DWF Labs Received 120M TOKEN From Floki: Here are Possible Connections

Data from the crypto analytics platform Spot on Chain revealed that DWF Labs, a Web3 investment firm, received 120 million TOKEN from Floki.

The transfer of TOKEN to DWF Lab’s controlled wallet came in two tranches of 60,000,000 (60 million) TOKEN each. According to Spot on Chain, Floki transferred the assets from its Multisig wallet.

DWF Labs and Floki Alliance: The Connection

The receipt of 120,000,000 TOKEN by DWF Labs has many possible explanations, mostly shrouded in complications. One of the most plausible explanations is that the firm received these assets as one of its seed investors.

Floki branded TokenFi as a platform set to capture the tokenization industry projected to hit a $16 trillion valuation in 2030. With the introduction of this platform about a week ago, there is a likelihood DWF Labs helped in seeding the development in which case, a bet that might have entitled it to some TOKEN allocation. 

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Though this is the norm in the crypto ecosystem, the move fits DWF Labs’ profile as an investor in the industry. Notably, the vesting model for TOKEN casts doubts on the potential of this first thesis. However, this remains a speculation and is not yet verified.

Another possible explanation is that DWF Labs in its capacity is facilitating Over-The-Counter (OTC) trades to help the team meet liquidity demands. In a week since its emergence, Floki has recorded an altercation with Bitget Exchange over alleged liquidity manipulation. 

While the Floki team has debunked the claims, it does not negate the need to provide the liquidity necessary to stabilize the meteoric rise of TOKEN on both centralized and decentralized exchanges where it trades.

TOKEN Driving Impressive Milestones

The launch of TOKEN already spelled a great omen for the asset and FLOKI. First, the sentiments that accompanied it pushed FLOKI into the top 100 listed crypto projects last week, underscoring the enthusiasm TOKEN brought with it.

The launch and the accompanying introduction of Staking has also showcased massive milestone with over 1.5 trillion FLOKI staked in just three days.

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• Source: https://thecryptobasic.com/2023/11/01/dwf-labs-received-120m-token-from-floki-here-are-possible-connections/?utm_source=rss&utm_medium=rss&utm_campaign=dwf-labs-received-120m-token-from-floki-here-are-possible-connections