Famous investment company DWF Labs continues to invest in altcoins. Investments are closely followed by the cryptocurrency world. As Cryptokoin.com, as we have stated before, every investment is important for the development of projects. On the other hand, as the projects develop, the sector begins to grow. Let’s see which cryptocurrencies the money has flowed.
High numbers flowed to Altcoin Algo
DWF Labs, one of the leading players in the blockchain industry, announced a significant partnership. Accordingly, there is a groundbreaking partnership with the Algorand Foundation. As part of this collaboration, DWF Labs will support liquidity in the Algorand ecosystem. Accordingly, the altcoin made a significant investment of $ 50 million in ALGO tokens.
To encourage growth and innovation, both organizations signed a memorandum of understanding (MoU). This agreement outlines the allocation of funds to support projects spanning various industries such as decentralized finance (DeFi), arts and music, gaming, oracle and cross-chain bridges and infrastructure. DWF Labs and the Algorand Foundation are facilitating the development of these initiatives on the altcoin Algorand platform. Accordingly, they aim to strengthen the blockchain ecosystem. They also aim to ensure its widespread adoption.
Investing in Velo Labs
Velo Labs, the leading force behind the Web3 financial infrastructure, made headlines on June 26 by successfully completing a $10 million funding round. Funding was provided by digital asset market makers and investment firm DWF Labs.
Velo Labs aims to establish a harmonious financial ecosystem by leveraging blockchain technology. It also ultimately focuses on ensuring the seamless integration of global economic activity with blockchain. On the other hand, it operates with the vision of promoting the reliable, unrestricted and unrestricted movement of assets worldwide.
Another investment in Waves
Sasha Ivanov, founder of altcoin project Waves, announced that DWF Labs has pledged support for the launch of WavesDAO by staking and voting for 500,000 altcoin WAVES tokens. Located on the Power Protocol platform, WavesDAO serves as a non-profit, decentralized autonomous organization designed to support project development and other initiatives on the Waves blockchain.
In the first phase, WavesDAO aims to allocate one-third of the altcoin Waves mining rewards to further its mission. In order for this proposal to be implemented, altcoin Waves miners and stakeholders must approve via on-chain voting. DWF Labs’ participation in the program will enable developers to build on the Waves blockchain once the proposal is approved. This will remain an important stage for the altcoin.
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