Conflux Network’s CFX token gained over 13% amid a ‘strategic partnership’ agreement with Asia-based venture studio BlockBooster.
In an X thread, Conflux Network said the latest deal with the Asia-based venture studio will focus on identifying “web3 incubation opportunities within the Conflux ecosystem,” as the project wants to facilitate “major events for Conflux builders.”
🤝 Conflux is excited to announce a strategic partnership with the emerging Asia-based venture studio @0xBlockBooster! pic.twitter.com/iqzBB3QWgW
— Conflux Network Official (@Conflux_Network) January 26, 2024
While no other details have been released, the news was enough to impact the CFX token, which gained over 13% surging to $0.24, according to CoinGecko data. BlockBooster, commenting on the agreement, expressed its intent to support web3 infrastructure, social initiatives, and gaming projects through the partnership with Conflux.
CFX price in USD | Source: CoinGecko
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Meanwhile, the blockchain network is gearing up to introduce an Ethereum Virtual Machine (EVM)-compatible layer-2 solution that can interact with the Bitcoin network amid growing interest.
Conflux’s proposed layer-2 solution will allow users to move Bitcoin (BTC) and other inscription-powered assets between its blockchain and Bitcoin‘s ecosystem. The new layer-2 network is set to operate on top of the main Conflux chain, utilizing BTC for gas fees and supporting Ethereum-based smart contracts via the EVM standard.
Established in 2018, Conflux Network positions itself as a blockchain platform, claiming to be the sole regulatory-compliant public blockchain in China. The project, often referred to as the “Chinese Ethereum,” is designed to offer a scalable and decentralized infrastructure for various applications.
Read more: DWF Labs doubles down on Conflux with $28 million invested
