Original author: FYJ, Noc, 0x 711, BlockBeats
Looking back at the recent market, Bitcoin returned to 30,000 US dollars, leading the market upward, and many popular counterfeit companies took turns to perform. Among the popular bids, Wintermute makes the market for OP, BLUR, and ARB, and DWF Labs is behind CFX, MASK, and ACH. There are even rumors that DWF Labs is the largest market maker of Conflux (CFX), the leading conceptual leader in Hong Kong. The two institutions are in the market Clouds and rains are ups and downs, and the limelight can be said to be the same for a while.
In addition to project competition in the secondary market on the surface, the two mainstream market makers are not harmonious in private.
Since March, DWF Labs has been sweeping the secondary market at an average rate of about 5 projects per month. Such frequent sales have aroused heated discussions in the community. Some people say that DWF is not a real investment, and the purpose of taking coins is to make a market. In this regard, DWF Labs partner Andrei Grachev responded to the question two days ago, In addition to investment, we usually bring additional support, which is regarded as the default of this investment + market making compound operation mode.
Interestingly, Andrei Grachev immediately reposted a Thread on social media. The tweet first reposted The Blocks follow-up report on DWF Labs doubts, and then changed the subject, recalling that The Block accepted FTXs secret investment, The former CEO received SBFs money to buy a villa in the Bahamas, was reported by CZ that the police broke into Binance indiscriminately, and deleted his old news articles, and finally threw out key information: March 31 , The Block appointed Wintermute CEO Evgeny as a member of the board of directors, and Evgeny said that it will never involve financial transactions.
Two weeks later, The Block voluntarily disclosed that Evgeny has an equity stake.
The author then deduced that Wintermute was instructing The Block to discredit DWF Labs.
The article then accused Wintermute of ineffective market-making on ARB, and the fact that Wintermute was stolen by hackers in a DeFi attack of US$160 million last year due to the use of a good name address. Whether intentional or not, Andrei Grachev explained his security philosophy in response to the questioning of DWF Labs, repeatedly emphasizing in his words that we never store too much money in the wallet on the chain - a case of market makers and funds being hacked There are too many and we dont want to be victims.
There is no real evidence of the existence of black and white drafts, but the tension between Wintermute and DWF Labs is real. Previously, on April 10, Wintermute CEO Evgeny reposted a tweet that broke the news of Andrei Grachev. The article digs into a lot of Andrei Grachevs past experience, pointing out that he was the head of Huobis Russia region and is considered to be related to the notorious encryption OneCoin, the largest fraudulent project in history, has been implicated. But Evgeny mainly commented on the poor investment performance of DWF Labs summarized in the article, calling it a wrong market maker.
Two days before and after, Andrei Grachev talked about the business philosophy of DWF Labs on social media, and disclosed the details of market making in response to doubts, and Evgenys cynicism continued.
first level title
Wintermute participates in the market making project
APE
Data on the chain shows that on March 4 and 18, 2022, a total of 3.5 million APEs were transferred to the Wintermute market-making address in two transactions.
On March 16, 2022, the day before Ape went live, the APE in the Wintermute multi-signature address was transferred to the address marked as Wintermute 1 on the chain, and then sent to a number of centralized trading platforms (Binance, Coinbase, KuCoin, etc. ).
According to the K-line, it can be roughly speculated that APE will be launched on March 17, 2022, and the highest price on that day will be 28 US dollars. Wintermute will sell APE at the high opening price of the centralized trading platform, and then buy it from Uniswap at a relatively low price. The chips that have been sold will also undertake the selling pressure of the APE airdrop and stabilize the price.
After a period of repeated market-making and accumulation on the centralized trading platform, the price of APE was pulled to the previous high for the second time on April 28, 2022. The highest price on that day was 27.602 US dollars. Transfer to Binance to complete the shipment and get a lot of benefits.
Since then, Wintermute has started the process of gradually reducing its holdings of APE until it completely withdraws from the APE market in June 2022. As of writing, APE was provisionally trading at $4.601.
OP
In June 2022, the Optimism Foundation invited Wintermute, a cryptocurrency market maker, to provide liquidity supply services to facilitate a smoother experience for OP users to participate in collective governance. To carry out this collaboration, the Foundations Partner Fund allocated a temporary grant of 20 million OP tokens to Wintermute.
Although the OP was stolen due to communication and technical mistakes between the two parties in this cooperation, it affected the currency price performance of OP in the initial stage of listing. However, after properly solving the hacking incident and experiencing more than a month of decline and exchange of chips, OP suddenly bucked the trend and rose sharply in mid-July, rising from around $0.4 to above $2.2 within 20 days.
BLUR
The information on the chain shows that the Wintermute market-making address received a total of 15 million BLUR in two transactions on February 14 and 15, 2023, and then transferred the chips to major trading platforms for market-making.
In terms of currency price performance, BLUR was not satisfactory. After experiencing a short-term pull at the initial stage of listing and hitting a high of 1.4 US dollars, BLUR began to fall all the way, fluctuating in the range of 0.4-0.5 US dollars. It is worth noting that its performance in the past two days has been outstanding. It rose from $0.56 to $0.66, an increase of nearly 20%.
ARB
According to public information, on March 23, 2023, the Arbitrum Foundation transferred 50 million ARBs to the Wintermute address, of which 40 million were used for market making.
The price of ARB, which bears the aura of the largest Layer 2, was basically in line with everyones expectations at the initial stage of listing, and remained fluctuating around $1.3. Then the community broke out that the Arbitrum Foundation transferred and distributed ARB Token before the AIP-1 proposal was passed, and transferred 750 million ARBs to the administrative budget wallet and other bad news. Affected by this, ARB once dropped to around $1.1. At present, the trend of ARB seems to be copying the script of the OP. After experiencing negative events and suppressing currency prices, ARB has continued to rise since April 13, and has risen by more than 30% from a low of $1.15.
first level title
DWF Labs participates in investment or market-making projects
MXC
On September 1, 2022, MXC recently listed on Coinbase Pro and announced that it has received tens of millions of dollars in investment from the worlds top quantitative fund DWF. MXC was established in Berlin, Germany in 2018. It has helped communities in 177 countries around the world to establish a world-leading Web3 Internet of Things network in four years. It is currently used by companies such as Deutsche Bahn and GIN 1689 in the Netherlands for Internet of Things and NFT on-chain applications.
It is worth noting that since the beginning of this year, the price of MXC has been very sluggish, falling against the trend from around US$0.033 at the beginning of the year to US$0.019.
Conflux
On September 16, 2022, according to official sources, Conflux received a strategic investment from DWF Labs, a Web3 venture capital institution. The specific financing amount was not disclosed.
CFX has performed very well this year, from $0.03 at the beginning of the year to $0.4 now, a solid 10-fold currency.
TON
On November 17, 2022, DWF Labs announced a $10 million commitment to support the TON ecosystem. In the next 12 months, DWF Labs also plans to make a total of 50 seed round investments aimed at accelerating the growth of TON and its projects.
Mask
On January 19, 2023, DWF Labs announced a strategic investment and cooperation with Mask Network, and invested by purchasing MASK Token worth 5 million US dollars, which will be used to support the decentralized social network and the entire Mask Network ecosystem. Continue building to make Web3 more accessible.
Similar to CFX, MASK is also the currency with the highest growth rate in the whole market this year. From last years Twitter concept currency to todays Hong Kong concept, the currency price has continued to rise, from 0.965 in October last year to $5.76 today, an increase of nearly 6 times.
YGG
On February 17, 2023, Yield Guild Games (YGG), a chain game association, has raised US$13.8 million through the sale of tokens, led by DWF Labs and a16z. YGG co-founder Gabby Dizon revealed that YGG will use the new funds to further develop its soul-bound reputation token.
The YGG currency price has not performed well this year, and it is currently fluctuating between 0.2-0.3 US dollars.
Orbs
On March 14, 2023, crypto infrastructure developer Orbs plans to raise $10 million from DWF Labs. Orbs said that DWF Labs will purchase Orbs Token worth up to $10 million. Orbs CEO Nadav Shemesh said the first tranche of the total investment was settled today. He added that the rest of the investment would be at an average price.
SNX
On March 17, 2023, DWF Labs and the Synthetix Finance Committee reached an agreement to provide SNX with liquidity and market maker services on centralized and decentralized trading platforms. DWF Labs promises to become a member of the Synthetix protocol in a variety of ways, including: integrating and trading Synthetix perpetual contracts, participating in SNX governance during the Epoch election, participating in community and product exchanges.
Radix
On March 23, 2023, Radix, a Layer 1 public chain, announced the completion of financing of US$10 million. This round of financing was fully supported by DWF Labs, with a post-investment valuation of US$400 million. Radix chief executive Piers Ridyard said DWF has provided $8 million in funding, with the remaining $2 million to be provided in the near future. It is reported that Radix has a self-developed consensus system and execution environment, and is expected to launch a mainnet called Babylon in the second quarter of this year.
SO-COL
On March 28, 2023, according to The Block, SO-COL, the Web3 social platform founded by Irene Zhao, completed a new round of financing of US$4.5 million, which was fully supported by DWF Labs.
apM Coin
On March 30, 2023, apM Coin, a blockchain customer rewards platform, announced that it has received $5 million in investment and an optional partnership contract worth $1.5 million from DWF Labs. apM Coin stated that through investment and cooperation with DWF Labs, it will jointly develop and expand the inter-chain payment solution of the apM Coin Project.
ACH
On April 3, 2023, Singapore-based encrypted payment service provider Alchemy Pay announced the completion of a $10 million financing at a valuation of $400 million. This round of financing was led by DWF Labs, and the funds will be used to expand its presence in South Korea. business.
Hong Kong and the concept of payment are superimposed, from $0.0072 at the beginning of the year to $0.041 now, a nearly five-fold increase this year.
TOPGOAL
On April 4, 2023, TOPGOAL, the football metaverse project, announced that it has received millions of dollars in investment from DWF Labs. The announcement stated that the investment will enable TOPGOAL to build a soccer metaverse driven by artificial intelligence and blockchain technology, further realizing its vision of bringing sports to Web3 and creating new digital and virtual experiences.
RACA
On April 6, 2023, the chain game RACA (formerly known as Radio Caca) received a US$16 million investment from DWF Labs. The investment included the purchase of several RACA Tokens. The funds raised will help RACA advance its goal of the Web3 game ecosystem. Founded in 2021 as the NFT manager for Elon Musks mother Maye Musk, RACA has launched R 3 game infrastructure, SimCity-style sandbox game USM.WORLD, social party game Looki Looki Jazzi, cross-game DID wallet JAZ and NFT market.
After the news of the financing was released, RACA once rose by more than 20%, but now it has fallen slightly and is fluctuating sideways.
LABEL
On April 10, 2023, the NFT infrastructure protocol LABEL announced that it has received $1 million in venture capital from DWF Labs. LABEL aims to build a fair profit-sharing ecosystem. The ecosystem is powered by LBL utility and governance token. In addition, LABEL has introduced a decentralized P2P incubation platform to invest in entertainment and educational content through the DAO voting system, which provides content creators in the MOOC industry with a convenient way to promote and distribute their intellectual property.
RSS3
On April 11, 2023, DWF announced another investment of 10 million US dollars. This investment is for the acquisition of RSS3 Token worth 10 million US dollars. Previously, RSS3 announced that it will launch the AI open platform AIOP to provide Web3 information sources for AI models such as GPT. RSS3 aims to become an innovative protocol that organically combines Web3 with AI, search engines and social media.
EOS
On April 13, 2023, EOS Network received a $60 million investment from DWF Labs. The two have signed a $45 million EOS Token purchase agreement and a $15 million investment commitment
