Conflux to deploy Uniswap v3 on Blockchain
Conflux, a regulatory-compliant public blockchain based in China, wants to deploy Uniswap v3 on its network. This move is aimed at offering millions of potential new users access to the popular decentralized exchange, especially in China and Asian markets. According to Conflux, the network experienced an increase in traffic in the first quarter of 2023, and the rollout of Uniswap v3 would be an important milestone in the platform’s development.
The rollout of Uniswap v3 on Conflux will also provide incentives for projects that build on top of the platform. Specifically, the creation of liquidity pools for CFX token trading pairs, including CFX-USDT, CFX-BTC and CFX-ETH, with a total value of $2 million locked in for two years. The Conflux Foundation would also provide $1 million in liquidity incentives.
In addition to the potential market reach and incentives, Conflux is partnering with China Telecom to develop a blockchain SIM card. This blockchain SIM (BSIM) will provide a secure place to store digital private keys, and users can call the signature to transfer money to other users. BSIM will also have a “one-click live check” feature that will enable users to check transaction information and status progress in real-time.
Conflux is convinced that the deployment of Uniswap v3 on the network will be a significant step towards expanding the platform’s reach and providing new opportunities for projects that build on top of it. In addition, the move could help strengthen the Asian crypto market in the face of regulatory interventions in the US and Europe.
According to Conflux, China is one of the most mature markets in Web3, with 84% of worldwide blockchain applications being submitted to the country compared to 11% and 14% in the UK and US respectively. The blockchain platform believes that exposure to the Chinese market is important for all projects, and regulatory interventions in the US and Europe can further strengthen the growth of the crypto industry in Asian markets.
Ambre Soubiran, CEO of institutional crypto market data provider Kaiko, shares a similar view, noting that Hong Kong is becoming an increasingly important center for trading and investing in crypto assets due to its more favorable regulatory environment. Over 80 crypto companies are reportedly planning to set up an office in Hong Kong, which could provide a crypto bridge to mainland China.
In conclusion, Conflux’s decision to deploy Uniswap v3 on the network could bring significant benefits to the platform, as well as to the wider Asian crypto market. The move will provide access to millions of potential new users and provide incentives for projects that build on top of the platform, while the partnership with China Telecom to develop a blockchain SIM card could offer new opportunities for secure transactions and real-time tracking of transaction information.
