Hong Kong, China, June 28th, 2023, Chainwire

 

DWF Labs, the global digital asset market maker, and multi-stage Web3 investment firm, has further strengthened its commitment to support the growth of Conflux, the tree-graph consensus algorithm Layer-1 blockchain. Conflux has been gaining significant traction since February 2023 on the back of some key partnerships, including the signature collaboration with China Telecom announced on February 15th, with the goal of developing a blockchain SIM (BSIM) card that was first unveiled in May.

DWF Labs recently purchased $18M in CFX token, cementing the long-term relationship between the investment firm and Conflux. This follows DFW Labs buying $10M worth of CFX tokens in March 2023.

More recently, Conflux joined Hong Kong’s Web3 Institute, participated in the Singapore Digital Economy Roundtable organized by the Singaporean Government, and led the drafting of IEEE P3217, an international blockchain standard by the Institute of Electrical and Electronics Engineers. In addition, Conflux announced key partnerships including:

  • Supremacy – Web3 security platform
  • dappOS – an operating protocol that manages crypto infrastructures for users
  • NuLink – a privacy-preserving technology that provides APIs for decentralized applications
  • Smooth Labs – developing the Layer 2 solution that supports parallel execution
  • Opside – a decentralized ZK-RaaS network featuring PoW of ZKP mining

DWF Labs has made significant contributions to placing Conflux on the global stage. Since then, Conflux has established ecosystem partnerships with Floki, Worldcoin, Blockbank, Luganodes, AirDAO, Mask, and OpenEden, with a growing list of ongoing partnerships being discussed. Conflux and DWF Labs have also co-hosted multiple events, including those organized in Hong Kong, Tokyo, and Paris.

Fan Long, Conflux Network’s Co-Founder, stated: “Conflux Network has experienced exponential growth since the start of 2023, pioneering advances in the Chinese NFT market and establishing fresh Web3 access through the BSIM card project with China Telecom. DWF Lab is one of the key supporters of Conflux. This infusion of capital not only strengthens our bond, but also acts as a catalyst for our shared ambition to expand the Conflux ecosystem. Conflux plans to leverage the raised funds to further fuel its ecosystem growth in Asia and Hong Kong, empower burgeoning developer communities, and bring an increasing number of real-world assets onto the Conflux chain.”

The Managing Partner of DWF Labs, Andrei Grachev stated: “We take great pride in our role as supporters of Conflux throughout its remarkable growth trajectory. It exemplifies our commitment to backing projects with immense potential and providing the necessary support to fill in the missing pieces of the Web3 puzzle. Our deep understanding of the crypto market has served as a compass for Conflux, allowing it to fully express its potential on the global stage. We are delighted to have played a part in Conflux’s journey towards success.”

About Conflux

Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols.

Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.

As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. Conflux has collaborated with global brands and government entities in the region on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.

About DWF Labs

DWF Labs is the global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listing to market making to OTC trading solutions.

With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea and BVI, the investment company 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 through its proprietary technology for high-frequency trading.

 

Contact

Melissa Tirey
conflux@shift6studios.com

You May Also Like

ASICWay release most profitable Crypto Miners

The rapidly evolving global market for cryptocurrency is currently abuzz with the…

Tide Capital: BTC Sees Volatile Upsurge, Meme Coins Start New Upward Cycle

Abstract Spot ETFs continue to bring incremental funds, and the upcoming U.S.…

Etherfuse Raises $3M to Bring Emerging Market Debt On-chain

Mexico City, Mexico, 22nd July 2024, Chainwire

Akoin Launches in USA and 10 More International Markets with Latest Exchange Listing

Akoin, the digital ecosystem and cryptocurrency developed by global artist and visionary…

Valtriora Capital Adds VTRC IA 4.0 Diagnostic Engine Under Pascal Martin’s Leadership

Valtriora Capital has announced the release of the Portfolio Diagnostic Engine, a…
walllet.com

Introducing walllet.com: a crypto wallet with no seed phrase

Industry leaders agree that user experience is the biggest barrier to crypto…

Shiba Inu ETF Speculation, Ethereum’s $4K Potential, and Furrever Token’s 10% Referral Award

  The cryptocurrency advertise is energetic and ever-evolving, with certain tokens standing…

NaaS Technology Inc. Announces Plans to Acquire Swedish Leading EV Charging Infrastructure Supplier Charge Amps for $66.4M

STOCKHOLM, AUGUST 22, 2023 – NaaS Technology Inc. (NASDAQ: NAAS), a leading electric…

RROCKET Burns 50% of Its Supply to Fuel Growth and Investor Confidence

The team behind the RROCKET project has announced the burning of 50%…

Algorand Foundation Announces Build-A-Bull Hackathon in collaboration with AWS

Singapore, Singapore, September 20th, 2023, Chainwire Registration is now open for global…