DWF Labs, the leading crypto market maker, has become a prominent backer of the TON ecosystem. Through its partnership with the TON Foundation, DWF Labs now supports The Open Network with an investment, token development, market creation, and exchange listing.
DWF Labs commits to allocating $10 million 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 (TON) trading volume across supporting platforms. Currently, Toncoin has a trading volume of up to $20 million. That number is about to 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 market will be developed to let buyers and sellers complete large transactions.
DWF Labs and TON will embark on a long-term partnership featuring extensive cooperation between TON and DWF Labs.
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 the web3 sites launchpad TON Sites, and the proxy network 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 updated built-in crypto wallet in the Telegram messenger from independent developers. It enables the creation of a P2P cryptocurrency marketplace, and is a step towards the widespread adoption of cryptocurrencies and blockchain technology by ordinary users. Telegram also recently launched a tokenized username marketplace called Fragment built on the TON blockchain.
About DWF Labs
DWF Labs is a global crypto market maker and multi-stage web3 investment firm, providing support to blockchain projects, from listing to market making and crypto 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 2,000 crypto pairs with a daily volume that places DWF Labs among the top 5 ranking entities trading on the world’s top 40 exchanges.
About The Open Network (TON)
The Open Network is a third-generation proof-of-stake blockchain initially designed in 2018 by the Durov brothers, the founders of Telegram. 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.
