DWF Labs, a prominent Web3 firm, has invested in Bidask Protocol and entered into a strategic partnership aimed at enhancing the decentralized finance (DeFi) ecosystem on The Open Network (TON) blockchain.
Notably, the partnership was announced on February 12 by Bidask Protocol in a celebratory post on X.
The partnership marks a significant step for Bidask, a decentralized exchange focused on concentrated liquidity, as it seeks to improve the trading experience on TON.
Significantly, the collaboration will introduce advanced trading features, including on-chain limit orders and customizable liquidity provision, while enhancing trading activity speed.
Bidask Protocol and DWF Labs: Investment and Market Making Potential
Beyond financial backing, the partnership allows for the potential integration of DWF Labs as a market maker on Bidask Protocol’s platform. This could significantly boost liquidity, providing users with smoother and more efficient trading conditions.
“Our partnership with DWF Labs opens up new horizons for us. As a technical team, we can fully focus on product development, confident that our efforts are supported by a market-making industry leader. This collaboration is an important step towards achieving our strategic goals,” said Bazrov Stepan, chief technology officer of Bidask Protocol.
DWF Labs’ involvement highlights its commitment to fostering innovation within the TON ecosystem. The firm’s expertise and resources will support Bidask Protocol’s efforts to build a cutting-edge DeFi platform that sets new industry standards.
Key Features of Bidask v2
A standout innovation in Bidask Protocol’s next version, Bidask v2, is a newly designed smart contract architecture tailored for the TON ecosystem.
Notedly, this upgrade aims to minimize network congestion while significantly increasing the protocol’s throughput capacity, resulting in a more scalable and efficient trading experience.
Bidask Protocol’s commitment to professional traders is evident through its focus on advanced tools, including improved trading speed, enhanced pool throughput, and sophisticated position management.
Broader Ecosystem Development
The collaboration extends beyond market making, with both entities working to support the broader TON DeFi ecosystem. The partnership includes initiatives such as early-stage project support, grants, and advisory services to drive further innovation in the space.
