Conflux Raises $10M from DWF Labs in Token Funding

DWF Labs purchased Conflux tokens, which Conflux co-founder Fan Long told The Block will be “unlocked linearly over a period of time.”

Conflux was developed by Long, an assistant professor in the Department of Computer Science at the University of Toronto in Canada, and Yao Qizhi, chief scientist and the only Chinese Turing Award winner.

The Conflux network went live in 2020, but it has been in the news recently because of its recent partnerships with China Telecom, China’s second-largest wireless operator, and Xiaohongshu, the Chinese version of Instagram.