DWF Labs: market maker deal terms and record
DWF Labs buys tokens at a 5-15% discount to the market and bundles market making with the purchase, which makes it closer to an OTC desk than a classic market maker. The Wall Street Journal reported about $300M in suspected wash trades in 2023; that is a press report, not a court or regulator finding.
Press reports, no findingPublic deals on record: 1. · Official site
Profile
| Headquarters | Abu Dhabi |
| Founded | 2022 |
| Deal models | discounted token purchase (venture-style), bundled with MM |
| Exchange coverage | 60+ |
| Notes | Claims 1000+ projects supported and ~35% of top-1000 tokens by market cap. Functions closer to an OTC desk than a classical MM. |
| Legal record | WSJ reported ~$300M in suspected wash trades in 2023. On-chain analysts linked DWF-associated wallets to a 92% crash in ESPORTS. Structural conflict: buys discounted tokens then supplies the liquidity it trades into. |
Source: www.spark.money, grade 3, checked 2026-09-10.
Public deals
various (470+ claimed), 2022-2024
| Structure | discounted liquid token purchase, packaged with market making |
| Size | varies |
| Term | 1-3 months |
| Option | n/a - buys at 5-15% discount to prevailing market price |
| Details | Purchases in daily tranches of ~$100,000-150000 over one to a few months, priced at each day's open minus the discount. Often bundled with locked-token investment and MM. |
| Source | Trade press, grade 4, checked 2026-09-10 |
How market-maker deals usually look
The industry default is a token loan plus a call option. Across about 40 public DAO deals, loans ran at 1% to 5% of circulating supply for 12 to 24 months, with the strike set 25% to 100% above the TGE price, median 50% (WuBlockchain and the Wallfacer deal tracker, grade 4). A second source puts loans at 0.5% to 2% of supply; we show both, because the market has no agreed norm.
Want to see what an option is worth to the desk? Try the option calculator, or read our sample term sheet review. How rarely launches disclose these deals at all: 4 of 57.
Offered terms by DWF Labs or another desk? We put your term sheet next to the public deals, value the option and list the clauses to negotiate, in writing within 48 hours.
Allegations are reported as allegations, with the outcome where one exists. A written comparison against public data, not legal or investment advice. We take no money from market makers.