Hong Kong based bitcoin and cryptocurrency exchange Bitfinex has announced live trading of anticipated multi currency wallet app and hybrid exchange Eidoo tokens, symbol EDO. The Switzerland originated Eidoo application is an HD wallet which can support Ethereum, Bitcoin and all ERC20 tokens.
In the near future, Eidoo will provide a branded debit card and several other innovative services. The team’s vision will culminate in a single mobile app, through which users can buy, sell, convert and spend their digital currency. There is no full node required thanks to light architecture, in addition private keys managed by the user and encrypted on the device.
Eidoo (EDO) trading on Bitfinex is available on pairs EDO/USD, EDO/BTC, and EDO/ETH. Margin trading for these pairs will be enabled gradually, once the order book develops sufficient liquidity.
Eidoo recently held a token allocation event with 10,708,403 distributed from 82,372.33 ETH raised, the app is currently available on Google Play and iOS app stores.
What is the Eidoo Token and what is it for?
The Eidoo token is the necessary currency to exploit the Eidoo services, and especially the decentralized exchange and the market of goods. Without the Eidoo token it won’t be possible to exchange cryptocurrencies on the exchange or purchase goods on the market platform, since the commissions can be paid solely with the Eidoo token. The Eidoo token utilized in the services will be burned by one half and the other half resold, to cover the operational costs of the company, including taxation on the total commision paid. In time the number of Eidoo tokens will run out. When this will be the case, the commissions on the services of the platform Eidoo will be paid using another cryptocurrency (BTC, ETH, or other).