Conflux proposes deploying Uniswap v3, setting up $2M liquidity pool for CFX pairs
Conflux, a regulatory-compliant public blockchain based in China, seeks to deploy the Uniswap v3 on its network, according to a proposal on Uniswap's governance forum on April 7. The move comes days after the Uniswap v3 code license expired, enabling developers to fork the protocol and deploy their own decentralized exchange (DEX).
As per the proposal, the deployment would provide "access to millions of potential new users, particularly in the Chinese and Asian markets." According to Conflux, its network experienced a spike in traffic in the first quarter of 2023. The network has a market capitalization of nearly $1 billion and $45 million in total value locked (TVL) on-chain.
"Currently, 84% of worldwide blockchain applications are submitted in China. Compared to the UK and the US, 11% and 14% [...] This shows that China is one of the most mature markets in Web3, and exposure is important for all projects," said Conflux in the proposal.
An #RFC (Request for Comments) regarding the deployment of @Uniswap V3 on Conflux #eSpace has been submitted on Uniswap's governance forum. We welcome everyone to join the discussion!Read the full proposal and discuss here: https://t.co/3QaeDGI2XP pic.twitter.com/Ar8sWSGnvG
Regulatory crackdowns in the United States and Europe would also benefit the crypto industry's growth in Asian markets, claims Conflux, noting that over 80 crypto companies are planning to establish an office in Hong Kong, providing a crypto bridge to mainland China.
Ambre Soubiran, CEO of institutional crypto market data provider Kaiko, holds a similar view. “The U.S. being more stringent these days than ever on crypto and Hong Kong regulating in a more favorable way [...] Is going to clearly shift the center of
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