DWF Labs Pledges Long-Term Financial Support to Crust Network
Crust Network, a decentralized storage network, has successfully secured seven-figure funding from DWF Labs. This long-term financial support will enable Crust Network to further enhance its infrastructure and expand its operations in the decentralized storage space.
The financial support arrives at a critical time for Crust as it prepares to launch its EVM Storage, a new technological advancement that supports Omnichain. Crust Network will leverage its new functionalities to seamlessly extend the Crust Storage Protocol across the entire EVM ecosystem. This module integrates the Crust mainnet, Polkadot parachains, and EVM contracts to provide a streamlined decentralized storage solution for all EVM-based blockchains. With these advancements, Crust Network aims to make decentralized storage more accessible and user-friendly within the EVM ecosystem.
It marks a significant technological advancement for Crust Network. While Crust Network was previously capable of providing cross-chain storage for other networks, the adoption of a new storage contract, along with Omnichain mechanism, has taken it to a whole new level. These enhancements facilitate seamless storage ordering within the EVM ecosystem and greatly improves interaction efficiency.
“It is fantastic to have the DWF Labs team focusing on the coming Crust ecosystem and lending their expertise and capital to the launch of Crust’s EVM Storage ” — Luke Fan, Crust Network CTO.
“We are thrilled to support Crust’s vision of revolutionizing decentralized storage by providing a secure, scalable, and interoperable platform for data storage and retrieval across multiple chains. We are excited to bring our expertise and capital to the launch of the coming Crust’s EVM Storage and see great potential in the more than 150 projects currently building on Crust Network. We look forward to seeing Crust’s continued success within Web3 Storage.” — Andrei Grachev, Managing Partner of DWF Labs.
A total of 65 Web3 projects, including Uniswap and AAVE, have already started using Crust for storage, and have recently launched on the mainnet. Crust Network also utilizes the XCMP protocol as a parachain in the Polkadot ecosystem, serving projects such as Moonbeam, Astar, Oak Network and more.
About Crust
Crust Network is a decentralized cloud storage protocol designed to incentivize the creation of storage orders and usage of storage nodes on the IPFS network. Crust Network is one of the largest decentralized storage systems, capable of hosting various websites, decentralized applications, NFTs, and personal files with ease.
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About DWF Labs
DWF Labs is the global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listing to market making to OTC trading solutions.
With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea and BVI, the investment company DWF Labs is an affiliate of Digital Wave Finance (DWF), which consistently ranks among the top 5 trading entities by volume in the cryptocurrency world through its proprietary technology for high frequency trading.
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