DWF Labs doubles AirDAO with $500,000 grant.
quick take
DWF Labs has doubled its commitment to AirDAO with a $500,000 grant, signaling a shift to a more proactive partnership approach. This investment will solidify AirDAO’s growth as a preeminent layer-1 blockchain ecosystem by fostering the development of dApps and mobile-first DeFi protocols.
DWF Labs strengthens its partnership with AirDAO, providing $500,000 in grants to grow the ecosystem.
In an important move that signals our growing commitment to AirDAO, DWF Lab, a global digital asset market maker and multi-level web3 investment firm, announced a significant grant of $500,000 to the AirDAO ecosystem treasury at its recent conference held at CRYPTO2030 in Davos, Switzerland. This grant serves as further evidence of the partnership between the two organizations and further solidifies DWF Labs’ belief in the potential of AirDAO’s rapidly evolving ecosystem.
DWF Labs and AirDAO have a history of collaboration including: DWF Labs previously invested $7.5 million in AirDAO in October 2023.next time Investment of $2 million in September 2022. The recent $500,000 grant reflects DWF Labs’ continued confidence in the AirDAO Board’s ability to make strategic investments to foster ecosystem growth and development.
One notable aspect of this grant is the shift from a pre-submission framework agreement to a more proactive approach. Previously, DWF Labs had committed a $1 million joint ecosystem development fund, subject to prior approval for the investment. The new grant marks an important step forward as DWF Labs now delegates discretion to make investment decisions independently to the AirDAO Board.
The allocation of these funds will be used for development and development. Launch of a decentralized application (dApp) aimed at improving the usability of the AirDAO ecosystem. Additionally, the grant will support: Creating a mobile-first Decentralized Finance (DeFi) protocolIt is intended to provide AirDAO users with improved access to decentralized finance tools and expanded investment opportunities.
As the partnership between AirDAO and DWF Labs deepens, it is becoming increasingly clear that DWF Labs is delivering on its promises beyond the realm of investing and market making. Our partnership with DWF Labs has proven to be pivotal to AirDAO’s growth. This is because it not only provides significant financial backing, but also leverages the expertise of DWF Labs, one of the world’s largest high-frequency cryptocurrency trading houses actively trading on over 60 top exchanges.
The strategic nature of the partnership is further emphasized by the October 2023 investment terms, which include a one-year cliff and a 36-month vesting schedule. In connection with this investment, DWF Labs borrowed 1.5 billion AMB (AirDAO’s native token), which vests over three years.
With the financial support provided by DWF Labs, AirDAO is well-positioned to expand its ecosystem, launch innovative dApps, and strengthen its position as a layer 1 blockchain. As the cryptocurrency industry continues to evolve, collaborations like this demonstrate the deepening commitment of traditional financial institutions to the burgeoning world of blockchain and cryptocurrency.
This latest development reaffirms the optimistic sentiment surrounding AirDAO. AirDAO leverages the growing support of major players within the cryptocurrency industry and represents a promising path for the growth and development of the ecosystem.
Also Read: Bitget Releases Inspirational Lionel Messi Film for #MakeItCount 2024 Campaign
