- TomoChain, the crypto firm behind $TOMO, confirmed its seven-figure vested token investment agreement with DWF Labs.
- The funds will be used to help improve its layer-1 blockchain infrastructure and for the team’s expansion.
- TomoChain also committed to further its technical development efforts to make onboarding more people in the web3 space possible.
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.
TomoChain x DWF Labs
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.
What is TomoChain?
TomoChain is a blockchain that claims to be committed to scalability, security, and decentralization. It was one of the early projects that was listed on Binance when its mainnet was launched in 2018.
It uses proof-of-stake voting consensus, which gives an incentive to all TomoChain token-holders to play an active part in staking across a network of 150 masternodes and to monitor their performance and governance actively.
TomoChain also offers the TomoZ or Zero Friction protocol, which allows token holders to pay transaction fees in a token of their choice.
“TomoChain’s mission is to accelerate the onboarding of millions of users by empowering today’s applications with technology that masks the friction of Blockchain, all while retaining its underlying benefits,” it highlighted.
This article is published on BitPinas: TomoChain Secures Token Investment Agreement with DWF Labs
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