u.today
Conflux (CFX), the fast-rising blockchain protocol dubbed China's MATIC, has unveiled plans to deploy Uniswap V3 as it seeks another avenue to bring massive CFX liquidity to the broader Decentralized Finance (DeFi) ecosystem. Conflux revealed on its official Twitter account page that the deployment has the potential to bring access to millions of new users, particularly in the Chinese and Asian markets.
Uniswap is the dominant Decentralized Exchange (DEX) platform, and with the growing popularity of the Conflux protocol, both protocols are bound to benefit from this partnership.
As a prominent blockchain protocol emerging from China, Conflux represents hope for developers and innovators in Asia with the mission of attracting additional investments into the region. It currently boasts of operating in a country that is dominating the blockchain application scene, further positioning its integration of the Uniswap protocol to benefit the entire DeFi ecosystem.
Exciting proposal: we're deploying #Uniswapv3 and entering the #CurveWars with CFX bridged to Ethereum mainnet.
— Conflux Network Official (@Conflux_Network) April 14, 2023
The deployment has the potential of bringing access to millions of new users, particularly in the Chinese and Asian markets.
More in the thread. 👇🧵 #defi #Conflux pic.twitter.com/bAgNa5M2I0
According to Conflux, its integration of the Uniswap V3 engine will benefit projects operating in currencies other than USD significantly from this deployment. While the benefits are highlighted, the diversity in the product offering of Conflux has been further highlighted by the community.
Implications for price growth
The news of the integration has sent the price of Uniswap up by 2.56% to $6.25, a bullish trend that is being compounded by the growing sentiment in the Ethereum community post-Shapella Upgrade.
Conflux has been trading at a low over the past 24 hours; however, there is a rising uptick in the CFX trading arena. This more than 14% growth in trading volume has showcased how well the CFX token is transforming its bullish outlook. Soon, we can expect traders will start pricing in the news, and a switch in momentum can be charted.
The partnership is billed to benefit both Conflux and Uniswap as both protocols' communities hinge on the extant fundamentals in their ecosystems.