Friday March 05, 2021
Bitcoin (BTC) $47,312.00   Ether (ETH) $1,487.19
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Crypto Exchanges

Ethfinex finally launches the native Nectar platform token

Published by CryptoNinjas.net
02/13/2018
Ethfinex finally launches the native Nectar platform token

Ethfinex, the new Ethereum ERC-20 platform spun out from bitcoin and cryptocurrency exchange Bitfinex last summer has a finally launched their community-centric token that seeks to totally decentralize the exchange by bringing ownership to its participants and traders. Through the Ethfinex platform, users will be able to acquire the platform’s Nectar tokens as a means to be part of the governance and also possess an ownership share in the fees that are generated.

50% of the fees accumulated from trading on the Ethfinex platform will be distributed among NEC token holders. Assuming for example. a user holds 10% of Nectar tokens, then from the fees collected, 10% will be assigned to this user through a smart contract. Ethfinex officially launched in December 2017, although still beta mode.

The Nectar (NEC) Token Launch

There is no ICO for releasing Nectar tokens. Instead, the tokens will be handed out to traders in direct proportion to their trading volumes. This will be computed at the end of every 30 days.

The program offering Nectar tokens officially began today, February 13th, 2018.

As a trader, once you have access to the Nectar tokens, you can either accumulate them or trade them on other exchanges. Users simply earn tokens based on how much they trade. The more is traded on the platform, the more NEC will be accumulated the end of the 30 day period. Ultimately, these tokens will be used as a form of ownership and a stake in the Ethfinex Platform.

How to Get Access to The Tokens

The first thing users need to do to gain access to these tokens is to visit the Ethfinex website and register for the scheme as a market maker.

Once registered, users will get a chance to be a Nectar token holder. The Nectar tokens that will be assigned will be computed and updated at the end of every 30 days. NEC is earned through market making and can be traded on Ethfinex against USD, ETH & BTC. At the end of each 30 day period, traders will be rewarded with Nectar tokens in proportion to the liquidity they provided to the exchange.

There will be an initial circulating supply of 500,000,000 (out of 1,000,000,000 total, 50% locked up) Nectar tokens that are going to be issued at the end of the first period. Market makers who may want to retain a fixed percentage of the total tokens they hold, would accordingly need to be constantly active on Ethfinex.

NEC tokens can be traded immediately once you have them and are ERC-20 compliant, which means they will be easily available and can be traded on most exchanges on the secondary market.

For more information see the NEC contract address, and do note that NEC withdrawals are suspended for the first 30 days of trading.

FacebookTwitterLinkedinRedditE-MailTelegram

Related News

DeversiFi (previously Ethfinex) overhauls exchange governance token
Crypto Exchanges

DeversiFi (previously Ethfinex) overhauls exchange governance token

09/20/2019
Ethfinex evolves into DeversiFi for an improved decentralized exchange
Crypto Exchanges

Ethfinex evolves into DeversiFi for an improved decentralized exchange

08/13/2019
Over the counter (OTC) trading now live on Ethfinex Trustless
Crypto Exchanges

Over the counter (OTC) trading now live on Ethfinex Trustless

06/03/2019
Ethfinex and Bitfinex launch new token sale platform Tokinex
Token Offerings/Listings

Ethfinex and Bitfinex launch new token sale platform Tokinex

05/21/2019
ERC20 exchange ecosystem Ethfinex migrates to 0x V2
Crypto Exchanges

ERC20 exchange ecosystem Ethfinex migrates to 0x V2

03/07/2019
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
DEX aggregator 1inch integrates Bitquery's API-powered crypto trading data

DEX aggregator 1inch integrates Bitquery’s API-powered crypto trading data

03/02/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
CasinoCoin to migrate to XRP Ledger amidst rebranding

CasinoCoin to migrate to XRP Ledger amidst rebranding

03/01/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
iGaming platform Royale to integrate API3 to verify on-chain crypto-to-fiat price exchange

iGaming platform Royale to integrate API3 to verify on-chain crypto-to-fiat price exchange

03/04/2021
Crypto exchange KuCoin opens beta test on new 3x leveraged BTC and ETH tokens

Crypto exchange KuCoin opens beta test on new 3x leveraged BTC and ETH tokens

03/04/2021
Decentralized cloud Akash Network integrates with Equinix Metal

Decentralized cloud Akash Network integrates with Equinix Metal

03/04/2021
Crypto fund KR1 makes investment in blockchain data protocol LazyLedger

Crypto fund KR1 makes investment in blockchain data protocol LazyLedger

03/04/2021
DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

03/04/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version