Zero Gravity will get the ShuttleFlow technology stack.
Developers stated that all user funds are safe and will be transferred to Zero Gravity.
Conflux Foundation, commonly known as the Shanghai Tree-Graph Blockchain Research Institute, has announced that after two years of operation, the ShuttleFlow ecosystem Multichain protocol would be discontinued.
Rather, Zero Gravity, a Web3 firm, will get the ShuttleFlow technology stack and continue to build the protocol under a new name.
Users Have Until January 2024
Developers stated in their post that all user funds are safe and will be transferred from ShuttleFlow to Zero Gravity. They also stated that users who have already bridged through ShuttleFlow and finished claiming their bridged assets on the destination chain won’t need to perform any extra procedures for the migration.
Until January 2024, customers who have bridged assets but have not yet claimed them will be able to do so with the use of the ShuttleFlow decentralized application (dApp). After that time, the domain and servers will be taken down.
In 2021, Conflux developed the Shuttleflow asset bridge to help onboard its ecosystem members to decentralized finance (DeFi). According to the company’s claims at the time, the number of protocol transactions per second may reach up to 6,000.
Conflux Foundation and China Telecom, the country’s second-largest telecom company with over 390 million consumers, announced their collaboration on a blockchain SIM card earlier this year.
Conflux is a hybrid proof-of-work and proof-of-stake blockchain that operates at the layer-1 level. The Shanghai Municipal People’s Government backs the Shanghai Tree-Graph Blockchain Research Institute, the organization’s parent. The initiative promises to be the first public blockchain in China that complies with local laws and standards.
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