Uniswap V3 Deployment On Conflux Network Opens New Web3 Trading Opportunities
- Uniswap V3 will be deployed on Conflux Network, a Layer-1 EVM-compatible blockchain, to access millions of users in China and Asia, and tap into the rapidly expanding Conflux ecosystem.
- The integration of Uniswap V3 on Conflux Network will increase liquidity volume, open up new trading opportunities to users, and provide new arbitrage trading opportunities in the Web3 space.
Uniswap V3 is set to be deployed on Conflux Network, a permissionless Layer-1 EVM-compatible blockchain. The deployment is expected to provide access to millions of potential new users, particularly in the Chinese and Asian markets, and tap into the rapidly expanding Conflux ecosystem.
Conflux Network is one of the fastest EVM-compatible L1 blockchains on the market, boasting a maximum capability of 6400 TPS, and a 0.5 second block time. In Q1 2022, Conflux migrated to a hybrid PoW/PoS consensus, providing a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.
The Conflux Network is China’s only regulatory-compliant blockchain network, and has already started integrating with local Web2 giants. The blockchain achieves regulatory compliance by separating two spaces on the same ledger, Core Space and eSpace. The Core Space is mainly used in China, where users can interact with dApps without directly interacting with tokens (ERC20 or mainnet token). On eSpace, users can interact with tokens (ERC20, ERC721, ERC1155, etc.) like on any other blockchain network, and it has an international focus. Both spaces are on the same ledger, and assets can be seamlessly transferred with an interspace contract.
The integration of Uniswap V3 on Conflux Network comes after recent events resulting in an influx of Web2 users. In January, Conflux announced the integration of Little Red Book, the Chinese Instagram, showcasing NFTs on Conflux. This integration onboards 200 million+ potential users to Web3. In February, Conflux announced its partnership with China Telecom (390 million subscribers) to launch a Blockchain SIM card that can interact with Web3 assets securely from every smartphone. With the UniswapV3 deployment, Conflux can onboard these users to DeFi.
Uniswap V3 deployment on Conflux Network is expected to open up new trading opportunities to users, increase liquidity volume, and provide new arbitrage trading opportunities. It is a significant step towards realizing a simpler way of user interaction with Web3, and towards the mainstream adoption of blockchain technology.
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