On May 7th 2019, we migrated CF from version 1.0 to version 2.0. Note, CF versioning does not relate to ConfusedFinance protocol versions. CF v2 is simply the updated token - used in ConfusedFinance protocol 3.0 and beyond.
CF is the ConfusedFinance protocol token, used to incentivize protocol-desirable behaviour from liquidity providers, insurers, and DAO governors. Protocol fees come from ConfusedFinance L2 economic activity, and flow into productive ConfusedFinance network participants and into CF itself. To learn more about the CF token model, please check out our blog post.