Shanghai Tree-Graph Blockchain Research Institute, also known as Conflux Foundation, is shutting down its multi-chain protocol ShuttleFlow after two years of service. According to an agreement, the platform has been transferred to Zero Gravity and user assets will be redirected from ShuttleFlow to the Zero Gravity protocol.
ShuttleFlow technology stack will be taken over by Web3 company Zero Gravity, which will continue to develop the protocol under a new brand. According to the developers, all user funds are safe and will be transferred from ShuttleFlow to Zero Gravity. The team also stated that users who have previously bridged through ShuttleFlow and completed the asset transfer on the target chain will not need to perform any additional actions, and they continued their statements as follows:
“After ShuttleFlow closes the bridging process, users can bridge through Zero Gravity’s official dApp or continue to use the bridging collector that will be integrated with Zero Gravity when it launches.”
The decentralized platform ShuttleFlow (dApp) will partially remain operational until January 2024 to allow users who have bridged their crypto assets but have not yet claimed them to reclaim their assets. However, after this date, the website and platform servers will permanently end their service.
Conflux’s Blockchain Partnerships Draw Attention
In 2021, Conflux introduced the Shuttleflow asset bridge to its ecosystem users to better involve them in decentralized finance. The company announced that during the initial service period, the proof-of-work algorithm allowed up to 6,000 protocol transactions per second. Earlier this year, Conflux Foundation announced its partnership with China Telecom, the country’s second-largest company with over 390 million users, to develop a blockchain SIM card application.
Conflux is a Layer-1 blockchain network that operates on a hybrid proof-of-work and proof-of-stake consensus. Its parent organization, Shanghai Tree-Graph Blockchain Research Institute, is supported by the Shanghai Municipal People’s Government. The project team claims that it is the only regulatory-compliant public blockchain network in China.
