DWF Labs invests $10 million in the TON ecosystem to accelerate growth and support TON-based projects

With the collapse of FTX’s sister company Alameda Research, a vacuum has been created for other players to make some rather bullish actions. Now one of the leading blockchain industry market makers, DWF Labs has thrown its support for the TON ecosystem.

Through its partnership with the TON Foundation, DWF Labs announced today it has invested $10M in the TON ecosystem to accelerate growth and support TON-based projects, including token development, market creation, and exchange listing.

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 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 TON Sites and TON proxy being the latest additions. Those two features and tools are crucial to unlocking the future of a decentralized internet.

These releases follow the announcement of an updated @wallet bot in Telegram from independent TON 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.

Also, Telegram recently launched a tokenized 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 in 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 pairs with a daily volume that places DWF Labs among the top 5 ranking entities trading on the world’s top 40 exchanges.