Who is DWF Labs who frequently shoots? "VC+Market Maker", 5 projects are scheduled to be invested every month

Written by: 0x22D, Cookie, BlockBeats  

Recently, an institution called DWF Labs has frequently thrown large sums of investment, attracting market attention. In fact, they are not crypto newcomers, but have already entered the market, but only recently began to invest in high-profile projects.

DWF Labs positions itself as "Global encrypted asset market maker and multi-stage Web3 investment company", a subsidiary of Digital Wave Finance (DWF), has offices in Singapore, Switzerland, British Virgin Islands, UAE, South Korea and Hong Kong, China. DWF is a global cryptocurrency high-frequency trading company. Since 2018, it has conducted spot and derivatives transactions on more than 40 top trading platforms, ranking among the top 5 global cryptocurrency trading volumes.

Andrei Grachev, managing partner of DWF Labs, said in an interview that the current turbulent market is the best time to enter the investment field, and they have benefited from profits Sufficient funds have been accumulated to invest in the project. In most cases, DWF Labs invests in projects by purchasing tokens directly. It currently has 104 projects in its portfolio, covering almost all verticals of Web3.

At least invest in 5 projects per month, DWF Labs investment philosophy

DWF Labs stated on its official website, “Regardless of market conditions, DWF Labs invests an average of 5 project", as a company whose main business is market making and high-frequency trading, how did they choose so many projects?

There are more than 100 items with comparable High diversity, from blockchain infrastructure, DeFi, NFT, chain games to DAO, decentralized social networking, data analysis, privacy, entertainment, it is difficult to find a very large investment focus. This is not just an implementation of diversification investment thinking, for DWF Labs, portfolio diversification is also a way to get involved in all verticals, maintain a leading position and adapt to the needs of the market.

In the introduction of the official website, DWF Labs stated that it is seeking investment and support for bold founders who want to build the future of Web3, and can provide consulting, liquidity provision, network Help with security, smart contract audits, debt financing, treasury management, and can connect with its many partners in different verticals.

Before confirming an investment, DWF Labs will First carry out the basic information about the project Fact-finding, followed by more in-depth due diligence by analysts, and finally a predictive algorithm designed by them to calculate the project’s chances of success, combining the results with the opinions gathered in previous steps.

DWF Labs is committed to guiding the Project cooperation triggers new chemical reactions. For example, Orbs Protocol has launched a large-scale cooperation with TON in 2022 and developed multiple Layer3 Apps for TON, such as TON-Access, TON Minter and TON Verifier. This year, Orbs Protocol became the main sponsor of two TON hackathons.

Team Background

Andrei Gr, Managing Partner, DWF Labs achev worked in the "Russian Jingdong" in his early years Ulmart, a well-known e-commerce platform, joined the encryption market in 2017 and established an organization called Crypsis Blockchain Holding in Moscow. In May 2018, he joined the Russian Association of Encryption Economics, Artificial Intelligence and Blockchain (RACIB) as a trading vice president. Director, served as CEO of Huobi Russia in September 2018, and joined DWF Labs in December of the same year.

Andrei Grachev said in an interview that the encryption market can be divided into the US market and markets outside the US, and they mainly focus on the Asian market. Many Asian faces can also be seen.

Partner Heng Yu Lee used to work at JP Morgan Chase. Backed by intelligence, infosec and defense industry veterans, joining DWF Labs in May 2022.

Partner Zac Zou used to work in China Harbor Engineering Co., Ltd., and joined OKEx in August 2018 as a regional business manager, focusing on Vietnam, India, and Russia markets. Joining DWF Labs in June 2022.

DWF Labs Important Investment List

Fetch.ai

On March 29, 2023, Fetch.ai announced the acquisition of A $40 million investment from DWF Labs to support the development and deployment of autonomous agents, network infrastructure, and decentralized machine learning on the Fetch.ai platform.

Fetch.ai was established in 2017 and is a public chain focusing on AI applications. In 2019, Fetch.ai’s Token $FET was listed on Binance Launchpad, selling about 69.2 million $FETs in 22 seconds, raising about $6 million.

Applications within the Fetch.ai ecosystem include CoLearn, a data and AI model market, Axim, an enterprise-level privacy-preserving AI data analysis application, and DeFi, which introduces real-world collateral Protocol Atomix, low-carbon travel to Earn application Mobix, automotive industry data sharing network Catena-X, decentralized social network Resonate, and Cosmos wallet Leap Wallet, etc.

Synthetix

2023 On March 17, the Synthetix Treasury Committee announced via email that DWF Labs had purchased $15 million of Synthetix's native token $SNX on March 16, with a further purchase of $5 million to follow. On the same day, according to the information released by DWF Labs official push, DWF Labs and the Synthetix Finance Committee reached an agreement to provide SNX with liquidity and market maker services on centralized and decentralized trading platforms. DWF Labs promises to become a member of the Synthetix protocol in multiple ways, including: integrating and trading Synthetix perpetual contracts, participating in SNX governance during the Epoch election, participating in community and product exchanges.

Synthetix is a decentralized liquidity layer, built on Ethereum and Optimism, powering some of the most exciting protocols in DeFi with liquidity backends. Stakers provide liquidity to back a range of synthetic assets and earn rewards and market returns as a result. This liquidity provides oracle price guarantees for trading synthetic assets and perpetual futures, eliminating the need for traditional order books and counterparties. As a result, liquidity becomes composable and fungible between markets, and traditional slippage is eliminated.

Synthetix V3 will be rolled out in phases over the next few months, with users slowly transitioning to V3 from their existing V2X systems.

Flare Network

On March 2, 2023, DWF Labs announced that it has invested in Flare, an EVM-based Layer 1 blockchain. The specific amount of investment was not disclosed.

Flare has two core protocols, State Connector and Flare Time Series Oracle. State Connector obtains information from other blockchains through a set of independent certification providers and transfers it to Flare Network. The smart contract of State Connector will check the consistency of the response to determine the validity of the obtained information. The Flare Time Series Oracle relies on a set of independent data providers to retrieve information on price pairs from external data sources. An external data source can be weighted by staking $FLR, and the most effective external data provider will share rewards with the $FLR stakers who contributed weight to it. Through the State Connector and the Flare Time Series Oracle, the Flare Network allows information from other chains and Web2 APIs to be used securely and trustlessly on Flare, and provides dApps with highly decentralized pricing and data series.

Coin98

DWF Labs announced their investment in Coin98 on December 30, 2022, for an undisclosed amount. Earlier, on January 5 last year, Binance Labs announced a strategic investment in Coin98.

Coin98 is a leading one-stop platform for DeFi, including Coin98 wallet, Coin98 trading platform, Space Gate cross-chain bridging service, etc. By the end of 2022, the number of Coin98 users will exceed 5 million, and the total transaction volume will exceed 750 million US dollars. In 2022, Coin98 will also issue its own stablecoin $CUSD.

Yield Guild Games (YGG)

On February 17, 2023, according to Tech in Asia reports, Yield Guild Games (YGG), a chain game association, has raised US$13.8 million through the sale of Tokens, led by DWF Labs and a16z. YGG co-founder Gabby Dizon revealed that YGG will use the new funds to further develop its soul-bound reputation token.

YGG is one of the largest blockchain game guilds in the world. By the end of 2022, YGG has more than 80 game and infrastructure partners, and has made great progress in SubDAO and e-sports.

TON

2022 On November 17th, DWF Labs announced a commitment of $10 million to support the TON ecosystem. In the next 12 months, DWF Labs also plans to make a total of 50 seed round investments aimed at accelerating the growth of TON and its projects.

TON is a Layer 1 blockchain solution developed by the Telegram Messenger team in 2018. $TON is the native token of the chain and is mainly used to pay transaction fees , and serves as a validator's deposit to ensure network security.

Conflux

2022 On September 16, 2019, Conflux received a strategic investment from DWF Labs, a Web3 venture capital institution. The specific financing amount was not disclosed.

Conflux is the only compliant, public, permission-free blockchain in China.

Mask Network

On January 19, 2023, DWF Labs, a Web3 investment company, announced a strategic investment and cooperation with Mask Network by purchasing MASK Token worth 5 million US dollars, which will be used to support decentralized social networks and the entire Mask Network The continuous construction of the ecosystem makes Web3 more accessible.

Mask is committed to protecting data privacy and building the best bridge between Web 2.0 and Web 3.0 . Through a browser extension, Mask introduces an ecosystem of 30+ popular Web 3.0 dApps/functions that can run seamlessly on existing Web 2.0 sites such as Twitter and Facebook.

Radix

On March 23, 2023, the Layer1 public chain Radix announced the completion of 10 million US dollar financing, this round of financing is fully supported by DWF Labs, with a post-investment valuation of US$400 million. Radix CEO Piers Ridyard said the DWF has provided $8 million in funding, with the remaining $2 million to be provided in the near future. Previously, Radix completed a financing of US$12.7 million in 2021, and issued XRD Token to the community in the same year.

Radix started as a blockchain research project in 2013, was corporated in 2017, and has continued to develop until now. Between 2013 and 2017, the project raised 3,000 bitcoins from the community. Piers Ridyard, CEO of Radix, said that not wanting to repeat existing technologies is the reason why the project’s research cycle lasts nearly 10 years. Radix will have its own unique consensus system, execution environment and programming language, and Radix’s programming language "Scrypto" Will be "easier to use" than Solidity.

Radix expects to launch a mainnet called Babylon in the second quarter of this year. Piers Ridyard said that more than 50 projects have been committed to building applications on Radix, ranging from DeFi to NFT markets. Radix launched the Olympia mainnet in July 2021, but the Olympia mainnet only supports users creating wallets and transferring/staking $XRD on the network. The Babylon mainnet will be released as the final version of the Radix technology stack, and users will be able to obtain a complete experience brought by many dApps.

Tomi

On March 22, 2023, according to Cointelegraph, alternative (non-traditional) Internet developer tomi completed $40 million in financing, led by DWF Labs, Ticker Capital, Piha Equities, and Japanese crypto investor Hirokado Kohji. It is reported that tomi was launched as a decentralized cloud computing network in 2022, aiming to create a version of the Internet managed by a decentralized autonomous organization (DAO) (decentralized digital assets and cloud services / anti-censorship). tomiDAO's mission is network governance, including voting on code change proposals and reaching consensus on managing content that violates community guidelines.

Orbs

On March 14, 2023, encryption infrastructure developer Orbs plans to raise $10 million from venture capital firm DWF Labs. Orbs said that DWF Labs will purchase up to $10 million worth of Orbs Token. Orbs CEO Nadav Shemesh said the first tranche of the total investment was settled today. He added that the rest of the investment would be "at an average price". Orbs was established in 2017, and its product positioning is "an independent execution layer between Layer 1 / Layer 2 solutions and application layers". Orbs plans to use the financing to continue developing its infrastructure to increase adoption of Orbs on the EVM chain and TON.

Beldex

On February 23, 2023, Beldex, a privacy technology start-up company, completed a financing of 25 million US dollars. The digital asset market maker and investment company DWF Labs invested and established a partnership with it. These funds will help promote the research and development of the Beldex ecosystem, while DWF will act as a consultant and help with the marketing campaign. The Beldex ecosystem includes BChat, a private messaging app, BelNet, a decentralized virtual private network (VPN), Beldex, a Web3 browser, and Beldex, a cross-chain privacy protocol that anonymizes cross-chain asset movement.

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