In light of recent changes, DWF Labs is pleased to announce that Lingling Jiang, our esteemed partner for Business Development, will be stepping up to lead the company’s strategic initiatives in this area. With a proven track record of driving growth and creating meaningful partnerships, Lingling will be taking over the roles and responsibilities necessary to support and expand our work with valued partners and collaborators. This transition is part of our ongoing commitment to fostering a resilient, forward-focused business environment that remains steadfast in supporting our portfolio companies.
Lingling brings a wealth of experience to her new role, positioning her as a key leader in DWF Labs’s Business Development and strategic initiatives. With over two years at DWF Labs as the Business Partner of Business Development and previously serving as Head of Regional Sales in Asia, Lingling has demonstrated her ability to drive cross-functional collaboration, optimise business operations, and build sustainable partnerships across the globe. Her tenure as Head of Hong Kong further solidified her expertise in regional and global market dynamics, fostering strong relationships within the business ecosystem.
This expanded role will include active participation in corporate decision-making, leading business development strategies, and representing DWF Labs at industry events worldwide. Her dedication to fostering impactful collaborations will strengthen our support for both new and existing partners, ensuring continuity and reinforcing our commitment to providing exceptional service.
“We are confident that Lingling’s expertise and leadership will play a crucial role in shaping our strategic direction,” said Andrei Grachev, Managing Partner of DWF Labs. “Her deep understanding of our industry and dedication to excellence make her the ideal leader to take our business development efforts to new heights.”
We look forward to the continued growth and success of DWF Labs under Lingling’s leadership in Business Development. We remain committed to our mission of driving innovation, creating value for our partners, and supporting the success of our portfolio companies.
At Blockchain Life Forum in October 2024, DWF Labs’s Managing Partner Andrei Grachev shared his perspective on key trends in Web3 during the panel ‘The Unicorn Journey: Insights from Top Venture Capitalists’. He spoke during the panel alongside Yat Siu (Co-Founder and Chairman of Animoca Brands), Danilo S. Carlucci (Founder and CEO of Morningstar Ventures), Edward Chen (Managing Partner of HTX Ventures) and Alex Scott (Head of Solana Superteam Middle East). The panel was moderated by Charis Campbell (Director of Capital Markets at Animoca Brands). Together, they represented the communiry of crypto venture capital companies.
This discussion highlighted the role of ecosystems such as TON in onboarding crypto users, the marketing power of memecoins, shifting trends in crypto gaming, and the stabilising influence of institutional investment.
The Power of Ecosystems in Connecting Web2 and Web3
During the panel, Grachev highlighted that TON’s ecosystem possesses a significant asset — an existing base of millions of users via its integration with Telegram. This unique advantage has been a crucial part of TON’s growth trajectory.
Gateway applications such as the Notcoin mini-app introduced crypto concepts to mainstream users through gamified experiences. Andrei shared that as TON’s ecosystem moves towards more complex and advanced DeFi projects, TON will be able to facilitate a new, larger wave of crypto adoption.
Memecoins as an Entry Point for Web3
Grachev discussed the importance of memecoins in onboarding users into the Web3 space, sharing that memecoins serve as marketing tools and function as catalysts for broader blockchain ecosystem growth. He explained that memecoins create a domino effect: they attract new users who generate trading volume and bring liquidity to the chain, which in turn creates a more active ecosystem.
This increased activity attracts a diverse range of projects beyond just memecoins, including DeFi protocols, Real World Assets (RWA), AI Agents, and more. This organic growth pattern demonstrates how memecoins can serve as catalysts for comprehensive blockchain ecosystem development and mainstream user adoption.
What’s Next in GameFi
During the discussion, Andrei Grachev discussed GameFi and Web3 gaming, sharing how the 2021 and 2022 initial wave of crypto projects primarily focused on financial systems rather than immersive gaming experiences. These early Play-to-Earn models, while innovative, were unsustainable in retaining user interest. However, they were valuable learning experiences for the crypto gaming industry.
Grachev then outlined several key gaming models that have potential for growth. He emphasised the importance of real revenue streams beyond token economics, such as in-app purchases and in-game items. A particularly interesting phenomenon he noted was the emergence of attention-based economics through in-game advertising, where users exchange their time and attention for tokens in-game.
Institutionalisation in the Future of Crypto
The panel participants also discussed institutionalisation in crypto, sharing that, as the market enters a new era of institutional engagement, highlighted by the introduction of crypto ETFs, launching a successful token project requires more than just creativity. Success will also require a strategic approach to institutional backing from a recognised crypto venture capital fund.
Andrei Grachev also shared that significant institutional money from family offices and institutional funds is flowing into the industry. These institutions are capitalising on funding rates, arbitrage opportunities, and farming strategies that offer low-risk and stable returns.
What’s Next
In conclusion, takeaways from the panel ‘The Unicorn Journey: Insights from Top Venture Capitalists’ at Blockchain Life in April 2024 highlight key trends in the crypto space, such as connecting Web2 and Web3 users, the strategic role of memecoins, the evolving structures within crypto gaming, and the importance of institutionalisation.
As institutionalisation in crypto becomes increasingly prominent, we’re focused on advancing the Web3 ecosystem through our institutional partners such as the DMCC Crypto Centre, The Blockchain Centre Abu Dhabi, and the UCLA Blockchain Faculty. DWF Labs aims to further expand access to blockchain technologies and support wider adoption across Web3.
This award marks our dedication to supporting and advancing the crypto market
DWF Labs, a prominent crypto market maker and venture capital firm, is pleased to announce the launch of the crypto options trading platform. This development marks a significant advancement in the range of financial instruments available to traders and reflects our commitment to providing comprehensive and sophisticated trading solutions in the rapidly evolving digital asset marketplace.
The introduction of crypto options trading arrives at a time when the demand for advanced risk management tools and flexible trading strategies is growing within the digital asset community. Options trading allows traders to hedge positions, speculate on market movements, and gain more nuanced control over their portfolios—capabilities that are essential in the dynamic Web3 landscape.
Andrei Grachev, Managing Partner at DWF Labs, commented on the launch:
‘The decision to offer options to the market participants is a natural progression in our mission to support the crypto industry. We aim to make options simple and easily available for crypto players, from degens to institutions.’
In addition to standard crypto options contracts, DWF Labs is offering bespoke options products tailored to the specific needs of their clients through their Options Concierges. This customised approach underscores the firm's dedication to providing not just broad market access but also tailored solutions to address the unique challenges and opportunities within the Web3 space.
As a key crypto market maker, DWF Labs plays a crucial role in providing liquidity and stability to the digital asset markets they serve. The introduction of options trading is expected to contribute positively to market depth and resilience, offering participants more tools to manage risk and enhance their trading strategies. This development is also seen as a step towards attracting a broader range of participants, including those who require more sophisticated instruments to operate effectively in the digital asset markets.
With this latest advancement, DWF Labs continues to solidify their position as a leader in the digital finance sector, providing innovative solutions that support the growth and evolution of the Web3 ecosystem. The firm remains committed to expanding their offerings in line with market needs and technological advancements, ensuring that their platform remains at the forefront of the digital asset trading industry.
Alessia Baumgartner, VP of Ecosystems at DWF Labs, participated in the panel ‘How to Survive and Thrive as a Web3 Company’ held during Algorand Royale TOKEN2049, hosted by the Algorand Foundation. She joined the discussion alongside Marc Bernier (Founder and CEO of DaffiOne), Benedetto Biondi (Co-Founder and CEO of Folks Finance), and Michael Cotton (Founder and CEO of Meld Gold).
Check out some of Alessia’s tips for Web3 projects to implement in order to stand out in the Web3 and crypto space.
Strategic Utility and Token Design
Alessia Baumgartner shared that projects should think strategically about utility and whether they need a token. She advised founders to focus on adding as much token utility as possible to their blockchain projects. By integrating the token into core functionalities — such as decentralised community governance, rewards, or access to the project’s services — projects create intrinsic value for the crypto asset, driving user adoption and demand. This approach not only strengthens the project’s value proposition but also aligns with long-term sustainability.
Mindshare vs. Profitability: A Stage-Based Approach
Whether to focus on increasing profitability or acquiring mindshare depends on the project’s stage of development. Baumgartner highlighted that early-stage crypto projects (pre-seed, seed round, or pre-TGE) should prioritize increasing mindshare. This lays the foundation for future growth and helps establish a strong position in the competitive Web3 landscape.
Increasing Market Share Through Research
To increase market share, Baumgartner recommended conducting thorough research. Founders should analyse competitors’ partnerships, the blockchains they are building on, and their overall narratives and strategies. This understanding allows projects to identify gaps, differentiate themselves, and capitalize on untapped opportunities.
Shifting Focus to Profitability in Later Stages
For later-stage projects (post-TGE), Baumgartner shared that the focus could shift towards profitability. She noted that goals and strategies must evolve as the project matures. By prioritizing profitability, projects can ensure sustainable growth and create lasting value for stakeholders.
How Founders Can Build Lasting Projects
Alessia Baumgartner’s insights provided a clear framework for founders navigating the Web3 space. By strategically designing utility, focusing on market share in early stages, and transitioning to profitability as the project matures, founders can build resilient and impactful companies.
The panel emphasised the importance of adaptability, strategic planning, and a deep understanding of the competitive landscape for survival and success in Web3.
DWF Labs’s Managing Partner, Andrei Grachev, took the main stage at TOKEN2049 in Singapore on 18th September 2024. He shared about the current state of the crypto market, offering a nuanced perspective on its evolution, the rise of community-driven tokens, and the dynamics shaping its future. Here are the key highlights from his talk.
Three Major Changes in the Crypto Market
1. Shift from BTC-Centric Trends
The cryptocurrency market has grown increasingly complex, with altcoins no longer mirroring Bitcoin’s price movements. Community-driven tokens have emerged as outperformers compared to tokens backed by crypto venture capital. Grachev explained that this divergence signifies a maturing market that demands more nuanced research and strategic investment.
2. Community-Driven Tokens Leading Innovation
Tokens rooted in cultural values and community support have begun outperforming their counterparts. These tokens symbolize an exciting opportunity to tokenise cultural beliefs and foster strong community engagement. Projects with robust community backing, like memecoins, have sustained relevance due to their ability to connect with users on an emotional and cultural level.
3. Dominance of Asian Exchanges and TON Blockchain
Asian crypto exchanges continue to dominate the trading landscape, with the TON blockchain gaining prominence through memecoins and games in the form of mini apps. Grachev highlighted how the meme vertical remains a significant market driver, blending culture and commerce to attract diverse participants.
Market Evolution: What’s Driving Change?
DWF Labs’s Managing Partner attributed the evolving market landscape to global macroeconomic factors and a natural learning curve within the crypto sector:
- Historical Cycles. The methods that worked in previous cycles no longer deliver the same results. For instance, projects backed by crypto venture capital firms that once dominated the market have struggled to find a product-market fit in today’s environment.
- Decentralised Culture. The community’s influence has grown significantly. Grachev pointed to the increasing popularity of meme coins and prediction markets, which are reshaping how participants engage with and perceive cryptocurrencies.
- Mature Trading Strategies. As crypto trading mimics traditional markets, success now requires deeper research, greater expertise, and the willingness to take calculated risks.
How to Succeed in the Changing Landscape
According to Andrei Grachev, there are at least 3 strategies that Web3 projects may follow to nurture results on the crypto market in the next year:
- Embrace New Narratives. The market’s transition phase provides opportunities to replace outdated strategies. Innovators who adapt to current trends stand to thrive.
- Understand Community Dynamics. Crypto projects driven by cultural resonance and active communities have a better chance of success. Tokens like Dogecoin and Shiba Inu exemplify the power of community-driven markets.
- Prepare for Perpetual Markets. Grachev predicts a shift towards crypto perpetual futures markets, where users can amplify potential returns through leverage. However, this trend also increases risk, requiring careful navigation.
Looking Ahead: Three Market Directions
Grachev identified three distinct directions for the future of cryptocurrency:
- Institutional and Regulated Markets. The crypto market will see the integration of real-world assets (RWAs) and central bank digital currencies (CBDCs). This will come with greater regulatory oversight to ensure transparency and compliance, paving the way for mainstream adoption.
- Utility Tokens. Continued innovation in protocols and smart contracts will drive this segment. Web3 startups should focus on project quality, team expertise, and the ability to adapt to new crypto market trends.
- Community-Driven Tokens. A big segment of the market, mainly represented by memecoins, will continue thriving on cultural and community engagement. Despite regulatory challenges, this segment represents the essence of crypto’s grassroots appeal.
Morning Stars of the Crypto Market
Andrei Grachev concluded his speech with a reflection on the emergence of new leaders and technologies within the market.
According to DWF Labs’s Managing Partner, Binance will remain the dominant exchange, accounting for 50% of the market, although other players like Bybit, Gate.io, and OKX show strong performance, as well.
Next, community tokens will keep outperforming VC-backed crypto assets, underscoring the power of collective ownership and cultural resonance.
Finally, with its innovative consumer-focused applications, the TON blockchain will further exemplify how new ecosystems embrace user engagement and adoption.
Final Thoughts
Grachev’s keynote underscored the importance of adapting to change in the crypto market. He urged participants to approach investments with critical thinking and thorough research, reminding them that the fast-paced nature of crypto requires agility and foresight. As the market matures, those who embrace innovation and understand the evolving landscape will be best positioned for success.
At TOKEN2049 Dubai Singapore, Andrei Grachev, Managing Partner of DWF Labs, spoke during the panel ‘Memecoins: Fleeting Trend or Crypto Evolution?’. He shared his insights alongside Sandra Leow (Research Partner at Kaito AI), Murad Mahmudov, Ansem (Founder and Investor at Bullpen), and Mike Dudas (Managing Partner at 6th Man Ventures).
Panellists discussed the rise, risks, and future of memecoins in the crypto ecosystem. Keep reading for a recap of their insightful discussion.
The Rise of Meme Coins: From Dogecoin to Dominance
Memecoins have been a part of the crypto landscape since its early days, with Dogecoin standing as the most notable example. Over time, the concept of tokenising internet culture has evolved, leveraging viral trends from social media platforms. This shift reflects a broader trend where tokens are valued more for their community and culture than their technological utility.
Andrei Grachev highlighted the explosive growth of memecoins, noting that while 2017 saw only one major memecoin (Dogecoin), 2021 brought thousands of dog-themed tokens, with four exceeding $5 billion market caps. By 2024, millions of memecoins have been launched.
Why Memecoins Succeed: Speed, Community, and Virality
Grachev emphasised that memecoins offer a unique advantage for crypto investors: instant feedback. Unlike utility tokens, which require lengthy development timelines, memecoins provide immediate results. He shared that ‘You invest, you see your result—you have money or you don’t have money.’ This immediacy makes memecoins an attractive option for traders seeking quick returns.
However, Grachev also cautioned that meme coins are not without risks. While a few succeed, millions fail, leading to substantial losses. To mitigate these risks, Grachev stressed the importance of a strong narrative for the memecoin and structuring memecoins as a proper business by involving influencers and community. Viral distribution and strong community engagement are essential for a memecoin to thrive.
Memecoins as a Gateway to Crypto Adoption
One of the most compelling aspects of memecoins is their ability to drive blockchain adoption. Grachev explained that memecoins are a crucial user acquisition tool, contributing to the broader crypto ecosystem by onboarding new users. He shared that ‘People want something to play with, something to gamble, something for entertainment. Memecoins are the easiest way to attract these people’.
The Future of Meme Coins: Gamification and Evolution
Looking ahead, Grachev and other panellists discussed the gamification of memecoins, with platforms like Pump.Fun allowing users to create tokens instantly. This innovation has revolutionised how memecoins are launched and marketed. Additionally, panellists discussed hybrid models combining NFTs and fractionalised memecoins emerging as a major trend.
Grachev concluded by acknowledging the speculative and volatile nature of memecoins but also their undeniable impact on the crypto market. While they carry significant risks, their ability to attract attention and drive adoption makes them a vital part of the Web3 ecosystem. As memecoins continue to evolve, they will likely remain a key player in shaping the future of blockchain technology. To support promising projects in this space, DWF Labs launched the Meme Fund.
It's been a month since the launch of DWF Labs's Cloudbreak Fund, in which we’ve pledged $20M USD to support promising Web3 projects within Chinese-speaking regions. With over 90 project submissions in just the past four weeks, the fund is well on its way to fostering innovation and providing crucial market-making (MM) support to Chinese-speaking founders and projects seeking support with their liquidity and ecosystem growth.
As the new generation Web3 investor and market maker, we provide financial backing to our stellar portfolio of over 700+ projects, including 20% of the top 100 projects ranked on CoinMarketCap, and 44% of the top 1000 projects ranked by the same. Our work with Web3 projects and founders in these regions extends beyond financial backing and market-making. We understand that sustainable growth for projects requires personalised and comprehensive support. This is why we have a dedicated team providing 24/7 support. This has enabled DWF Labs to grow rapidly, granting us the title of Bybit’s Top Liquidity Provider in 2023; amongst other accolades.
DWF Labs has long been a supporter of projects from Chinese-speaking regions, with some examples being Mask Network and Yuliverse; to name a few. Besides substantial investments in Mask Network, which went towards bolstering its ecosystem and market presence, we’ve also helped to further its scalability and reach by facilitating the integration of its social protocols on TON. Additionally, our partnership with Yuliverse, a gaming social metaverse platform, also helped expand its capabilities and influence through introductions within our vast network and dedicated portfolio support.
The Cloudbreak Fund was established to further provide liquidity and support to burgeoning Chinese-speaking projects in the Web3 space. The initial response has been overwhelmingly positive, with Andrei Grachev, Managing Partner at DWF Labs, expressing gratitude for the community's engagement.
'We are grateful for the community's support. The proactive engagement from so many projects reassures us that we are on the right path to build and grow together. Over the past weeks, we have focused on enhancing our services with a broader range of offerings, especially in market-making deals, striving to add value and establish long-term partnerships with our projects,' said Grachev.
The Cloudbreak Fund will nurture groundbreaking initiatives in the realms of GameFi, SocialFi, Memecoins, DeFi, AI, and Layer 1/Layer 2 infrastructure projects. This provides outstanding projects the resources needed to realise their fullest potential.
Chinese-speaking projects operating within the above categories are invited to apply to the Cloudbreak Fund and take advantage of the opportunity to accelerate their growth and gain a foothold in the Web3 ecosystem.
We are committed to fostering innovation and growth in the Web3 space, and look forward to building with you in your growth journey.
Apply for the Cloudbreak Fund here: https://www.dwf-labs.com/cloudbreak
DWF Labs在2024年7月4日正式推出Cloudbreak 2000万美元的加密原生基金，该基金专注于支持华语地区的顶尖Web3项目，覆盖了GameFi、SocialFi、Memes、DeFi、L1/L2 基础设施以及 AI等关键领域。短短四周内，此项基金吸引了大量项目方的关注，并收到了高达90多个项目的申请，充分彰显了DWF Labs致力于推动华语区项目的创新增长和生态发展的决心和影响力。
DWF Labs管理合伙人Andrei Grachev对此成果表示了衷心感谢，他表示：“我非常感谢社区的大力支持。有如此多项目的参与，让我们更坚信DWF Labs 走在一条正确的道路上，与社区共同成长和创新。过去几周内，我们也加大了服务项目范围的拓展，尤其是造市方面，已经推出了更有竞争力合作方案， 侧重于推进项目的快速成长。”
作为全球领先的Web3投资者和造市商，DWF Labs不仅在2023年荣膺Bybit最佳流动性提供商称号，还成功与 20% CMC排名前100的项目，以及44%排名前1000的项目达成合作。 其成功之道不仅限于作为造市商为市场提供流动性和有效性，更在于其关注为项目提供个性化和全方位的运营战略支持。 DWF Labs 拥有全时区不停休的专业团队，在有效满足流动性核心需求的同时，也为项目提供了投资、生态伙伴关系等全球化资源，助力其在全球范围内蓬勃发展。
DWF Labs 与华语区域的项目有着一贯的紧密合作和成功案例。例如 Mask Network，在为项目注入大量资金支持的同时还帮助其筹划了生态发展方案，促进其在 TON 上的集成社交协议;另外在与游戏社交元宇宙平台 Yuliverse 的合作中，更是体现了DWF Labs的增值服务，为其提供生态伙伴和全球资源网络，从而提升项目的知名度和影响力。
在接下来的一个月内，Cloudbreak基金诚心邀请所有阶段快速发展的优质华语区项目方的积极参与进来，期待我们在您成长的旅程中与您一起携手共建。
请点击这里: https://www.dwf-labs.com/cloudbreak