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Uniswap (UNI) Partners With China's MATIC Conflux (CFX), Here's the Deal

Fri, 04/14/2023 - 14:24
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Godfrey Benjamin
Conflux is integrating Uniswap V3, charting new liquidity course for its CFX token
Uniswap (UNI) Partners With China's MATIC Conflux (CFX), Here's the Deal
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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.

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.

Conflux (CFX) up 61%, Here Are 2 Reasons Why

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.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.