Conflux Raises $10M from DWF Labs

Layer1 blockchain Conflux has raised $10m from DWF Labs, a digital asset market maker and investment firm, via a token sale. The investment will help Conflux expand its technology and grow its user base.

Fan Long, co-founder of Conflux, said the $CFX tokens DWF Labs bought will linearly unlock over a period of time, and the fund will help Conflux build its ecosystem.

According to Fan Long, Conflux is "the only regulatory compliant permissionless blockchain in China". This year, Conflux has announced partnerships with Little Red Book, a Chinese social app, and China Telecom successively.

According to TokenInsight data, the price of $CFX went up by 9.11% over the last 24 hours, trading at $0.234903 now.