Bitfinex is one of the most reputable cryptocurrency exchanges in the market and yesterday they announced the launch of their Ethereum based hybrid exchange project, Ethfinex. Ethfinex, will enable users to conduct centralised and on-chain trading on a platform that places security and privacy in the hands of the user.
Ethfinex Trustless is a component of the Ethfinex ecosystem that allows for decentralised exchange without the need for deposits, registration or giving up token for a fixed amount of time. Ledger and MetaMask are used to assist the process of trading while being certain that users are able to utilise more than fifty-seven Ethereum based tokens to conduct anonymous high-liquidity trading.
According to the director of operations at Ethfinex, Will Harborne, “Today represents the culmination of a prolonged phase of hard work and dedication, fueled 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.”
After being announced more than a year ago, the beta version of Ethfinex was released on December 2017 and has since upscaled to handle a daily volume of over 70 million USD. Users on the platform are provided incentive for high trading volume using the Nectar (NEC) token. The vision that Bitfinex holds for Ethfinex is for it to usher in an ecosystem that is answerable to the public and is controlled by it.
Paolo Ardoino, the Chief Technology Officer for Bitfinex states, “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.”