Digital asset market maker and multi-stage web3 investment firm DWF Labs and TomoChain have entered into a seven-figure vested token investment agreement, the firm behind the altcoin $TOMO announced.

In a statement, TomoChain said that the investment is set to help improve its layer-1 blockchain infrastructure, which will promote more crypto natives to be onboarded. The raised funds will also be used for team’s expansion.

“The mission of TomoChain is to accelerate the onboarding of millions of users by adopting blockchain technology that covers the friction while keeping the underlying benefits,” the crypto firm stressed. “An assortment of unique features and protocols, including TomoChain’s technology, are designed to support speed, privacy, usability, and liquidity requirements all in one platform.”

A token investment agreement is a type of contract that allows the investor to fund the development of a new project in exchange for receiving a discounted amount of the project’s token in the future.

“Beyond the financial support provided by DWF Labs, the Web3 multi-stage investment firm and liquidity provider will add substantial value in strengthening and catalyzing our ecosystem development roadmap with their extensive network in the industry,” the blockchain expressed.

Moreover, TomoChain explained that to make onboarding more people in the web3 space possible, it will further its technical development efforts. The blockchain can currently host 2000 transactions per second with a two second block time, and the smart contracts on TOMO are Ethereum compatible, according to the team.

“To foster continued sustainable growth and expansion, we will also be actively working on developing ecosystem initiatives and tools to foster the continued growth of the TomoChain community,” TomoChain concluded.