EOS Network lands $60M investment and partnership from DWF Labs
In its most substantial investment to date, DWF Labs, a digital asset market maker and investment firm, has announced an alliance with the EOS Network Foundation (ENF), entailing an investment deal worth over $60 million. EOS is a Layer-1 network for developers looking to build blockchain-based games (GameFi) and deploy decentralized applications (dApps).
DWF is bolstering the EOS Network by means of a $45 million EOS token purchase agreement and a $15 million pledge to invest in businesses and projects based on EOS. This pledge is aimed at expediting the expansion and acceptance of the EOS Network.
The ENF plays a pivotal role in the EOS network’s development by coordinating support, creating feedback loops for innovation, promoting community involvement, allocating funding and facilitating the growth of the EOS ecosystem.
The timing of this collaboration is advantageous, as the EOS Network is set to unveil its enterprise-grade EOS Ethereum Virtual Machine (EVM) on April 14, featuring that surpasses Polygon, BSC and Avalanche, with over four times more swaps per second.
The synergy between DWF Labs and the EOS project is set to unlock potential in the blockchain ecosystem and the world of web3. The partnership will bring together their respective expertise and resources, ensuring a future for the EOS Network.
Related: Synthetix nets $20M from Web3 quant trading firm
DWF Labs has emerged as an investor during the crypto bear market. Recent investments have included a $20 million fundraise for derivatives trading platform Synthetix and a $40 million raise for AI-focused crypto protocol Fetch.ai.
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