The Final Conflux Allocation For Early Investors Was Unlocked In April 2023

Key Points:

• The Conflux tokens of the last batch of early investors were unlocked in April 2023, and more than 75% are paper hands and wash transactions.
• It is reported that in 2021, the company raised $35 million from Sequoia China, F2pool, Huobi, Metastable and IMO Ventures.

On May 15, Yuan Jie, the co-founder of Conflux, announced that the tokens of the last batch of early investors were unlocked in April 2023, and more than 75% are paper hands and wash transactions.

It is reported that in 2021 Conflux raised $35 million for a non-profit foundation that will support the development of a new blockchain network. The Conflux Foundation is based in Singapore and will utilize the revenues to fund network development. Venture capital companies Sequoia China, F2Pool, and Huobi, as well as Metastable and IMO Ventures, are among the investors.

The initiative was co-founded by researchers from the University of Toronto and China’s Tsinghua University, including Dr. Andrew Chi-Chih Yao, a Turing Award recipient and Tsinghua University professor of information sciences. The Turing Prize, named after prominent mathematician Alan Turing, is handed out annually by the Association for Computing Machinery (ACM). It is regarded as a kind of Nobel Prize for computer science.

Conflux is a proof-of-work (PoW) network located in China that employs a Turing-complete smart contract language akin to Ethereum. It is based on a technique that processes parallel blocks, which results in higher transaction throughput and shorter confirmation times. Conflux uses a customized version of Solidity and the Ethereum Virtual Machine (EVM) for its smart contracts, making it simple to convert Ethereum smart contracts to Conflux.

Upon the launch of Conflux (CFX), the investor tokens will be released monthly for the next two years. If the CFX market spot price surpasses a particular threshold, the investor tokens may be unlocked ahead of time to offer liquidity to the CFX market.

Thanks to its impressive over 13% performance, CFX is today’s coin of the day. CFX is currently trading at $ 0.2872.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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Harold

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