In a press release published on 17 May, blockchain platform Conflux said it was uniquely positioned to answer the growing needs of the DeFi space. With its deep connections to the Chinese blockchain community and ongoing relationships with government entities, it wants to offer developers tools to build compliant DeFi technologies.
The company’s key product is ShuttleFlow, a multi-chain asset solution that enables interoperability between the Conflux Network, Ethereum, Binance Smart Chain, Huobi ECO Chain, and OKEx Chain. This will increase the liquidity of all these networks and speed up the exchange of digital assets, the company explained.
Conflux will not only provide projects with a cross-chain solution, but also help them mitigate risks by ensuring a secure network design. The platform uses a unique Proof-of-Work algorithm and Staking Contract that incentivizes miners to keep the network secure.
Additionally, Conflux can work with projects to ensure they get regulatory approval from governing authorities not just in China, but in the entire Asian region.
“From expanding global opportunities to revolutionizing traditional financial systems through cross-chain, cross-border, decentralized finance, Conflux is poised to help drive DeFi on a global scale, across protocols and borders,” Conflux explained in the release.