Web3 Investment Firm DWF Funded $10M to Expand TON Ecosystem

Web3 Investment Firm DWF Funded $10M to Expand TON Ecosystem
  • TON foundation and DWF partnership would increase the circulation of TONcoin.
  • DWF Labs pledges to aid $10 million to expand the TON ecosystem.

Recently, The Open Network “TON foundation” announced an update to their @wallet bot on Telegram. Following that, Global leading digital assets market maker and web3 investment firm DWF labs joined hands with the TON foundation. This collaboration would help DWF to enable support to The Open Network’s investment, token development, market creation, and exchange listing. 

Also, DWF Labs pledges to aid $10 million to expand the TON ecosystem. Throughout the upcoming 12 months DWF planned 50 seed investments that are intended to enhance TON’s and its projects’ growth. 

DWF to Wider TON Circulation

Earlier this year, Telegram unveiled a marketplace for tokenized usernames which is based on the TON blockchain. It would help make more possible ways to build a peer-to-peer crypto industry and moves customers closer to adopting cryptocurrencies and blockchain technology on a large scale.

Although, DWF Labs aims to increase the circulation of TONcoin across various platforms to lure more participants to the TON ecosystem. Currently, the TONcoin has a trading volume is up to $20 million. Also, during the initial three months of the partnership, DWF plans to double the TON coin volume. To accomplish this a reliable over-the-counter (OTC) market DWF would enable massive transactions between buyers and sellers. However, TON and DWF Labs will intend a long-term collaboration. 

Further, previously, the OTC market worked with KuCoin Ventures and Huobi Group. TON ecosystem, TON Sites, and TON gateway also indicate rapid expansion with the most recent partnership with DWF.

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