Conflux Partners with Presto to Boost Staking and Expand in Asia

• Conflux partners with Presto to enhance staking and expand market reach across Asia, boosting blockchain ecosystem growth.
• Conflux eSpace is now live on C3 Caller, enabling seamless blockchain integration and expanding ecosystem collaborations.

In a tweet, Conflux announced a cooperation with Presto, with the goal of improving the network’s staking capabilities and increasing its market reach beyond Asia.

This collaboration complements Conflux’s objective of connecting decentralized economies around the world and accelerating the expansion of the blockchain ecosystem. Conflux is excited about this collaboration since it will allow them to enter new markets and assist creative blockchain projects.

We’re excited to announce that we have teamed up with @presto_labs to expand our network’s staking capabilities and our market reach across Asia.

This partnership is a perfect fit for our mission to link decentralized economies globally and boost the growth of the blockchain… https://t.co/QH1QMW2An7

— Conflux Network Official (@Conflux_Network) August 15, 2024

Presto Commits 20M CFX to Become a Leading PoS Validator on Conflux 

Presto has committed 20 million CFX tokens, demonstrating its significant commitment to this cooperation and establishing itself as one of the largest Proof-of-Stake (PoS) validators on the Conflux Network.

This huge investment demonstrates Presto’s belief in the Conflux Network’s potential, as well as the larger aim of building a strong and scalable blockchain ecosystem.

Following the news, Conflux’s native token, CFX, experienced a significant surge in value. At the time of writing, CFX is trading at around $0.1344, up 5.28% over the last 24 hours. This increase has pushed its market cap to $582.58 million.

Despite the recent spike, the coin has remained in a consolidation phase for the previous week, showing market participants’ cautious optimism.

The network has seen several developments in addition to Conflux’s cooperation with Presto. Recently, CNF noted that Conflux eSpace, which is completely EVM-compatible, is now available on C3 Caller, allowing for smooth blockchain integration. This is an important milestone for Conflux as it works to create a comprehensive and linked blockchain ecosystem.

Conflux has also been proactive in developing its ecosystem, collaborating with such notable projects as Mengli Carnival, OpenFlux, PoPP Lab, and Cwallet. These agreements aim to promote ecosystem growth and create new opportunities in the blockchain space.

Furthermore, Conflux Network has expanded its ecosystem grant program to promote creative projects hosted on Conflux eSpace, demonstrating its dedication to developing the next generation of blockchain technology.

Conflux Network’s primary focus remains on developing protocols for decentralized finance (DeFi), social finance (SoFi), decentralized exchanges (DEX), yield farming, derivatives, and real-world assets.

This strategic direction demonstrates Conflux’s commitment to drive innovation in critical areas that will influence the future of blockchain technology.