DWF Labs Invests $10M in the TON Ecosystem
Through this partnership, DWF Labs supports TON with an investment, token development, market creation, and exchange listing.
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DWF Labs, the leading blockchain industry market maker, has become a prominent supporter of the TON ecosystem. Through its partnership with the TON Foundation, DWF Labs supports The Open Network with an investment, token development, market creation, and exchange listing.
Helping Grow the TON Blockchain
DWF Labs commits to allocating $10m to support the growing TON ecosystem. In addition, a total of 50 seed investments are scheduled over the next 12 months. Every investment is designed to accelerate the growth of TON and its projects.
Furthermore, DWF Labs intends to increase the number of TON ecosystem participants by improving the TONcoin volume across supporting platforms. Currently, TONcoin has a trading volume of up to $20 million. That number will double within the first three months of the partnership.
Afterward, DWF Labs will work towards increasing the volume further. To do so, a reliable OTC (over-the-counter) market will be developed to let buyers and sellers complete large transactions.
Partnering with DWF Labs is the latest milestone for the TON Foundation. Earlier, they achieved cooperation with Huobi Group and KuCoin Ventures. In addition, the TON ecosystem notes accelerating growth, with TON Sites and TON proxy being the latest additions. Those two features and tools are crucial to unlocking the future of a decentralised internet.
These releases follow the announcement of an update @wallet bot in Telegram from independent TON developers. It enables the creation of a P2P (peer-to-peer) cryptocurrency marketplace and is a step towards the widespread adoption of cryptocurrencies and blockchain technology by ordinary users.
Also Telegram recently launched a tokenised username marketplace built on the TON blockchain.
DWF Labs is a global leading digital asset market maker and multi-stage Web3 investment firm, providing support from token listing to market making to OTC trading solutions. DWF Labs seeks to invest and support bold founders who want to build the future of Web3.
DWF Labs is present in Singapore, Switzerland, South Korea, the BVI, and the UAE and trades almost 1,000 pairs with a daily volume that places DWF Labs among the top 5 ranking entities trading on the world’s top 40 exchanges.
The Open Network is a third-generation proof-of-stake blockchain initially designed in 2018 by the Durov brothers, the founders of Telegram Messenger. Later, it was handed over to the open TON community, which has been supporting and developing it ever since.
TON was designed for lightning-fast transactions. It’s ultra-cheap, user-friendly, and fully scalable. The TON Foundation is a non-commercial group of supporters and contributors who help further grow the TON blockchain.