- DWF Labs has successfully led a strategic treasury diversification round, raising significant funds for API3.
- This round saw participation from notable entities such as Spartan Group, Laser Digital (Nomura), and Caladan.
- The round raised a total of 4 million USDC and allocated over 1.4 million API3 Tokens at a discounted rate.
Discover how DWF Labs and other major investors are shaping the future of API3 with a strategic treasury diversification round.
Who Invested What?
DWF Labs contributed 2 million USDC, resulting in an allocation of 711,744 API3 Tokens. Spartan Group followed with an investment of 1 million USDC, receiving 355,872 API3 Tokens. Laser Digital (Nomura) and Caladan both invested 500K USDC, each acquiring 177,936 API3 Tokens. This funding round aims to provide API3 with the liquidity needed to support ongoing development, marketing, and business initiatives.
When Will Token Locks Open?
The lock period for these tokens will last for six months, after which half of the tokens will become available. The remaining tokens will unlock on a monthly basis. According to the team, the raised funds will be allocated towards the mainnet launch of the OEV Network, integration of decentralized applications, and continuous enhancement of API3 services.
Key Investment Takeaways
- DWF Labs led the round with a $2 million investment.
- Spartan Group, Laser Digital, and Caladan also participated with significant contributions.
- The token price saw a 10% increase following the news.
- Token locks will begin to unlock after six months, with a phased release schedule.
- Funds will primarily support the mainnet launch and further integration of API3 services.
What Does the Future Hold for API3 Tokens?
Following the fundraising announcement, the price of API3 Tokens surged by over 10%. Despite temporarily breaching the $3.2 resistance level, the price has struggled to close above this area. However, maintaining the $2.96 support could trigger further upward movements. In a bullish scenario, the targets are set at $3.51, with potential peaks at $4.35 and $4.95 in 2024.
Conclusion
In conclusion, the strategic treasury diversification round led by DWF Labs signifies a strong vote of confidence in API3’s future prospects, potentially setting the stage for significant growth and development in the blockchain ecosystem.
