Conflux’s Plan to Implement Uniswap v3 and Establish a $2M Liquidity Pool for CFX Pairs

Conflux Proposes Deploying Uniswap v3 and Setting Up $2M Liquidity Pool for CFX Pairs

Conflux, a regulatory-compliant public blockchain based in China, has submitted a proposal on Uniswap’s governance forum to deploy Uniswap v3 on its network following the expiration of the Uniswap v3 code license on April 1. The proposal aims to provide access to millions of potential new users, particularly in the Chinese and Asian markets.

The Importance of Chinese Market for Web3

Conflux highlights that China is one of the most mature markets in Web3, with 84% of worldwide blockchain applications submitted in China, compared to 11% in the UK and 14% in the US. The proposal emphasizes that exposure in China is important for all projects, and Conflux believes that deploying Uniswap v3 on its network would help increase its market reach in the region.

Regulatory Crackdowns and Asian Market Growth

Conflux also notes that regulatory crackdowns in the United States and Europe could potentially benefit the growth of the crypto industry in Asian markets. Over 80 crypto companies are reportedly planning to establish an office in Hong Kong, which Conflux sees as providing a crypto bridge to mainland China. Ambre Soubiran, CEO of institutional crypto market data provider Kaiko, shares a similar view, stating that Hong Kong’s more favorable regulatory environment compared to the US could shift the center of gravity of crypto assets trading and investments towards Hong Kong.

Incentives for Projects Building on Uniswap v3 on Conflux Network

In addition to potential market reach, Conflux is offering incentives for projects building on top of Uniswap v3 on its network. This includes the creation of liquidity pools for CFX token trading pairs, specifically CFX-USDT, CFX-BTC, and CFX-ETH, worth $2 million and locked for two years. The Conflux Foundation is also providing $1 million in liquidity incentives.

About Conflux

Conflux is a layer-1 blockchain that operates using a hybrid proof-of-work and proof-of-stake mechanism. The network recently announced a partnership with China Telecom to develop a blockchain SIM (BSIM) card, which will offer a secure place to store digital private keys and enable users to transfer money to other users. The BSIM will also have a “one-click direct check” functionality for real-time transaction information and status progress.

In conclusion, Conflux’s proposal to deploy Uniswap v3 on its network and set up a $2 million liquidity pool for CFX pairs aims to tap into the potential of the Chinese and Asian markets, as well as provide incentives for projects building on its network. The move comes amid regulatory crackdowns in the US and Europe, which Conflux sees as an opportunity for the growth of the crypto industry in Asian markets.