Toronto, Canada – News Direct – Chainwire
Conflux, the only lawful blockchain in China, has proposed deploying Uniswap v3 on its network alongside the stable currency CNH (offshore Chinese yuan) and joining the curve wars with its mainnet token CFX, which is associated with the Ethereum mainnet as eCFX. This proposal follows Binance’s announcement of support for Conflux Network (CFX) mainnet integration. The hope is to attract more initiatives, establish liquidity pools to facilitate CFX token exchanges, and implement incentives that encourage liquidity and ultimately increase the value and usage of the network.
The deployment of Uniswap v3 on Conflux eSpace will give the Uniswap community access to a wider range of trading opportunities in USD and CNHC based pairs. This development comes especially timely given the regulatory restrictions USD-based stablecoins face. Additionally, projects operating in currencies other than USD will greatly benefit from this deployment, particularly Asian projects which can now use CNH for billing without worrying about currency fluctuations.
Conflux has chosen to participate in a highly complex DeFi ecosystem in parallel, aiming to attract the attention of ETH DeFi players. Conflux’s cross-linked $CFX on Ethereum, $eCFX, offers a liquidity pair with ETH on Curve. After an on-chain vote by the Curve DAO, the Curve pool (eCFX-ETH) was officially approved and added to the Curve Gauge. The voting results can be found here: https://dao.curve.fi/vote/ownership/312.
Additionally, the aforementioned pool is now available for staking on Conflux, allowing DeFi users to trade deeper into the Curve ecosystem. While Curve has already been deployed on several other networks, none of these networks initially launched a pool on Curve (Ethereum) before welcoming Curve to their platform. Conflux’s decision to do so shows their efforts to connect with the Curve community on Ethereum and offer a new Curve pool for Asian DeFi projects ahead of a potential Curve launch on Conflux eSpace.
The story goes on
The overlap of US and EU blockchain regulatory barriers and recent supportive blockchain regulations in Hong Kong underscore the importance of the Chinese market for Web3 project development.
Over 84% of global blockchain applications were filed in China, dwarfing those in the UK (11%) and US (14%), confirming that China represents one of the most innovative markets on the Web3.
“By integrating eCFX into the Curve ecosystem, our team aims to demonstrate a strong commitment to resilient DeFi,” says Christian Oertel, Global Expansion Manager. “As Uniswap prepares to launch on Conflux, more tokens developed by Asia-based teams will be incentivized to build bridges into this burgeoning ecosystem. Once Conflux reaches a reasonable size, our team plans to deploy Curve Finance natively and integrate the efficient stablecoin AMM giant with Asia’s own DeFi-centric blockchain.”
Via the Conflux network
Conflux is a permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols. Recently transitioning to hybrid PoW/PoS consensus, Conflux offers a fast, secure, and scalable blockchain environment with no congestion, low fees, and enhanced network security.
As the only lawful public blockchain in China, Conflux offers a unique advantage for building and expanding projects 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.
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Melissa Tirey
View source version on newsdirect.com: https://newsdirect.com/news/conflux-to-bring-uniswap-v3-and-curve-to-chinas-public-blockchain-878801033
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