On Tuesday, a renowned web 3.0 investment company, DWF labs resolved to invest in Orbs, a notably crypto infrastructure provider. In a Twitter post, Orbs confirmed that the investment will enable DWF labs to join its ecosystem, thereby committing $10 million in the purchase of its tokens.
Worthy of note that the crypto infrastructure firm highlighted the terms of the investment. According to its announcement, the investment will be done in tranches, with the first tranche already settled. As for the remaining tranches, the investment will be made over time, Orbs added.
Meanwhile, the CEO of Orbs, Nadav Shemesh welcomed the investment from DWF. According to Shemesh, the decision by the web3 investment firm to join Orbs ecosystem is a step forward in the latter’s commitment to expanding its offerings. The CEO added that the investment passes a vote of confidence in Orbs layer 3 technology and its potential to enhance the evolving Web3 sphere.
Orbs to sustain the development of its infrastructure with DWF’s investment – CEO
Notably, Shemesh highlighted how the crypto infrastructure firm will utilize the funds derived from the investment. As revealed by the CEO, Orbs will first channel the funds towards sustaining the development of its infrastructure. By so doing, the protocol seeks to grow the adoption of Ethereum Virtual Machine (EVM) chains and on The Open Network (TON).
In his remark, the managing partner of DWF, Andrei Grachev, described Orbs as a promising project within the TON ecosystem. Grachev explained that DWF labs shares the same vision with the crypto infrastructure provider, thereby prompting its decision to invest in its ecosystem. He said that Orbs has continued to contribute massively to the development of TON ecosystem, thereby demonstrating its commitment to facilitating the growth of the industry. The exec believes the investment will assist Orbs in actualizing its drive for the future of decentralized finance.
Certainly, Orbs has, in recent times, continued to develop products capable of fostering the TON network and driving the growth of DeFi. Just recently, the crypto infrastructure firm launched its flagship L3 product, identified decentralized time-weighted average price (dTWAP) for DEXs. Meanwhile, as part of its contribution to TON ecosystem, it developed TON.vote, a no-code DAO tool. Worthy of note that this product serves as a governance tool for all TON decentralized applications. More so, Orbs is the brain behind TON Access, a decentralized Infura specifically designed for the TON ecosystem.
DWF labs wants to keep supporting projects running on TON
DWF labs, on the other hand, has also shown appreciable commitments to enhancing DeFi and Web3 projects. Aside Orbs, it has invested in scores of projects with great potentials. Worthy of note that this investment firm is a great supporter of the TON ecosystem. This thus justifies its resolve to supporting every project building on the network.