[HashPalette Co., Ltd.] Announcement of conclusion of contract regarding transfer of HashPalette shares to Aptos Labs
HashPalette Co., Ltd. Press release: October 3, 2024 Notice of conclusion of contract regarding transfer of HashPalette shares to Aptos Labs In the future, we plan to promote the migration of Palette Chain to Aptos Network HashPalette Co., Ltd. (Headquarters: Minato-ku, Tokyo, Representative Director: Takayuki Hayashi, hereinafter referred to as HashPalette), which develops Palette Chain, is the complete parent company of HashPort Co., Ltd. (Headquarters: Minato-ku, Tokyo, Representative Director: Yoshihiro Yoshida, hereinafter referred to as ” Aptos Labs, also known as Matonee Inc. (Headquarters: California, U.S.A., CEO and Co-Founder: Mo Shaikh, hereinafter “Aptos”), which develops HashPort”) and Aptos Network, aims to migrate Palette Chain to Aptos Network. We would like to inform you that we have concluded a stock transfer agreement under which HashPalette will transition from a wholly-owned subsidiary of HashPort to a wholly-owned subsidiary of Aptos by transferring its shares from HashPort to Aptos.
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■About the migration of Palette Chain to Aptos Network Palette Chain is Japan’s leading entertainment-specialized chain, and has been used as the basis for NFT projects in various genres such as games, anime, and sports. With the support of our holders and various other partners, we are now in our 4th year of launch, reaching our halving date on August 23, 2024. In the past three years, 3.98 million NFTs (*1) have been issued on Palette Chain, 25.82 million transactions (*1) have been conducted, and 34 wallet addresses have sent or received transactions. It reaches 10,000,000 (*1). Palette Chain is also used in the EXPO2025 digital wallet for the 2025 Japan World Expo (hereinafter referred to as “Osaka-Kansai Expo”), which begins in April 2025. Although we have accumulated such achievements, the entire development team is aware that there are many issues that remain with Palette Chain, and we have been discussing fundamental solutions to these issues. In order to further accelerate the social implementation of Web3, as a result of repeated studies to ensure that the services built with Palette Chain achieve higher scalability and usability, and provide smoother access to the global Web3 market, we have made this decision. We decided that migrating to Aptos Network was the best solution. Aptos Network is a layer 1 blockchain that has its origins in the stablecoin project “Diem (formerly Libra)” that was previously worked on by Meta (formerly Facebook), and is characterized by high scalability, usability, and security. In addition, in terms of TVL (Total Value Locked), which is one of the indicators of the chain’s economic size, Aptos Network has exceeded USD 550 million (473% growth in the past 12 months), making it a strong contributor to the global Web3 market. We provide access channels. Through Palette Chain’s transition to Aptos Network, we believe that the Japanese Web3 market and the global Web3 market will organically collaborate, and efforts toward the social implementation of Web3 will further accelerate. ■About PLT Palette Token (PLT), Palette Chain’s governance token, will be exchanged for Aptos (APT), Aptos Network’s native token, after a certain exchange period from late November (scheduled). is. The exchange is scheduled to be carried out at a crypto asset exchange company. The exchange rate is scheduled to be 0.00339139 APT for 1 PLT (*2). Additionally, APT acquired through redemption may be subject to a one-year prohibition period. The above exchange rate and sale prohibition period may be changed through consultation with the crypto asset exchange company that conducts the exchange. Details will be announced separately, so please wait. ■About handling of other contents on Palette Chain We plan to gradually migrate the Elf Token (ELF), the game token of the metaverse farming blockchain game “THE LAND Elf Forest”, NFTs and games on Palette Chain to the Aptos Network. In the future, “THE LAND Elf’s Forest” plans to work closely with the Aptos game ecosystem. We also plan to gradually migrate NFTs, etc. issued on Palette Chain related to the EXPO2025 digital wallet provided by HashPort to the Aptos Network. After full migration, Aptos Network is expected to be the sole blockchain for EXPO2025 digital wallets. ■Comments from both companies The Japanese market is an important market for Aptos Labs, and the migration of Palette Chain to the Aptos Network is an important first step. The combination of Aptos’ scalable infrastructure and world-class team will unlock new possibilities in entertainment and digital for Japanese users and developers. We look forward to working with HashPort to promote Web3 in Japan. As the first project in Japan to conduct IEO, Palette Chain has taken on many challenges. HashPort Group’s corporate mission is “Bringing undiscovered value into daily life.” Our goal has been for Web3 to be implemented in society and for blockchain technology to enter our daily lives. Given that L1/L2 blockchain is moving into a mature market that requires huge upfront investment, migrating to Aptos Network, a global top-class blockchain, will realize our goal of social implementation of Web3. I think this is the best move. HashPort will continue to work closely with Aptos Labs to promote social implementation in the chain area. At the same time, we will
concentrate our management resources on the growth of the EXPO2025 digital wallet that will be provided at the Osaka/Kansai Expo starting from April next year and the popularization of its underlying technology, HashWallet, and will focus on social implementation in the Web3 wallet area. . ■Company profile Company name: Matonee Inc. Representative: CEO and Co-Founder Mo Shaikh Headquarters: California, USA Established: 2021 Business content: Blockchain business, web3 business Official homepage:
https://aptoslabs.com/ Official X:
https://twitter.com/aptoslabs Company name: HashPalette Co., Ltd. Location: 12th floor, Hamamatsucho Building, 1-1-1 Shibaura, Minato-ku, Tokyo Representative: Representative Director Takayuki Hayashi Established: March 2, 2020 Business overview: NFT specialized blockchain infrastructure development, web3 game development and operation, NFT business aimed at establishing communication
infrastructure in digital space Official homepage:
https://hashpalette.com/ Official X :
https://twitter.com/hashpalette (*1) Reference:
https://palettescan.com/ (*2) The calculation method is as follows. ・Reference price data: We will use the data of the exchange with the highest trading volume for both tokens. ・PLT: Daily closing price of PLT/JPY pair on Coincheck [USD] ・APT: Daily closing price of APT/USDT pair on Binance [USD] ・Price acquisition period and averaging method: Simple movement of the past 7 days (September 22, 2024 to September 28, 2024) from the day before the acquisition agreement conclusion date (September 29, 2024 (Japan time, same hereinafter)) Average ・Rate calculation formula: {Simple moving average of PLT price on Coincheck from 9/22 to 9/28}[USD] / {Simple moving average of APT price on Binance from 9/22 to 9/28}[USD] = 0.02750538 / 8.11035714 = 0.00339139 ■Contact information regarding this matter HashPort Co., Ltd. special email address
support_plt_acquisition@hashport.io
