BWLabs invested $2 million USD in the decentralized acceleration protocol system WeBlock for product development, liquidity providing and DeFi ecosystem
Oct 13, 2020
Recently, BWLabs, a research institute under the world's top exchange platform BW.com, announced that it has reached a cooperation with WeBlock, a decentralized acceleration agreement system.
October 12, 2020 /PressReleaseAgency/ —
Recently, BWLabs, a research institute under the world's top exchange platform BW.com, announced that it has reached a cooperation with WeBlock, a decentralized acceleration agreement system. BWLabs will invest US$2 million in WeBlock. The funds are mainly used for the research and development of WeBlock products, WeToken the provision of liquidity in the decentralized protocol and the ecosystem co-construction of BWLabs and WeLabs(a product under WeBlock) around the DeFi field.
It is reported that WeBlock is the first investment project of BWLabs this year, and also the first external cooperation in the DeFi field. Previously, BWLabs has worked with WeBlock to create a "DeFi zone" on BW.com for popular mainstream DeFi token trading. In this investment cooperation, BWLabs hopes to use WeBlock's advantages in project acceleration and incubation to explore and cultivate more high-quality and potential DeFi projects.
"We are very pleased to be able to cooperate with BWLabs, a research institute with an international vision," said WeBlock's CTO, Mr. Abba Garba, “Relies on the world's top three mining pools and world-class exchange BW.com , The exploration and learning of BWLabs in the DeFi field is very admirable. We hope that this cooperation will allow both parties to reach a new level in the DeFi field."
WeBlock is a decentralized acceleration protocol system launched in June 2019. It contains six acceleration products to help blockchain projects solve a series of services from initial funds, team management, community operations and exchange docking. In the DeFi boom period in August this year, WeBlock has captured a series of popular DeFi projects such as DeFi.Money (YFII), MixTrust Exchange (MXT), Bella Protocol (BEL), connectome (CNTM), etc. , and both Marketing and investment reached a very good performance in return. As a decentralized protocol, all of WeBlock’s income and investment returns will be returned to the community. Therefore, WeBlock connects the entire product line and economic operation model through its LP token: WeToken(short for WON). WON will exist as WeBlock’s external value performance and it will soon enter the secondary market.
WeLabs is the research center on BW.com, according to Coinmarketcap, BW stands for Bitcoin Website. BW started in 2014 as a Bitcoin mining pool. To date, 300,000 BTC, 1.5M LTC, and 2M ETH have been mined by BW pool. In 2017, BW launched its exchange service. BW has 6 major business units including spot trading, options trading, OTC, P2P, and a launch pad for projects. Recently, BW has been exploring the direction of DeFi very quickly. On the one hand, it has launched the "DeFi Zone" and is cooperating with WeBlock to explore future high-quality DeFi projects. A series of popular projects have been launched including UNI, SUSHI, PEARL, SUN, etc. One the oter hand, the liquidity mining function has also been launched, and users can mine some high-quality DeFi currencies by depositing the mainstream tokens like USDT and ETH.
Contact Info:
Name: Media Relations
Email: Send Email
Organization: WeBlock
Website: https://www.weblock.vip/
Source: PressReleaseAgency
Release ID: 88980589
More News
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.