Conflux raises $10 million from DWF Labs in token round
Conflux, a Layer 1 blockchain developer, raised $10 million from DWF Labs. The investment will help Conflux expand its technology and grow its user base, DWF Labs said Wednesday. Conflux co-founder Fan Long confirmed the investment, saying it was settled "a few days ago."
DWF Labs bought Conflux (CFX) tokens from the project's team and foundation reserve and will "linearly unlock over a period of time," Long said. Conflux was developed by Long, who is also an assistant professor of computer science at the University of Toronto, and Andrew Chi-Chih Yao, the only Chinese Turing Award winner, who serves as the chief scientist of Conflux, according to Long. The Conflux network went live in 2020, but it has been in the news lately as it recently formed partnerships with China Telecom.
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