Bitfinex, one of the most prominent exchanges on the crypto market, has revealed today the complete launch of Ethfinex, an Ethereum-based exchange network which enables users to make use of both centralized and on-chain trading options.
“Today represents the culmination of a prolonged phase of hard work and dedication fuelled by our vision for a decentralized, community-governed trading platform. We are beyond excited to leverage Ethereum to deliver a sophisticated, trustless trading experience to users worldwide and to further extend the boundaries of decentralized exchange,” said Will Harborne, Ethfinex’s Director of Operations.
Ethfinex was first announced back in August 2017 and its beta version was made available in December that same year, and since then it has come to process daily volumes of over $70 million USD on average.
Ethfinex makes use of its native Nectar (NEC) token, which is allotted to users on a monthly basis based on their trading volumes. Bitfinex intends for this exchange to serve as an ecosystem ruled by the community where platform costs, token listings, and governance verdicts are distributed among users.
“The complete launch of Ethfinex maintains the sense of continuous progress within the Bitfinex community and underlines our credentials as a true pioneer in this ever-evolving and exciting exchange landscape.
This is a firm demonstration of our commitment to accelerating the development of the blockchain trading ecosystem, extending our reach to a wide variety of traders worldwide, allowing them to take advantage of both centralized and on-chain trading opportunities.”- revealed the Chief Technology Officer at Bitfinex, Paolo Ardoino.
Ethfinex uses Ledger, MetaMask, Trezor, and Keystore, to provide a seamless, trustless, anonymous and high-liquidity trading experience with more than 57 ERC-20 tokens. Being an on-chain platform, the Ethfinex Portal allows for instant trading on a global level, by eliminating the need for registration, deposits, and ID verification.
The complete incorporation of the central Bitfinex order books adds more liquidity to the users ‘trading experience. The trades are settled directly on the Ethereum blockchain, giving Ethfinex traders control over their transactions.