Crust Network Secures Seven-Figure Funding from DWF Labs to Revolutionize Decentralized Storage
Crust Network, a decentralized storage network, has recently received a substantial seven-figure funding from DWF Labs, marking a significant milestone for the company. This long-term financial support will enable Crust Network to bolster its infrastructure and expand its operations in the decentralized storage space, further solidifying its position as a leading player in the industry.
The timing of this funding is crucial for Crust Network, as it gears up to launch its EVM Storage, a cutting-edge technological advancement that supports Omnichain. With the introduction of this new module, Crust Network aims to seamlessly extend its Crust Storage Protocol across the entire EVM ecosystem, encompassing the Crust mainnet, Polkadot parachains, and EVM contracts. This integration will provide a streamlined decentralized storage solution for all EVM-based blockchains, making decentralized storage more accessible and user-friendly within the EVM ecosystem.
🎉 Big news! Crust Network, the decentralized cloud storage protocol, has secured seven-figure funding from @DWFLabs !
🔜 Exciting things are coming! Mark your calendars for July 17th when EVM Storage goes live.
Stay tuned for the next level of storage innovation! 💪 pic.twitter.com/m710a6LKcw
— Crust Network (@CrustNetwork) July 10, 2023
The implementation of the new storage contract and the Omnichain mechanism represent a significant leap forward for Crust Network. While the platform was previously capable of providing cross-chain storage for other networks, these enhancements elevate its capabilities to new heights. They facilitate smooth storage ordering within the EVM ecosystem and greatly improve interaction efficiency, positioning Crust Network as a reliable and efficient decentralized storage solution.
Luke Fan, the CTO of Crust Network, expressed his enthusiasm for the support provided by DWF Labs, stating, “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.” This collaboration with DWF Labs, a global digital asset market maker and multi-stage Web3 investment firm, will undoubtedly strengthen Crust Network’s position in the market.
Andrei Grachev, the Managing Partner of DWF Labs, also shared his excitement about supporting Crust Network’s vision of revolutionizing decentralized storage. Grachev emphasized the potential of Crust Network’s platform, stating, “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.”
Crust Network’s credibility and appeal are evident from the fact that 65 Web3 projects, including popular platforms like Uniswap and AAVE, have already chosen Crust for their storage needs and have recently launched on the mainnet. Additionally, Crust Network serves as a parachain in the Polkadot ecosystem, utilizing the XCMP protocol and supporting projects such as Moonbeam, Astar, Oak Network, and more.
Crust Network, with its decentralized cloud storage protocol, is making significant strides in incentivizing storage orders and promoting the usage of storage nodes on the IPFS network. Its extensive capabilities enable the hosting of various websites, decentralized applications, NFTs, and personal files with ease. With the support from DWF Labs, Crust Network is well-positioned to further strengthen its position as a leader in the decentralized storage space.
DWF Labs, as a global investment company, has proven expertise in the digital asset market and offers comprehensive support to portfolio companies ranging from token listing to market making and OTC trading solutions. With offices in key locations worldwide, including Singapore, Switzerland, the UAE, Hong Kong, South Korea, and BVI, 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. DWF Labs’ backing signifies the trust and confidence in Crust Network’s potential to revolutionize decentralized storage.
As Crust Network continues to innovate and expand its operations, the future looks promising for the company and the decentralized storage industry as a whole. With its strong financial backing and technological advancements, Crust Network is set to make a lasting impact in the world of decentralized storage, providing users with secure, scalable, and interoperable storage solutions across multiple chains.
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