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Bitfinex lauches hybrid, Ethereum-based exchange

Tony Zerucha

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Bitfinex today announced the complete launch of Ethfinex, a hybrid Ethereum-based exchange allowing users to take advantage of both centralized and on-chain trading opportunities. 

“Today represents the culmination of a prolonged phase of hard work and dedication fueled by our vision for a decentralized, community-governed trading platform,” Ethfinex director of operations Will Harborne said. “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.”

Announced in August 2017 and launched as a beta in December, Ethfinex now processes daily volumes averaging in excess of USD $70 million. Powered by the Nectar (NEC) token, which is distributed to users on a monthly basis based on their trading volumes, Bitfinex’s vision for Ethfinex is to create a community-governed trading platform where platform fees, token listings, and governance decisions are distributed amongst users.

Paolo Ardoino, Chief Technology Officer at Bitfinex said, “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,” Bitfinex CTO Paolo Ardoino said. “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.”

Ethfinex allows for seamless trading through Ledger, MetaMask, Trezor and Keystore, providing trustless, anonymous and high-liquidity trading solutions to more than 50 Ethereum based tokens. As an on-chain platform, the Ethfinex Portal enables instantaneous trading, globally, by removing the need for registration, deposits, and identity confirmation. In addition to this, comprehensive integration with the central Bitfinex order books brings a highly liquid trading experience to users. With trades settled directly on Ethereum, the Ethfinex Portal mitigates the need for trust and places control back in the hands of the user.

“Through removing the array of concerns associated with current centralized entities, Ethfinex aims to power a new era of digital asset trading which prioritizes the control individuals have on the security, privacy, and liquidity of their trading experience,” Mr. Harborne said. “We are dedicated to showcasing the power of decentralised and trustless trading solutions as this exciting journey continues.”

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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