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During the most heated days of bull markets, we will likely hear the name DWF Labs frequently. The obvious does not need a guide. In 2021, giants like Alameda or other 3AC played a similar role to what DWF Labs is aiming for now. Will the outcome be the same? We have extensively discussed similar aspects, criticisms, and risks; you can check them out by searching.
API3 and DWF Labs
The strategic treasury diversification round led by DWF Labs has been completed. Spartan Group, Laser Digital (Nomura), and Caladan (formerly known as AlphaLab) also participated in this round. A total of 4 million USDC was raised, and over 1.4 million API3 Tokens were allocated for the treasury. The price per API3 Token was $2.81, which was a discounted price. The discount rate was 20% based on the 7-day TSWAP average.
DWF Labs invested 2 million USDC, while Spartan Group invested 1 million USDC.
- DWF Labs: 2M USDC, 711,744 API3
- Spartan Group: 1 MILLION USDC, 355,872 API3
- Laser Digital (Nomura): 500K USDC, 177,936 API3
- Caladan (formerly known as AlphaLab): 500K USDC, 177,936 API3
Token locks will start to open for investing companies after 6 months. Half will open at once, and the remaining part will open monthly after 6 months. The team wrote the following in the latest announcement:
“The strategic financing round will provide additional liquid capital to support ongoing development, marketing efforts, and business development initiatives for API3. The funds are intended to be used intensively for the mainnet launch of the OEV Network, further integration of decentralized applications (dApps) and blockchain networks, and the continuous development and promotion of API3 services.”
API3 Price Prediction
With the latest news, the token price increased by over 10%. Although it temporarily surpassed the $3.2 resistance area, the price has not been able to close above this region. On the other hand, if the $2.96 support for API3 Coin is maintained, it would not be surprising to see new upward attempts.
In a potential rally, the main target is $3.51, and with closures above this, the 2024 peaks of $4.35 and $4.95 could be tested again.
