DWF Labs Doubles Down on Conflux With $28 Million Invested
June 28, 2023 – Hong Kong, China
DWF Labs, the global digital asset market maker and multi-stage Web 3.0 investment firm, has further strengthened its commitment to support the growth of Conflux, the tree-graph consensus algorithm layer one blockchain.
Conflux has been gaining significant traction since February 2023 on the back of some key partnerships, including the signature collaboration with China Telecom announced on February 15, 2023, with the goal of developing a BSIM (blockchain SIM) card that was first unveiled in May.
DWF Labs recently purchased $18 million in CFX token, cementing the long-term relationship between the investment firm and Conflux.
This follows DFW Labs buying $10 million worth of CFX tokens in March 2023.
More recently, Conflux joined Hong Kong’s Web 3.0 Institute, participated in the Singapore Digital Economy Roundtable organized by the Singaporean government and led the drafting of IEEE P3217 an international blockchain standard by the Institute of Electrical and Electronics Engineers.
In addition, Conflux announced key partnerships including the following.
- Supremacy Web 3.0 security platform
- 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 two solution that supports parallel execution
- Opside decentralized ZK-RaaS network featuring PoW of ZKP mining
DWF Labs has made significant contributions to placing Conflux on the global stage.
Since then, Conflux has established ecosystem partnerships with Floki, Worldcoin, Blockbank, Luganodes, AirDAO, Mask and OpenEden, with a growing list of ongoing partnerships being discussed.
Conflux and DWF Labs have also co-hosted multiple events, including those organized in Hong Kong, Tokyo and Paris.
Fan Long, co-founder of Conflux Network, said,
“Conflux Network has experienced exponential growth since the start of 2023, pioneering advances in the Chinese NFT market and establishing fresh Web 3.0 access through the BSIM card project with China Telecom. DWF Labs is one of the key supporters of Conflux.
“This infusion of capital not only strengthens our bond but also acts as a catalyst for our shared ambition to expand the Conflux ecosystem. Conflux plans to leverage the raised funds to further fuel its ecosystem growth in Asia and Hong Kong, empower burgeoning developer communities and bring an increasing number of real-world assets onto the Conflux chain.”
Andrei Grachev, managing partner of DWF Labs, said,
“We take great pride in our role as supporters of Conflux throughout its remarkable growth trajectory. It exemplifies our commitment to backing projects with immense potential and providing the necessary support to fill in the missing pieces of the Web 3.0 puzzle.
“Our deep understanding of the crypto market has served as a compass for Conflux, allowing it to fully express its potential on the global stage. We are delighted to have played a part in Conflux’s journey towards success.”
About Conflux
Conflux is a permissionless layer one blockchain connecting decentralized economies across borders and protocols.
Recently migrated to a hybrid PoW/PoS consensus, Conflux provides a fast, secure and scalable blockchain environment with zero congestion, low fees and improved network security.
As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia.
Conflux has collaborated with global brands and government entities in the region on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China and Oreo.
About DWF Labs
DWF Labs is the global digital asset market maker and multi-stage Web 3.0 investment firm supporting portfolio companies from token listing to market making to OTC trading solutions.
With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea and BVI, the investment company DWF Labs is an affiliate of DWF (Digital Wave Finance), which consistently ranks among the top five trading entities by volume in the cryptocurrency world through its proprietary technology for high-frequency trading.
Contact
Melissa Tirey, Conflux
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