Conflux to bring Uniswap v3 and Curve to China’s public blockchain
Toronto, Canada –News Direct– Chainwire
Conflux, the only regulatory blockchain in China, has proposed to deploy Uniswap v3 on the network alongside the CNH (offshore Chinese Yuan) stablecoin, joining the Curve Wars with its mainnet token CFX connected to the Ethereum mainnet, known as eCFX. This proposal comes after Binance’s announcement that it will support Conflux Network’s (CFX) mainnet integration. The hope is to attract more initiatives, establish liquidity pools to facilitate the exchange of CFX tokens, and implement incentives that promote liquidity, ultimately increasing the network’s value and usage.
By deploying Uniswap v3 on the Conflux eSpace, the Uniswap community gains access to a wider range of trading opportunities with both USD and CNHC based pairs. This development is particularly timely in light of regulatory restrictions facing USD-based stablecoins. Furthermore, projects that operate in currencies other than USD will greatly benefit from this deployment, especially Asian projects that can now use CNH for settlement without worrying about currency fluctuations.
Conflux has chosen to participate in a very intricate Defi ecosystem in parallel, aiming to draw the attention of ETH DeFi players. Conflux’s cross-chain $CFX on Ethereum, $eCFX, offers a liquidity pair with ETH on Curve. Following an on-chain vote by Curve DAO, Curve Pool (eCFX-ETH) has been officially approved and added to the Curve Gauge. You can find the voting results here: https://dao.curve.fi/vote/ownership/312.
Furthermore, the aforementioned pool is now available for staking on Conflux, allowing DeFi users to operate deeper within the Curve ecosystem. While Curve has been deployed on several other networks in the past, none of those networks initially launched a pool on Curve (Ethereum) before welcoming Curve to their platform. Conflux’s choice to do so indicates their efforts to establish contact with the Curve community while on Ethereum and offer a new Curve pool for Asian DeFi projects ahead of a possible launch of Curve on the Conflux eSpace.
The intersection of US and EU regulatory barriers to blockchain and the recent supportive blockchain regulations in Hong Kong underscores how crucial the Chinese market is to the development of Web3 projects.
Over 84% of global blockchain applications have been filed in China, outstripping filings in the UK (11%) and the US (14%), confirming that China represents one of the most innovative markets in Web3.
“By integrating eCFX with the Curve ecosystem, our team aims to demonstrate a strong commitment to robust DeFi,” says Christian Oertel, Global Expansion Manager. “As Uniswap prepares to launch Conflux, more tokens developed by Asia-based teams will be incentivized to build bridges into this burgeoning ecosystem. Once Conflux reaches an appropriate scale, our team plans to implement Curve Finance, bringing the efficient stablecoin AMM -the giant of Asia’s own DeFi-centric blockchain.”
About Conflux Network
Conflux is a permissionless Layer 1 blockchain that connects 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 public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has partnered with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China and Oreo.
Contact information
Melissa Tirey
See the source version on newsdirect.com:
