ferrare Cristina is an accomplished author – her book “A Big Bowl of Love”, based on her show of the same name on the Oprah Winfrey Network (OWN) and published in 2011, enjoyed an enthusiastic reception across the US. Her books “Okay So I Don’t Have a Headache”, a New Times Best Seller, “Food For Thought”, which reached #1 on Amazon for Brain Health and “Realistically Ever After: Finding Happiness When He's Not Prince Charming, You're Not Snow White, and Life's Not a Fairy Tale”, are all bestsellers. Cristina started modeling with the New York-based Ford modeling agency aged 16, launching a 25-year supermodel career that included gracing the covers of leading fashion magazines including Cosmopolitan, Vogue, Good Housekeeping, Harper’s Bazaar, and Ladies Home Journal, among others. She appeared in Kellogg commercials for OWN and was featured on over 20 million Kellogg cereal boxes along with her recipes. Cristina has recently signed with top New York modeling agency Iconic Focus. In the early 80s, Cristina worked as a co-host of the show “AM Los Angeles”, which was rated the number one morning television show throughout her five-year tenure. She has hosted her own shows - “Cristina and Friends” and “Home and Family” - a two-hour Universal Studios live show. She was also a substitute co-host on “Good Morning America” and co-hosted “Live with Regis and Kathie Lee” numerous times. Cristina has spoken at many conventions including “The Women’s Conference” in 2004. In 2007, alongside Chef Art Smith, she hosted a cooking session for over 300 women. She was the keynote speaker at the Creative Connection annual meeting in St. Paul, Minnesota in 2011. In 2023, she was the keynote speaker at the Influencers of Midlife Summit for women over 40. The success of Cristina’s authoring, cooking and modeling careers highlights her unique breadth of knowledge and expertise on women’s health, culinary arts, wellbeing, stylistic design all brought to enthusiastic audiences through her sense of humor and great passion for life. For more information, please follow Cristina on Instagram: www.instagram.com/cristinacooks About Legible Inc. Legible is a groundbreaking, mobile-centric global company specializing in eBooks and audiobook entertainment, boasting a market opportunity exceeding billions of dollars. Legible’s extensive partnerships encompass four of the Big 5 Publishers and the world's largest eBook distributor, enabling it to seamlessly deliver millions of eBooks and audiobooks, effectively transforming any smart device into a dynamic library and eBookstore. At the heart of Legible’s innovation lies its LibrarianAI, the world's pioneering AI-powered assistant, enhancing the reading experience. Legible’s publishing division is revolutionizing the industry by crafting proprietary AI-enriched multimedia books, setting new standards in literary engagement. Legible is at the forefront of reshaping the digital publishing landscape, committed to gaining a significant market share by providing innovative 21st-century publishing solutions and enriching global reading experiences. Please visit Legible.com and discover the place where eBooks come to life. Contact Ms. Deborah Harford EVP, Global Strategic Partnerships Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T) E-mail: invest@legible.com Website: https://invest.legible.com Investor Relations Mr. Neil Simon, CEO Investor Cubed Tel: +1 647-258-3310 E-mail: nsimon@investor3.ca Cautionary Note Regarding Forward Looking Information This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible's control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

February 14, 2024 08:31 AM Eastern Standard Time

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PayPal’s PYUSD gets DeFi yield powered by Backed’s real-world assets on Morpho

Backed

PYUSD users can now access yield powered by Backed’s tokenized real-world assets (RWAs) on Morpho Blue - this marks the first time the stablecoin has been added to a major lending market. PYUSD, the regulated USD stablecoin issued by Paxos for PayPal, can now be deposited into a vault curated by Steakhouse Financial on Morpho’s new decentralized lending protocol, Morpho Blue. Users get yield on their PYUSD by lending to users who take out loans. Steakhouse Financial has chosen to use the permissioned wrapped version of Backed’s tokenized T-Bill ETF bIB01 and Lido’s wstETH liquid staking tokens as the principal collateral assets of the vault. PYUSD - A Regulated Stablecoin and a Serious Contender This integration significantly strengthens the utility of PYUSD within the DeFi landscape, which has already become one of the top 10 stablecoins since its launch only a few months ago. Recently, PYUSD enabled Chainlink Price Feeds for reliable on-chain data, showing their commitment to developing PYUSD into a serious challenger stablecoin. This move further underscores PayPal's commitment to fostering a vibrant and inclusive DeFi ecosystem. PYUSD is issued under New York State Department of Financial Services (NYDFS) supervision. Dual-Engine Yield The PYUSD vault is curated by Steakhouse Financial, a leading DeFi consultancy. The lenders who deposit PYUSD into the vault are exposed to the “Dual Engine”, an approach that combines traditional real-world yields with crypto yields to optimize returns across different market conditions. Tokenized Real-World Assets Backed’s bTokens track the value of an underlying real-world asset. Tokens are fully collateralized by the underlying assets and traded over the blockchain in compliance with the Swiss DLT act. Bringing these assets on-chain provides users with stable yields uncorrelated from the wider crypto market. bTokens are flexible, and can be both permissionless or permissioned depending on the use case. Permissionless Lending Markets Morpho Blue's unique feature of allowing anyone to create lending markets with any assets has allowed it to break ground as the first lending platform to support PYUSD. This permissionless approach fosters innovation and empowers the community to drive the protocol’s growth, ensuring a dynamic and adaptable ecosystem for users. QUOTES: “At Backed, we’re creating the most composable and interoperable tokenized real-world assets. We focus on providing best-in-class reliability for our investors, and are looking forward to seeing bToken’s increased adoption in new lending markets.” Adam Levi, Co-founder at Backed “At Steakhouse Financial, we deeply believe in open and transparent finance and we work hard, together with leading projects, to bring about this vision. The Dual Engine strategy marks the beginning of delivering real-world yields and crypto yields to work for non-US investors in all market conditions.” - Sébastien Derivaux, Co-Founder at Steakhouse Financial “At Morpho we believe protocols should do less to enable more. Morpho Blue is a remarkably simple protocol that facilitates lending of any asset. We are excited to see its permissionless market creation being used to support the adoption of PYUSD.” - Paul Frambot, Co-founder and CEO at Morpho Labs About Backed Swiss-based Backed brings real-world assets on-chain. Backed issues permissionless tokens that track the value of real-world assets and are fully collateralized by them, such as stocks or ETFs. Tokens are issued in compliance with the Swiss DLT Act. Backed’s tokens are not offered, sold, or delivered within the United States, or for the account or benefit of U.S. Persons. Contact David Henderson, Marketing Lead at Backed Mail: david@backed.fi LinkedIn: https://www.linkedin.com/company/backed-finance/ X / Twitter: https://twitter.com/backedfi Website: https://backed.fi/ About Steakhouse Financial Steakhouse Financial Limited is the leading web3-native DeFi consultancy, specializing in stablecoins, real-world assets and providing finance workstream contributions to leading DAOs such as MakerDAO, Lido DAO, ENS, and other protocols. X / Twitter: https://twitter.com/SteakhouseFi https://steakhouse.financial About Morpho Morpho is a decentralized lending protocol with over $1.5B in deposits. The latest version, Morpho Blue, is a simple and immutable primitive enabling efficient lending of any digital asset. X: https://twitter.com/MorphoLabs Website: https://morpho.org/ DISCLAIMERS: Backed DOES NOT sell its tokens to U.S. Persons or for the account or benefit of U.S. Persons, and tokens are not marketed, offered, or solicited in the U.S. or in any other prohibited jurisdiction. The Backed Assets bIB01 (ticker symbol: bIB01) is a tracker certificate issued as an ERC-20 token, which tracks the price of the iShares $ Treasury Bond 0-1yr UCITS ETF. Backed Finance AG and its subsidiary Backed Assets GmbH are not affiliates of or licensed by BlackRock Inc, BlackRock Fund Advisors and any of its affiliates ("BlackRock"). BlackRock is not responsible in any way for bIB01 products. Contact Details MarketAcross PR pr@marketacross.com

February 14, 2024 08:30 AM Eastern Standard Time

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