Dubai, Dubai, June 26th, 2023, Chainwire
DWF Labs, a global Web3 investment firm, has partnered with the Algorand Foundation to support the growth and sustainability of the Algorand blockchain ecosystem. As part of the partnership, DWF Labs has agreed to a $50 million ALGO token purchase agreement to provide liquidity to the ecosystem. Additionally, an MOU has been signed to allocate funds for projects in the areas of DeFi, Art and Music, Gaming, Oracles and Bridges, and Infrastructure that are building on the Algorand blockchain. Interested projects can visit http://www.dwf-labs.com/algorand to submit their pitch to DWF Ventures.
Andrei Grachev, Managing Partner of DWF Labs, shared his enthusiasm for this partnership and its potential for revolutionising blockchain innovation, as well as DWF Labs’ commitment to actively participate in the building of the Algorand ecosystem.
“We selected Algorand because of its unparalleled level of technology and security among permissionless DLTs, as well as its leadership in environmental sustainability and social impact. Algorand's blockchain infrastructure provides the speed and instant finality required for creators, financial institutions and governments to smoothly transition to the new digital economy at scale, in an environmentally responsible manner. This partnership with the Algorand Foundation is another important step in the maturation and growth of innovation in this space,” said Grachev.
About the Algorand Foundation
The Algorand Foundation enables a dynamic, inclusive, and borderless global ecosystem on a large scale using Algorand blockchain technology. Developed by Silvio Micali, a Turing Award-winning cryptographer and MIT professor, Algorand is uniquely positioned to deliver on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near-zero transaction costs, and operates 24/7. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism provide both security and scalability on a decentralized protocol, without any downtime since its launch in 2019.
About DWF Labs
DWF Labs is a worldwide digital asset market maker and multi-stage web3 investment company. They offer a range of services from token listing to market making to OTC trading solutions. Their mission is to invest in and support innovative founders who are dedicated to building the future of Web3.
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