Following efforts to support the rapid expansion of Conflux, a tree-graph consensus algorithm Layer-1 blockchain, DWF Labs has reaffirmed its commitment by purchasing $18 million worth of CFX tokens, the company announced via an official release today.
Following a previous acquisition of $10 million in CFX tokens earlier this year, this investment solidifies the longstanding partnership between DWF Labs and Conflux, positioning both entities at the forefront of the global digital asset market.
Andrei Grachev, Managing Partner of DWF Labs, underscored the firm’s unwavering commitment to backing projects with immense potential. Grachev praised Conflux’s success and acknowledged the crucial role played by DWF Labs in enabling the platform to showcase its capabilities on the global stage. DWF Labs has provided valuable insights and expertise as supporters and strategic advisors, serving as a compass for Conflux’s growth.
Conflux’s Ecosystem to See Further Growth in Asia and Beyond
Conflux has experienced remarkable growth since the beginning of 2023, propelled by key collaborations and partnerships. Notably, the blockchain platform joined Hong Kong’s Web3 Institute and actively participated in the Singapore Digital Economy Roundtable, organized by the Singaporean government. Furthermore, Conflux played a leading role in drafting IEEE P3217, an international blockchain standard established by the prestigious Institute of Electrical and Electronics Engineers. Other key partner collaborated with include, Web3 security platform Supremacy; dappOS, an operating protocol that manages crypto infrastructures for users; NuLink, a privacy-preserving technology that provides APIs for decentralized applications; Smooth Labs, developing the Layer 2 solution that supports parallel execution; and Opside, a decentralized ZK-RaaS network featuring PoW of ZKP mining.
Conflux’s hybrid Proof-of-Work/Proof-of-Stake (PoW/PoS) consensus mechanism ensures a fast, secure, and scalable blockchain environment with zero congestion, low fees, and enhanced network security. As the only regulatory-compliant public blockchain in China, Conflux holds a unique advantage for projects seeking to expand into Asia. The platform has already forged collaborations with renowned global brands and government entities, including McDonald’s China, the city of Shanghai, and Oreo, in various blockchain and metaverse initiatives.
The recent infusion of capital by DWF Labs will further accelerate Conflux’s ecosystem growth in Asia, with a particular focus on Hong Kong. These funds will empower the flourishing developer communities, foster strategic partnerships, and pave the way for the integration of real-world assets into the Conflux chain.
With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea, and the British Virgin Islands, DWF Labs, a global digital asset market maker and multi-stage Web3 investment firm, is a key player in cryptocurrency. Leveraging its expertise and proprietary technology for high-frequency trading, DWF Labs supports portfolio companies throughout their journey, offering comprehensive services from token listing to market making and OTC trading solutions.
Fan Long, Co-Founder of Conflux Network, expressed his enthusiasm for the continued support from DWF Labs, emphasizing the instrumental role played by the investment firm in Conflux’s exponential growth trajectory. Long highlighted Conflux’s groundbreaking advancements in the Chinese NFT market and the revolutionary Web3 access facilitated through the collaboration with China Telecom on the blockchain SIM (BSIM) card project. The Co-Founder expressed gratitude for the latest capital injection, which will serve as a catalyst for expanding the Conflux ecosystem.
