Popular virtual asset market maker, DWF Labs has provided additional financial aid for Floki Inu. DWF Labs, which also doubles as a web3 firm, spent $1.2 million to acquire FLOKI tokens from the project’s treasury. According to a blog post released today, the funds will support the advancement of the Floki ecosystem.
The web3 firm added that the move emanated as part of its preparation for “the most explosive bull run crypto has ever experienced.” In the blog post, DWF Labs established its faith in the future of the project to become a prominent force in the web3 landscape. In return, the support of the web3 investment company will place Floki on the path of becoming a “dominant crypto project.”
Recall that the report about the synergy between the market maker and Floki first surfaced in May 2023. Then, the web3 investment firm purchased $5 million worth of FLOKI coins. Subsequently, the company has contributed massively to fast-track the global adoption of FLOKI. As revealed, DWF Labs has contributed to the advancement of the Floki ecosystem by implementing key projects and publicly supporting the progress of the project.
On the flip side, Floki stated that it has enjoyed a mutually beneficial relationship with DWF Labs. The firm added that it has selected the web3 investment company as the exclusive market maker for its new project, TokenFi. Additionally, the firm disclosed that the market maker will help aid the swift adoption of Floki and TokenFi.
Also, Floki disclosed that it will leverage the support of DWF Labs to establish itself as the most used and adopted cryptocurrency. In the announcement, Floki said its token enjoys the patronage of more than 460,000. According to Coinmarketcap, Floki as of press time is worth $0.00004265.
Side notes about DWF Labs
It is worth mentioning that DWF Labs has emerged as a market leader in the web3 landscape. In recent times, the web3 investment firm has provided financial support for various projects. Recently, Binbits reported that Crust Network, a decentralized storage system, secured a strategic investment from DWF Labs.
Per the report, the market maker made the investment in Crust Network to support the host of exciting projects on the network. Further, Binbits went on to describe the strategic investment as a long-term commitment that will see the marker maker push for the advancement of the Crust Network ecosystem.
Similarly, DWF Labs in April 2023 announced that it invested in a decentralized secure computation platform identified as ARPA. As indicated, the funds provided support for the project to advance its blockchain privacy initiative. Since the start of the year, the web3 investment firm has contributed to the growth of leading projects like Synthetix, TOPGOAL, Orbs, Algorand, and Conflux.