DWF Labs Partners with Algorand Foundation and Will Purchase $50 Million $ALGO

Web3 investment firm DWF Labs announced a partnership with Algorand Foundation to support the health and growth of the ecosystem built on the Algorand blockchain.

The first component of the partnership involves a $50 million ALGO token purchase agreement to, in part, provide liquidity into the Algorand ecosystem. An additional MOU has been signed with the aim of allocating funds to support projects that are building on the Algorand blockchain in the spaces of DeFi, Art and Music, Gaming, Oracles and Bridges, and Infrastructure.

Algorand ($ALGO) is a decentralized PoS based Layer1 public blockchain infrastructure that supports smart contracts applications.

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