Recently, Conflux, the blockchain-based platform, has integrated with the Worldwide Stablecoin Payment Network (WSPN). This integration aims to bring WUSD to the Conflux ecosystem and innovate in DeFi.
Introducing @WSPNpayment on Conflux blockchain—a leap forward for DeFi!https://t.co/SudKy3UZFhOur partnership with Worldwide Stablecoin Payment Network (WSPN) brings WUSD to Conflux blockchain, revolutionizing DeFi.Get ready for enhanced staking rewards and a gateway to the…
— Conflux Network Official (@Conflux_Network) September 30, 2024
Because of its improved efficiency, original consensus mechanism, and innovative dual-space structure—which distinguishes Conflux from other public blockchains— These qualities allow Conflux to offer a distributed platform that is quick, safe, and fit for various tasks. These applications cover banking and gaming.
Conflux combines PoW with PoS using a hybrid consensus mechanism for optimum decentralization, efficiency, and security. Consensus on Conflux preserves the same degree of decentralizing as Ethereum and Bitcoin while allowing 3,000 TPS of transaction throughput with confidence latency of less than 1 minute based on the Proof-of-Work algorithm and the Tree-Graph ledger structure.
Conflux is a powerful and consistent platform for various applications since it can effectively handle multiple transactions.
About the Stablecoin Payment Network (WSPN) to Conflux
Dedicated to delivering a safer, more efficient, and more transparent payment option for the global economy, the Stablecoin Payment Network (WSPN) is a significant source of next-generation stablecoin infrastructure. Designed to increase the safety and legality of digital payments for users utilizing Web3, its primary offering is the WUSD stablecoin. It is set 1:1 in US dollar value.
Thanks in part to the Stablecoin Payment Network (WSPN) Stablecoin 2.0 approach—which stresses user-centricity, community governance, and accessibility—wide acceptance of stablecoins is feasible.
A significant advancement in both companies’ respective efforts to expand the DeFi market is their cooperation. WUSD, the main stablecoin product from WSPN, will be included in the Conflux network.
Designed for use in worldwide payments and financial markets that run around the clock, WUSD is a stablecoin that can be traded for US dollars anytime. Apart from higher staking incentives, users can engage in the growing DeFi ecosystem, which will give continuous rewards and enable them to change with the financial scene.
Key Elements of this Integration
Global Multi-Chain Ecosystem Growth
WSPN, which provides seamless payment experiences worldwide, values Conflux’s excellent performance and low transaction costs. This partnership will enhance WSPN’s multi-chain environment, making WUSD more accessible to varied users. Conflux’s technology will help WUSD circulate globally, boosting acceptance and user growth.
CFX/WUSD Trading Pair Increases Liquidity
The CFX/WUSD trading pair and Conflux eSpace deposit and withdrawal functions are being introduced by WSPN and major exchanges like Bitget to increase WUSD liquidity. This project seeks to simplify trade, improve WUSD-Conflux links, and eliminate admittance limits. It should boost WUSD’s market trading volume, lower on-chain costs, speed up transactions, and raise its profile on significant exchanges.
Widening WUSD On-Chain Application Scales
The cooperation will increase WUSD issuing and transaction volume using on-chain usage cases. Using Conflux DApps, WUSD will be incorporated for trade, payments, loans, and cross-border activities. These new instruments will increase WUSD demand and user interface with the ecosystem, improving market activity and liquidity.
