Recently DWF Labs, a popular market maker that has recently become popular, invested in TomoChain. The specific number has not been disclosed.
According to the announcement, TomoChain will use the raised capital to expand the team and increase technical development efforts for their layer-1 infrastructure.
Besides financial support, DWF Labs will contribute to strengthening and promoting TomoChain's ecosystem development roadmap through their extensive network.
Previously, this project was also invested by Coin98 for an undisclosed amount.
TomoChain is a scalable, secure, and decentralized blockchain platform. With its mainnet launch in 2018 with the vision of creating a fast, efficient and environmentally friendly blockchain infrastructure, TomoChain has attracted significant attention in the blockchain sector.
DWF Labs is a fund and market maker with locations in Singapore, Switzerland, British Virgin Islands, United Arab Emirates, South Korea and Hong Kong.
DWF Labs is widely known for pushing up the price of $DODO token or $LADYS memecoin after a strong consolidation phase.
Specifically, on August 8, DWF Labs performed a series of actions to push tokens to the exchange after receiving tokens returned from the lockup. According to Lookonchain, in just 1 day, the value of $DODO skyrocketed by 33%!