Hong Kong, April 2023 -SAVA Investment Management, a licensed fund manager registered in the Cayman Islands and British Virgin Islands, has partnered with Coinweb to buy back 6% of the total supply of CWEB tokens.
Coinweb, a layer two cross-chain computation platform, has been in development since 2017. Some of the founders, early contributors, and previous team members who are no longer actively involved in the project have agreed to sell their holdings.
Johan Ditz Lemche, Managing Director of SAVA Investment Management, said “We are delighted to support and invest in Coinweb. The project has shown tremendous progression its technology and well-developed business strategy. We recognise Coinweb’s resilience and dedication to innovation within the current environment of the digital asset space.”
Toby Gilbert, CEO & Co-Founder, expressed his satisfaction with the partnership and explained that the tokens will be used for continued ecosystem build-out, as the project moves to full production readiness in anticipation of the mainnet launch. “We are proud to announce this strategic partnership. SAVA understands and is aligned with our core values. This is a significant vote of confidence during this challenging period. The remaining founding members and I are extending both the lockup and vesting period of our own tokens to show our long-term commitment to the project and give a strong signal to our community.”
In 2022 Coinweb released a cross-chain tokenization platform; LinkMint, a native marketplace; DeconX, and a multi-tenancy wallet. The blockchain-agnostic protocol lowers the barrier to entry for large enterprises while ensuring the continuity of the liveness of these projects.
About Coinweb:
The Coinweb Protocol is a platform used to run decentralised applications on top of multiple different blockchains using them as one. This allows developers of applications to combine the best properties and functionalities of each blockchain.
Coinweb Labs is a design and build consultancy service that creates custom-built and turnkey solutions for decentralised applications interacting with Web3. Coinweb Labs is responsible for building third-party projects on top of the Coinweb protocol and incubating new projects.
For more information, visit coinweb.io
CONTACT INFORMATION:
Ain Mohd +66 6143 28757
Ain At Coinweb.io
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
