DWF Labs has made a significant investment in the Orbs Network, a blockchain infrastructure provider, through a token sale. The investment of $10 million has seen the native ORBS token rise by almost 15% to 3.4 cents, giving the token a market cap of $85 million. The news is cleared by our reports. Orbs Network has recently introduced its primary layer 3 solution, which is a decentralized protocol called “time-weighted average price” or dTWAP, catering to decentralized exchanges. Orbs and DWF Labs are both heavily involved in the TON ecosystem, developed by the founders of Telegram Messenger.
Andrei Grachev, a partner at DWF Labs, said that Orbs is a highly promising project within the TON ecosystem. The investment firm expressed its delight in supporting Orbs’ vision for the future of decentralized finance. Grachev emphasized that Orbs’ dTWAP protocol for decentralized exchanges and contributions to the TON ecosystem reflect their dedication to advancing growth and innovation in the industry.
In 2017, Orbs was established to provide public blockchain infrastructure that delivers scalability, speedy performance, low transaction fees, security, and user-friendliness. Its platform was designed for mass-adoption applications that may encounter high fees and slow throughput. It can also function as the foundation for a complete blockchain technology stack. Orbs launched its mainnet and ORBS token in early 2019.
The rise in the ORBS token is significant given the current market conditions, which have seen the cryptocurrency market experience a sharp downturn in recent months. Despite the volatility, the crypto market remains an attractive investment opportunity for many, with Bitcoin and Ethereum both seeing strong gains in recent weeks.
