Intchains Group to acquire Proof-of-Stake technology platform for $1.3M

Intchains Group (ICG) announced the signing of a definitive agreement to acquire a Proof-of-Stake technology platform for $1.3M, from ECHOLINK. The PoS platform, which is currently operated by DxPool, upon completion of the acquisition, will become an independent offering under Intchains and will be operating with a new brand identity. The acquisition is expected to close in approximately 30 business days after the relevant closing conditions are met and does not include the DxPool brand, or any of Seller’s debts and liabilities, which will remain with the Seller. The acquisition of the PoS platform, a stable underlying infrastructure and common business platform components for blockchain applications in various fields, represents an important strategic step toward building long-term shareholder value through the expansion into high-margin, technology-driven services to address the increasing demand for staking of cryptocurrencies among both individual and institutional crypto investors. Specifically, the acquisition expands Intchains’ digital asset capabilities, adding staking operations for four prominent blockchains: Ethereum, Avalanche, Manta, and Conflux, positioning the company for growth in decentralized finance. The acquisition target consists primarily of intangible assets of the PoS technology platform, which comprise systems and technological infrastructure including complete source code, deployment configurations, operational playbooks, and related documentation supporting staking node operations, reward accounting, and monitoring frameworks; complete frontend, backend and API architectures for the staking service platform, and associated cloud-based environments and database structures; and complementary assets and documentation including technical data, materials, and integration frameworks necessary to ensure the continued operation and scalability of the business in line with existing performance, and the existing customers and business resources of the PoS technology platform. This acquisition provides Intchains with a proven, production-ready staking platform that can be leveraged to accelerate its expansion into blockchain infrastructure and digital asset management solutions. The integration of these systems and existing client relationships is expected to further diversify its technology offerings and contribute to Intchains’ business ecosystem which spans from altcoin mining machines to ETH accumulation and yield-generating investments, as well as its development of Web3 applications. Upon completion of the acquisition, Intchains intends to leverage both the newly acquired PoS platform and the FalconX platform to stake the bulk of its ETH holdings. This initiative forms part of Intchains’ ETH treasury yield-generating strategy, enabling it to diversify ETH holdings and maximize staking returns. Of note, the Company currently has 1,000 ETH, representing approximately 11.3% of its total ETH treasury holdings, staked on the FalconX platform.