An altcoin project, Crust Network, has recently received significant seven-figure funding from DWF Labs, marking a major milestone for the company. This long-term financial support will enable Crust Network to strengthen its infrastructure and expand its operations in decentralized storage, further solidifying its position as a leading player in the industry. Here are the details…
Investing in altcoin project
The timing of this funding is crucial for Crust Network as it prepares to launch its EVM storage service, the latest technological advancement that powers Omnichain. With the launch of this new module, Crust Network aims to seamlessly extend the Crust Storage Protocol across the entire EVM ecosystem to include the Crust mainnet, Polkadot parachutes, and EVM contracts. This integration will provide a streamlined decentralized storage solution for all EVM-based Blockchains, making decentralized storage more accessible and user-friendly within the EVM ecosystem.
The implementation of the new storage contract and Omnichain mechanism represents a significant leap forward for Crust Network. The platform previously provided cross-chain storage for other networks. However, these enhancements take their capabilities to new heights. It facilitates seamless storage sorting within the EVM ecosystem. It greatly improves interaction efficiency, positioning Crust Network as a reliable and efficient decentralized storage solution. Crust Network CTO Luke Fan expressed his excitement at the support provided by DWF Labs, saying:
It’s great that the DWF Labs team is focusing on the upcoming Crust ecosystem and lending their expertise and capital to the launch of Crust’s EVM Storage.
Crust chosen for storage of many projects
This collaboration with DWF Labs, a global crypto asset market maker and multi-stage Web3 investment firm, will undoubtedly strengthen Crust Network’s position in the market. Andrei Grachev, Managing Partner of DWF Labs, also shared his excitement in supporting Crust Network’s vision to revolutionize decentralized storage. Highlighting the potential of Crust Network’s platform, Grachev said:
We are excited to bring our expertise and capital to the launch of Crust’s EVM Storage, and we see huge potential in the 150+ projects currently being built on Crust Network. We look forward to seeing the continued success of Crust in Web3 Storage.
Crust Network’s reliability and appeal is evident from the fact that 65 Web3 projects have chosen and recently launched on the mainnet for their storage needs, including popular platforms such as Uniswap and AAVE. In addition, Crust Network serves as a parachain in the Polkadot ecosystem that uses the XCMP protocol and supports projects such as Moonbeam, Primer, Oak Network and more. Meanwhile, the project’s altcoin CRU jumped more than 4 percent on news of the investment.
DWF Labs continues to expand
With its decentralized cloud storage protocol, Crust Network is making significant strides in incentivizing storage orders and promoting the use of storage nodes on the IPFS network. Its comprehensive capabilities enable easy hosting of various websites, decentralized applications, NFTs and personal files. With support from DWF Labs, Crust Network is well positioned to further cement its leading position in decentralized storage. A global investment firm, DWF Labs has proven expertise in the crypto-asset market and provides comprehensive support to portfolio companies, from token listing to market making and OTC trading solutions.
With offices in key locations around the world, including Singapore, Switzerland, UAE, Hong Kong, South Korea and the BVI, DWF Labs is a subsidiary of Digital Wave Finance (DWF), which is consistently ranked among the top 5 trading organizations by volume in the cryptocurrency world. DWF Labs’ support expresses confidence and confidence in the Crust Network’s potential to revolutionize decentralized storage.
As Crust Network continues to innovate and expand its operations, the future looks promising for the company and the decentralized storage industry as a whole. With its strong financial backing and technological advancements, Crust Network is poised to make a lasting impact in the world of decentralized storage by providing users with secure, scalable and interoperable storage solutions across multiple chains.
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