Date of investment: 2023-03-09

DWF Labs is excited to announce our investment in Orbs, an open, decentralized, and public blockchain infrastructure executed by a secure network of permissionless validators using Proof-of-Stake (PoS) consensus. Orbs acts as an L3 Decentralized Backend, enhancing the capabilities of existing EVM and non-EVM smart contracts, and opening up a whole new spectrum of possibilities for Web 3.0, DeFi, NFTs, and GameFi.

By operating as a decentralized serverless cloud, Orbs Network removes centralized points of failure, allowing developers to extend smart contracts with L3 decentralized backend services. These services are executed by Orbs PoS validators, known as Guardians, relieving DeFi and Web 3.0 projects of the need to rely on centralized backend solutions. As part of a tiered blockchain stack, Orbs is set up as a separate decentralized execution layer operating between existing L1/L2 solutions and the application layer, without moving liquidity onto a new chain. With Orbs Network's L3 infrastructure layer, developers can execute complex logic and scripts that cannot be implemented on smart contracts alone, thus providing services to existing DeFi applications for further decentralization and enhanced capabilities.