Hong Kong, China, June 28th, 2023 – DWF Labs, the renowned global digital asset market maker and multi-stage Web3 investment firm, has reaffirmed its robust commitment to Conflux, the revolutionary tree-graph consensus algorithm Layer-1 blockchain. Conflux has been gaining impressive momentum since February 2023 due to several key partnerships. One of these partnerships includes a significant collaboration with China Telecom announced on February 15th aimed at developing a pioneering blockchain SIM (BSIM) card that was first unveiled in May.
DWF Lab’s Investment in Conflux
In recent developments, DWF Labs purchased $18M in CFX tokens further cementing the long-term relationship between the investment firm and Conflux. This substantial investment follows the earlier acquisition by DFW Labs of $10M worth of CFX tokens in March 2023. It is evident that DWF Labs has played an instrumental role in elevating Conflux’s global prominence.
The two entities have also co-hosted numerous events across major cities like Hong Kong, Tokyo, and Paris, highlighting their close collaboration.
Impact of Investment on Conflux Ecosystem Growth
Conflux intends to leverage this significant funding to bolster its ecosystem growth across Asia and Hong Kong. The focus will be on empowering burgeoning developer communities and bringing an increasing number of real-world assets onto the Conflux chain.
Andrei Grachev, Managing Partner of DWF Labs stated: “We take great pride in our role as supporters of Conflux throughout its remarkable growth trajectory.”
Advantages of the Hybrid PoW/PoS Consensus
Recently migrated to a hybrid PoW/PoS consensus mechanism, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion and low fees. This improved network security ensures that it remains one of the most reliable public blockchains available today.
As the only regulatory-compliant public blockchain in China, it offers a unique advantage for projects seeking expansion into Asia. The platform has already collaborated with global brands such as McDonald’s China and Oreo as well as government entities like the city of Shanghai on various blockchain initiatives including metaverse initiatives.
About DWF Labs
DWF Labs is a global digital asset market maker and multi-stage Web3 investment firm that provides comprehensive support for portfolio companies from token listing to market making to OTC trading solutions.
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