An important partnership news has emerged in the cryptocurrency market today. The major market maker, DWF Labs, announced its partnership with altcoin KAVA. Let’s take a look at the details.
DWF Labs, a global digital asset market maker and Web3 investment company, made a significant move today. According to the announcement, it has established a strategic partnership with Layer-1 Blockchain Kava Chain. The partnership aims to accelerate the growth of Kava’s DeFi ecosystem, especially its decentralized exchanges (DEXes).
Kava Chain is a secure Layer-1 Blockchain that combines Ethereum‘s development power with Cosmos’ speed and interoperability in a single scalable network. Kava also serves as the central hub for USDt on Cosmos. The project’s cryptocurrency, KAVA, consistently ranks among the top 100 cryptocurrencies by market capitalization. Additionally, KAVA Chain currently has an impressive total value locked (TVL) of $230 million.
As part of the partnership, DWF Labs will provide strategic insights for DEXes built on Kava Chain, including risk management, liquidations, fee structures, tradable products, and market maker programs. DWF Labs will also integrate up to 10 Kava Chain DEXes and persistent DEXes, and initiate proprietary trading. Furthermore, DWF Labs commits to creating a significant commercial presence by targeting at least a 7.5% market share of the total trading volume on Kava Chain’s DEXes.
Andrei Grachev, Managing Partner at DWF Labs, commented on the matter:
“Supporting the growth of Kava’s DeFi ecosystem aligns perfectly with our mission to foster blockchain innovation. We are extremely excited to leverage our position in the market to make a meaningful contribution to Kava’s roadmap.”
Following this development, we can see that KAVA price has increased by nearly 3%. At the time of writing, KAVA is trading at $0.82.