Crypto & Blockchain News

DWF Labs Doubles Conflux with $28 Million Investment

Hong Kong, China, June 28, 2023, Chainwire

DWF Labs, a global digital asset market maker, and multi-stage Web3 investment firm, is further strengthening its commitment to supporting the growth of Conflux, the Layer-1 blockchain tree graph consensus algorithm. Conflux has gained significant traction since February 2023 on the back of several major partnerships, including a signature collaboration with China Telecom announced on February 15, with the aim of developing a blockchain SIM card (BSIM) that was first launched in May.

DWF Labs recently purchased $18 million worth of CFX tokens, strengthening the long-term relationship between the investment firm and Conflux. This follows DFW Labs purchasing $10 million worth of CFX tokens in March 2023.

Most recently, Conflux joined Hong Kong’s Web3 Institute, participated in the Singapore Digital Economy Roundtable hosted by the Singapore Government, and led the drafting of IEEE P3217, an international blockchain standard by the Institute of Electrical and Electronics Engineers. Additionally, Conflux announced key partnerships including:

  • Supremacy – Web3 security platform
  • dappOS – an operating protocol that manages crypto infrastructure for users
  • NuLink – a privacy guard technology that provides APIs for decentralized applications
  • Smooth Labs – develops Layer 2 solutions that support parallel execution
  • Optide – decentralized ZK-RaaS network featuring ZKP mining PoW

DWF Labs has made significant contributions to putting Conflux on the global stage. Since then, Conflux has forged ecosystem partnerships with Floki, Worldcoin, Blockbank, Luganodes, AirDAO, Mask, and OpenEden, with a list of ongoing partnerships in discussion. Conflux and DWF Labs have also hosted several events, including those in Hong Kong, Tokyo, and Paris.

Fan Long, Co-Founder of Conflux Network, stated: “Conflux Network has experienced exponential growth since early 2023, pioneering progress in China’s NFT market and establishing new Web3 access through its BSIM card project with China Telecom. DWF Lab is one of the main supporters of Conflux. This capital infusion has not only strengthened our ties, but has also acted as a catalyst for our shared ambition to expand the Conflux ecosystem. Conflux plans to leverage the funds raised to further fuel the growth of its ecosystem in Asia and Hong Kong, empower the growing community of developers, and bring an increasing number of real-world assets to the Conflux chain.”

DWF Labs Managing Partner Andrei Grachev stated: “We are extremely proud of our role as a supporter of Conflux throughout its incredible growth trajectory. This exemplifies our commitment to supporting projects with great potential and providing the support needed to fill in missing pieces of the Web3 puzzle. Our deep understanding of the crypto market has served as a compass for Conflux, enabling it to express its full potential on the global stage. We are delighted to have played a role in Conflux’s journey to success.”

About Conflux

Crowds is a permissionless Layer 1 blockchain that connects a decentralized economy 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 greater network security.

As the only regulatory-compliant public blockchain in China, Conflux provides unique advantages for project development and expansion 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 Laboratory is a global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listings to market creation to OTC trading solutions.

With offices in Singapore, Switzerland, UAE, Hong Kong, South Korea and BVI, investment firm DWF Labs is an affiliate of Digital Wave Finance (DWF), which consistently ranks among the top 5 trading entities by volume in the world of cryptocurrency through technology. hers for high frequency trading.


Melissa Tirey

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