In a notably significant development, the Conflux Foundation is anticipated to cease operations and maintenance of ShuttleFlow after over two years of diligent handling. ShuttleFlow, a multi-asset bridge constructed on Conflux, has played a critical role in stimulating progress in the decentralized finance (DeFi) sector, particularly in enabling the flawless transfer of assets across diverse chains.
This multi-chain asset bridge has been pivotal in the DeFi landscape, estabishing itself as a leading platform in its field. ShuttleFlow’s unique structure successfully bridged interoperability gaps between distinct blockchains, thereby broadening the range of opportunities available for users.
Furthermore, the platform extensively facilitated effortless swaps between decentralized blockchains like Ethereum (ETH) and Binance (BNB), leveraging Conflux as the transit chain. With the imminent shutdown of ShuttleFlow, the onus of maintaining and enhancing the technology stack has been entrusted to Zero Gravity, a renowned cryptocurrency hub company.
According to recent disclosures, Zero Gravity is committed to bolstering the Bridge’s capabilities, thereby ensuring a seamless and secure user experience within the rapidly evolving multi-chain ecosystem.
The Conflux Foundation, as part of its transition strategy, ensures the security of user funds. All funds from ShuttleFlow are to be transferred to Zero Gravity’s custody, thus ensuring asset protection. Those users who have utilized ShuttleFlow’s bridging services in the past and claimed their assets successfully will not have to participate in any supplementary actions relating to this migration.
Moreover, post discontinuation of its bridging service, ShuttleFlow promises to aid users in claiming their assets on the destination chain. Such unclaimed assets can be conveniently located on the ShuttleFlow history page.
As per the announced schedule, the ShuttleFlow website and its decentralized application (dApp) will operate with encumbered functionality until January 6, 2024. However, the bridging service will halt through ShuttleFlow’s dApp as early as November 6, 2023. Following the complete shutdown of ShuttleFlow, users will be able to bridge their assets through the official dApp of Zero Gravity.
Steadfast in their belief of decentralization being instrumental for ecosystem growth, the Conflux Foundation perceives the transfer of control to Zero Gravity as a positive step for achieving ShuttleFlow’s vision of boosting chain-agnostic asset flows to and from the Conflux Network.
In response to these significant changes, notable variations have been observed in the value of the protocol’s token, CFX. Despite a slight downward trend of over 2.9% in its trading value over the past 24 hours, the token continues to sport impressive gains of 277% in the year-to-date period. These figures clearly demonstrate the robust growth witnessed by the token over the past year.
