Global digital asset market developer and multi-stage Web3 investment firm DWF Labs has joined The Open Network’s (TON) Accelerator Programme, the company stated. As a result, DWF Labs will support the TON ecosystem by providing investment tickets and other ecosystem services, each worth between $50,000 and $250,000.
The TON Accelerator Program and what it offers
Now that DWF Labs is part of the TON Accelerator Programme, which will invest up to $25 million in initiatives this year that will have a significant influence on the expanding TON ecosystem, they will play a role in things like tokenomics, market making, and liquidity. The first group of projects to be considered for funding will be those that were developed at Hack-a-TONx DoraHacks, a two-month long virtual hackathon put on in conjunction with DoraHacks.
The TONcoin Fund is a $250 million ecosystem fund created specifically to back TON-based startup founders and accelerator partners. Tonstarter, the primary fundraising platform on TON, TEB, a South Korean incubator for Web3 developers, and Cypher Capital, a United Arab Emirates-based multi-strategy crypto investment firm, are among its backers. Gotbit, a hedge fund and Market-Making company that offers trading and risk management solutions is also a contributor.
The submission period is currently open, and projects must be able to implement the TON and TVM smart-contract languages if they want to be considered. In addition, initiatives should be ready with their minimum viable product (MVP) and have a need for marketing, business, and technology expertise. Teams developing proofs of concept or prototypes that necessitate extensive technical support are encouraged to submit proposals for early-stage grants.