in Initial Nodes $28 Million Invested in Conflux Nodes by DWF Labs


Hong Kong, China, June 28th, 2023, Chainwire – DWF Labs, the global digital asset marketmaker and multi-stage WeThe b3 investment company, has made a strong commitment towards supporting Conflux, a Tree-graph consensus algorithms Layer-1 blockchain. On February 15th, a partnership was formed with China Telecom in order to create a blockchain SIM card (BSIM) which was unveiled in May.

Recently, DWF Labs purchased $18M worth of CFX tokens, thus solidifying their long-term relationship with Conflux. Additionally, $10M worth of CFX Tokens are now available for purchase since March 2023.

Apart from that, Conflux has partnered with Hong Kong’s Web3 Institute, and the Singaporean Government for the Singapore Digital Economy Roundtable. Further, the IEEE P3217 standard for international blockchain standards was drafted by the Institute.

Moreover, Conflux has established key partnerships with Supremacy- WeB3 Security Platform, dappOS, NuLink, Smooth Labs, and Opside, all of which are making substantial contributions to the global stage.

Fan Long, Co-Founder of Conflux Network, stated: “Conflux Network has experienced exponential growth since the start of 2023, pioneering advances in the Chinese NFT market and establishing fresh Web3 access through the BSIM card project with China Telecom. DWF Lab 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.”

The Managing Partner of DWF Labs, Andrei Grachev, 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 Web3 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.”

Conflux is a Layer 1 blockchain connecting decentralized economies across borders and protocols. It has a hybrid PoW/PoS consensus in place, making the blockchain environment fast, secure, and scalable, with low fees and no congestion. Being the only public blockchain that is regulatory-compliant in China, Conflux offers unique advantages to those who are building or expanding in Asia. Conflux has been working with government and corporate entities across the region, including the City of Shanghai, McDonald’s China, and Oreo.

DWF Labs is a global digital assets market maker and multi-stage WeB3 Investment Firm that supports portfolio companies with token listing, market making and OTC trading solutions. The investment firm is based in BVI and has offices in Singapore, Switzerland, UAE, Hong Kong, and South Korea. Its affiliate, Digital Wave Finance (DWF), is a cryptocurrency trading entity that consistently ranks in the top 5 by volume, thanks to its proprietary technology.

For more information, contact Melissa Tirey at [email protected].

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