Orbs Network Receives $10 Million Token Sale Investment From DWF Labs

Key Points:

• In a token sale, DWF Labs invested $10 million in blockchain infrastructure provider Orbs Network.
• Orbs and DWF are both significantly engaged in the TON ecosystem, which the Telegram Messenger creators created.

DWF Labs, a market maker and investment company, has made a token sale investment in blockchain infrastructure provider Orbs Network.

DWF Labs said Tuesday that it would acquire Orbs coins valued up to $10 million.

Orbs, a blockchain network founded in Israel in 2017, provides a different execution layer between Layer 1/ Layer 2 solutions and the application layer as part of a tiered blockchain stack, boosting the possibilities of smart contracts.

The platform is intended for mass-use apps that may encounter high fees and sluggish throughput, and it may function as the back-end for a complete blockchain technology stack. In early 2019, the mainnet and ORBS coins were released.

Orbs is an open, decentralized, and public blockchain architecture that is powered by a secure network of permissionless validators that use Proof-of-Stake (PoS) consensus.

The network functions as a layer 3 Decentralized Backend, improving the capabilities of EVM and non-EVM smart contracts and opening up a whole new range of possibilities for Web 3.0, DeFi, NFTs, and GameFi.

Its main layer 3 product, a decentralized time-weighted average pricing (dTWAP) protocol for decentralized exchanges, was just released. Orbs and DWF are both significantly engaged in the TON ecosystem, which the Telegram Messenger creators created. Andrei Grachev, the Managing Partner of DWF Labs, said:

“Orbs is a highly promising project within the TON ecosystem, and we are pleased to invest in their vision for the future of decentralized finance. Their dTWAP protocol for decentralized exchanges and their contributions to the TON ecosystem demonstrate their commitment to advancing the potential for growth and innovation in the space.”

The Telegram team was the first to introduce TON. Since 2020, it has been functioning as an open-source community project.

DWF Labs has announced a partnership with the TON Foundation and a $10 million commitment to the TON ecosystem. DWF also said that it would invest in 50 seed-stage firms over the next 12 months in order to expand the ecosystem.

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