Defi Technologies lands TenX as second mandate

Executive Summary

• Defi Technologies Inc. secured its second mandate with TenX Protocols Inc., appointing Defi Advisory as strategic adviser and its subsidiary, Stillman Digital, as the exclusive digital asset trading services provider.
• The agreements involve an initial $600,000 in base advisory fees (payable in cash or TenX shares) and are expected to drive significant trading volume through Stillman Digital’s OTC platform.
• TenX is an emerging digital asset treasury company that recently completed a $29.9-million private placement and announced a reverse-takeover transaction with Iocaste Ventures for its public listing.

Key Details

• Advisory Agreement: Defi Technologies appointed as strategic adviser to TenX Protocols Inc.
• OTC Agreement: Stillman Digital (a wholly owned subsidiary of Defi Technologies) appointed as exclusive digital asset trading services provider.
• Fee Structure: Initial base advisory fees of $600,000, payable in cash or shares of TenX over an initial 12-month term.
• Performance Upside: Additional performance-based upside tied to strategic transactions catalyzed by Defi Technologies.
• Services Provided: Digital asset management strategy, trade execution via Stillman Digital, market intelligence via Reflexivity Research, and access to strategic digital asset relationships.
• TenX Background: Emerging digital asset treasury company focused on accumulating high-throughput, L1-based digital assets.
• TenX Leadership: Led by brothers Mat and Filip Cybula, co-founders of Cryptiv Inc. (acquired by Coinsquare in 2019).
• TenX Recent Activity: Closed a $29.9-million private placement of subscription receipts (in which Defi Technologies participated) and announced a reverse-takeover transaction with Iocaste Ventures to facilitate public listing.

Notable Quotes

• "Defi Advisory extends our vertically integrated platform to a new class of public digital-asset treasuries... Partnering with TenX underscores demand for end-to-end support-from exclusive OTC execution via Stillman Digital to market intelligence from Reflexivity Research and capital markets advisory -- so teams can grow responsibly and transparently." — Olivier Roussy Newton, CEO, Defi Technologies
• "Defi Technologies brings a strong track record of digital asset innovation, institutional trading infrastructure, and public market expertise. This partnership helps position TenX to scale its presence in the digital asset ecosystem with strategic, experienced partners." — Mat Cybula, CEO, TenX