SINGAPORE, April 19, 2024 /PRNewswire/ -- DWF Labs, a new generation Web3 investor, will be onboarding as Klaytn's latest Governance Council (GC) member, with their GC membership application having passed on-chain voting with 98% in favor. In a bold move to demonstrate their commitment to fortifying liquidity and fostering expansive growth within the Klaytn ecosystem, DWF Labs will be independently acquiring the 5 million $KLAY required to function as a Core Cell Operator (CCO).

As a GC member, DWF Labs will strategically drive innovation and growth, fostering a dynamic synergy that aims to elevate the ecosystem to new heights. Leveraging their deep industry experience, technical acumen and impressive portfolio, DWF Labs will collaborate closely with the foundation to invigorate the ecosystem by:

• Acting as a bridge to mobilize resources from their portfolio companies

• Providing guidance and support to help promising projects achieve success

• Injecting and optimizing liquidity to foster a dynamic decentralized market

• Organizing D2I programs to boost upcoming key sectors

• Planning joint events to augment visibility and foster community growth

"We are excited to welcome DWF Labs to the Governance Council," said Sam Seo, Representative Director of Klaytn Foundation. "With our chain merge with Finschia right on the horizon, the timing is perfect for DWF Labs to bring their industry-leading expertise to bear and launch our newly-merged ecosystem into prominence across Asia's Web3 scene."

"We are proud to join the Klaytn Governance Council, as our commitment to leverage our expertise in market making and incubation to support the growth of Asia's largest Web3 ecosystem," said Andrei Grachev, Managing Partner of DWF Labs. "This partnership aligns with our vision of fostering innovation and driving blockchain adoption. By integrating with Klaytn and contributing to the upcoming chain merge with Finschia, we aim to create a more accessible and dynamic blockchain environment."

The chain merge between Klaytn and Finschia is poised to create Asia's largest Web3 ecosystem, with over 420 DApps and a potential user base exceeding 250 million by way of Klaytn's integration with Kakao and Finschia's with LINE - two leading messenger applications in Asia. By enabling seamless Web3 access through popular messaging apps, coupled with DWF Labs' unparalleled market making and incubation capabilities, the upcoming merged chain will be uniquely positioned to drive blockchain mass adoption across Asia.