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WiFi Map, a leading internet connectivity tool with over 150 million users, is launching the $WIFI utility token on March 30, 2023 in partnership with digital asset market maker DWF Labs.
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One of the biggest drivers of innovation in the crypto ecosystem is Venture Capitalist firms. These firms fund the dreams of founders and allow them to create new solutions to drive Web3 forward. These new solutions grow the crypto ecosystem and create even more opportunities.
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- Yield Guild Games (YGG), announced the successful sale of US$13.8 million worth of tokens to an investment group spearheaded by DWF Labs and a16z Crypto.
- The exact number of tokens sold was not made public, it is estimated that YGG’s sale constituted over 35% of their treasury, worth an estimated US$25 million as of November 2022.
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Besides weeding out weak players, Andrei Grachev suggested in a written response to questions from Bitcoin.com News that the collapse of key crypto industry players like FTX and Terra has highlighted the importance of adopting measures that protect users. One such measure, which can be used by global digital asset market makers like DWF Labs, is the so-called pump-and-dump protection scheme. The scheme is essentially a liquidity management technique across exchanges.
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The decision to add the options suggests growing investor interest in derivatives tied to alternative cryptocurrencies. TON is the native cryptocurrency of the decentralized layer 1 blockchain The Open Network.
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"The impending downfall of Genesis has been a topic of concern for some time, as the majority of its assets are owned by US hedge funds and the market has already adjusted for this news," Andrei Grachev, the Managing Partner at digital asset market maker DWF Labs, told Insider.