DWF Labs, a market maker and investment firm, has invested $10 million in Orbs Network, a blockchain infrastructure provider, through a token sale.
This investment caused a significant rise of almost 15% in the native ORBS token, which now has a market cap of $85 million and is valued at 3.4 cents. Orbs recently launched its decentralized "time-weighted average price" (dTWAP) protocol for decentralized exchanges, which is its flagship layer 3 product. Both Orbs and DWF Labs are heavily involved in the TON ecosystem, developed by the founders of Telegram Messenger. DWF Labs partner Andrei Grachev stated that Orbs is a highly promising project within the TON ecosystem and that the investment shows their commitment to advancing the potential for growth and innovation in decentralized finance.
Orbs was founded in 2017 and offers public blockchain infrastructure that provides scalability, low transaction fees, fast performance, security, and ease of use. It is designed for mass-use applications that may run into high fees and slow throughput and can be used as the backend for a full blockchain technology stack. The ORBS token and mainnet were launched in early 2019.