DWF Labs has recently completed a significant transaction by depositing the final 24 million $JASMY tokens, valued at $731,000, to Binance. This move is a crucial step in their one-year contract as a market maker for Jasmy-MGT, which is due to expire in August.
Over the past year, DWF Labs has been actively involved in managing $JASMY tokens. On June 26, 2023, they sold 700 million JASMY tokens on Gate.io at a rate of $0.004384 per token. Following this, the Jasmy Deployer sent an equivalent amount to the centralized exchange (CEX).
The strategic transfer of these tokens to Binance by DWF Labs is noteworthy, as they were able to achieve this at an average cost per token of $0.01788, resulting in a 308% rise in the token’s value over the course of a year.
These transactions demonstrate DWF Labs’ effectiveness in handling and enhancing the value of JASMY tokens. It is evident that their role as a market maker has greatly benefited the token in the market.
As their contract is approaching expiration in August, it will be interesting to see how the management of $JASMY tokens will be handled. The activities carried out by DWF Labs over the past year showcase their ability to manage a significant number of tokens and capitalize on market opportunities.