DWF Labs invests $60m in EOS Network token and ecosystem

The market maker DWF Labs has entered into a partnership with EOS Network, which envisages investments of more than $60 million.

#EOS ? @DwfLabs https://t.co/ZlGYi5Obbv

— EOS Network Foundation (@EOSnFoundation) April 13, 2023

DWF supported the network by purchasing $45 million worth of native EOS tokens. In addition, the company pledged to invest $15 million in platform-built projects.

According to the market maker’s representatives, the investments are aimed at accelerating the blockchain’s “expansion and adoption”.

DWF Labs will work with the EOS Network Foundation (ENF) venture arm, which allocates funding and works on the development of the mainnet.

In March 2023, ENF announced plans to invest $20 million in the development of applications and gaming products on the platform after the launch of EVM.

In April 2023, a Twitter user suspected DWF Labs of dumping tokens from its portfolio projects totalling at least $65 million.

Earlier, the market maker invested in several Web3 startups, including Alchemy Pay, Fetch.ai, Synthetix and Conflux.