DWF Labs vote of confidence to the WavesDAO project sends WAVES price up 91%

• WavesDAO is a For-Profit DAO on the Power Protocol platform aimed to support the development of Waves Blockchain-based projects.
• Market maker DWF Labs has committed 500K WAVES to the WavesDAO project.
• The WavesDAO is seeking to channel a third of Waves miners’ rewards into the Waves DAO during the initiation period.

WAVES price has hit a daily high of $2.82 today after a 91.23% price surge in 24 hours. While the surge caught most crypto traders by surprise, the price movement was coming seeing that global digital asset market maker and web3 investment firm DWF labs had shown commitment to the WavesDAO project.

DWF Labs, on June 22, announced its support for the launch of WavesDAO by committing 500K WAVES to Waves staking and voting to support the WavesDAO project. DWF Labs’ participation in the DAO initiative will go a long way in empowering developers to build on the Waves Blockchain.

What is WavesDAO?

WavesDAO is a For-Profit decentralized organization (DAO) on the Power Protocol platform aimed to support the development of Waves Blockchain-based projects and other initiatives.

Essentially, a governor is expected to have a minimum of 1 PWR to participate in the DAO and 100 PWR staked for the initiation of a proposal to succeed.

At the moment, WavesDAO is seeking to channel a third of Waves miners’ rewards into the Waves DAO. However, this proposal needs to be approved by Waves miners and stakers through on-chain voting.

WavesDAO stands as a pioneering decentralized autonomous organization on the Power Protocol platform. It will be managed by PWR token stakers, which makes it an investment vehicle for the community.