DWF Labs, one of the leading market makers in the blockchain industry, has pledged $10 million to help the TON ecosystem expand. The company has also secured 50 seed investments to be made over the course of the next year. DWF Labs also hopes to boost TONcoin’s volume on TON ecosystem support platforms, which should lead to an increase in the ecosystem’s overall user base.
What does the future hold for DWF Labs and Ton?
DWF Labs is an industry-leading multi-stage web3 investment and digital asset market developer. It supports blockchain firms with anything from listing tokens on exchanges to helping set up OTC trading. It operates in Singapore, Switzerland, South Korea, the British Virgin Islands, and the United Arab Emirates, and it facilitates the trading of about 1000 different asset pairs.
On the other hand, the Open Network (TON) was created in 2018 by the Durov brothers, creators of Telegram Messenger. It is a 3rd generation proof-of-stake blockchain. The blockchain is currently governed by the TON Community.
There will be an extensive collaboration between DWF Labs and TON as part of their long-term engagement. TONcoin has a potential $20 million trading volume right now. The cooperation will result in doubling that number within the first three months. After that, DWF Labs will continue its efforts to boost the volume. In order to accomplish this, the two companies will establish a trustworthy OTC market so that buyers and sellers can conduct large-scale transactions with one another.
This collaboration with DWF Labs represents a major new step forward for the TON Foundation. The company has already signed agreements to work together with Huobi Group and KuCoin Ventures. In addition, TON Sites and TON proxies are two of the most recent additions to the rapidly expanding TON ecosystem. The future of a decentralized internet depends on those two qualities and tools.
Telegram has also just released a tokenized username marketplace developed on the TON blockchain. This followed an earlier development where independent TON developers released a Telegram update for the @wallet bot. This move paves the way for a decentralized cryptocurrency exchange. Also, it’s a big deal for the mainstream acceptance of blockchain technology and digital currencies.