Bitfinex, the world’s leading professional cryptocurrency trading platform, has today announced the complete launch of Ethfinex, a hybrid Ethereum-based exchange which allows users to take advantage of both centralised and on-chain trading opportunities.
The full launch of Ethfinex coincides with a time of immense interest in the development of decentralised trading solutions to mitigate dependency on current centralised solutions and explore the boundaries of distributed trading architecture.
Will Harborne, Director of Operations at Ethfinex said, “Today represents the culmination of a prolonged phase of hard work and dedication fuelled by our vision for a decentralised, 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 decentralised exchange.”
Announced in August 2017 and launched as a beta in December of that year, Ethfinex has steadily grown and now processes daily volumes averaging over $70 million USD. Powered by the Nectar (NEC) token, 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. 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 centralised and on-chain trading opportunities.”
With an overarching vision of decentralizing trading solutions on a global scale, Ethfinex allows for seamless trading through Ledger, MetaMask, Trezor and Keystore, providing trustless, anonymous and high-liquidity trading solutions to over 57 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 centralised 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. We are dedicated to showcasing the power of decentralised and trustless trading solutions as this exciting journey continues,” concluded Harborne.