Conflux Sets Its Sights on Uniswap v3
In a groundbreaking proposal revealed on April 7, 2023, Conflux, a public blockchain championing regulatory compliance in China, plans to launch Uniswap v3 on its network. This comes just after the Uniswap v3 code license expired, which now permits developers to fork the protocol and launch their own decentralized exchanges. Who says a good idea has to stay unshared?
A New Frontier for Users and Developers
Conflux claims that by deploying Uniswap v3, the platform could potentially tap into millions of new users, particularly in the vast and somewhat untapped Asian markets. With traffic on the Conflux blockchain visibly increasing in early 2023, they seem to be riding the wave of momentum.
- Market Stats:
- Market Cap: Nearly $1 billion
- Total Value Locked On-chain: $45 million
China alone submits a staggering 84% of worldwide blockchain applications. In contrast, the UK and the U.S. barely scrape by with 11% and 14%, respectively. Talk about a power move!
The Ripple Effects of Regulatory Changes
Amidst regulatory crackdowns in the U.S. and Europe, there’s a silver lining — a boon for crypto businesses in Asia. Conflux suggests that with over 80 crypto companies scouting for office space in Hong Kong, there’s a clear bridge to mainland China in sight!
“The U.S. being more stringent these days than ever on crypto and Hong Kong regulating in a more favorable way will clearly shift the center of gravity of crypto assets trading and investments towards Hong Kong,” said Ambre Soubiran, CEO of Kaiko.
Incentives for Developers: A Sweet Deal
Beyond the buzz of reaching new markets, there are tasty incentives for developers aiming to build on Uniswap v3 within the Conflux ecosystem. They are offering a whopping $2 million to create liquidity pools focused on CFX token trading pairs:
- CFX-USDT
- CFX-BTC
- CFX-ETH
To make things even sweeter, the Conflux Foundation is throwing in an additional $1 million in liquidity incentives. Sounds like a party!
What’s Next for Conflux?
The future looks bright for Conflux as it embraces innovative approaches. Recently, they announced a partnership with China Telecom to launch a blockchain SIM (BSIM) card. Not just a catchy name, this BSIM will offer a secure storage solution for digital private keys while allowing users to effortlessly transfer money to others with a snap of a finger!
The one-click direct check feature will allow users to monitor transaction statuses in real-time, making blockchain transactions as easy as, well, pie!
In the cutthroat world of crypto, it’s clear that Conflux is aiming to not just keep pace but to lead the charge in this digital frontier. The market is changing, and Conflux seems determined to ride the wave into uncharted waters.
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