Conflux Proposes Uniswap V3 Integration
Conflux, a Layer-1 hybrid EVM-compatible blockchain, has submitted a proposal to implement Uniswap V3 on its system. The Conflux Foundation has pledged to create a $2 million liquidity pool for CFX-USDT and other currencies. It offers $1 million in liquidity incentives to support the implementation of Uniswap V3 on its rapidly expanding and permissionless network.
Conflux Aims to Tap into the Fast-Growing Ecosystem in Asia and China
Conflux’s proposal aims to tap into the fast-growing Conflux ecosystem. It reaches millions of new consumers, particularly in Asia and China. By deploying on Conflux, users can leverage the network’s growing ecosystem and potential user base. It includes over 200 million Web2 users through Little Red Book, the Chinese equivalent of Instagram.
Conflux has also unveiled a Blockchain SIM card that enables smartphones to connect securely with Web3 resources. In collaboration with China Telecom, which serves 390 million customers, Conflux intends to migrate these customers to DeFi using the Uniswap V3 rollout.
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Conflux is a Layer-1 blockchain that connects autonomous economies across jurisdictions and protocols without requiring any special permissions. The network combines Proof of Work and Proof of Stake, making it compatible with the Ethereum Virtual Machine. It has a block time of 0.5 seconds and a throughput of 3000 TPS, making it one of the fastest EVM-compatible L1s available. The network is also fortified against 51% assaults through its Finality layer, which strengthens network security.
Conflux Proposes Uniswap V3 Implementation to Expand Defi Adoption
Conflux is the first blockchain in China that is compliant with Chinese rules, in addition to having the technological capacity to compete in the market. In order to maintain regulatory compliance, it utilizes a single ledger. However, it creates two distinct partitions inside it: Core Space and eSpace. eSpace is a worldwide blockchain network that supports the same token standards as other networks. Although, Core Space is mostly used by Chinese users to interact with decentralized applications without having to deal with tokens.
Conflux’s proposal to implement Uniswap V3 on its network represents a significant step in expanding DeFi adoption in Asia and China. The network’s growing ecosystem, compatibility with the Ethereum Virtual Machine, and compliance with Chinese regulations make it an attractive option for users seeking to enter the DeFi space. The Conflux Foundation’s pledge of substantial support and incentives further demonstrates its commitment to promoting DeFi adoption on its network.
