Conflux-Wrapped MTLX Tokens: Soon Tradable on OKEx

Mar 25, 2021

Mettalex joins Conflux’s initial DeFi cohort to become one of the first eight CFX-wrapped tokens with streamlined access to OKEx’s ecosystem.

With the goal of bringing the MTLX governance token closer to blockchain users in Asia, Mettalex is in the process of establishing a cross-chain token bridge with Conflux, the only state-endorsed public blockchain network in China.

The bridge between Ethereum and Conflux will be made available by MoonSwap. It will work in a similar way to the AnySwap bridge that is currently being used to move MTLX between Ethereum and Binance Smart Chain.

Conflux, a Solidity-compatible permissionless Layer 1 public blockchain network, today announced a strategic partnership with digital asset exchange OKEx to facilitate the entry of global DeFi projects to Asia. The partnership will enable interoperability between OKEx and Conflux via a token bridge for on-chain assets.

Eight emerging DeFi projects will have their tokens wrapped with CFX, the native token of Conflux Network, and will receive streamlined access to the Tier 1 centralized exchange.

One of these tokens is MTLX.

Other projects in Conflux’s first OKEx cohort include:

  • Set Protocol, indexes of tokens.
  • Autonio, a suite of liquidity and market-making tools, including a DEX and NIOX token.
  • QCAD, a CAD stablecoin pegged 1:1 to the Canadian dollar.
  • Oasis Labs, privacy-preserving audits, and fraud detection.
  • Moonswap, L2 AMM built on the Conflux chain.
  • SciFi, which oversees the SPICE DAO, a decentralized community that launches and governs tokenized investment funds.
  • Ramp DeFi, a cross-chain DeFi solution to create new yield strategies and stablecoin collateralized by staked coins.

 

Cohort members’ wrapped tokens will be backed by an equal amount of CFX. Being wrapped on Conflux will enable faster and cheaper transactions and will improve security by mitigating the risk of double-spends and fake tokens.

Read more about the announcement on CoinDesk.