Bitfinex, one of the leading cryptocurrency exchanges, today announced the complete launch of Ethfinex, a hybrid Ethereum-based exchange ecosystem which allows users to take advantage of both centralized and on-chain trading.
Now, with the addition of Ethfinex Trustless, the decentralized exchange (DEX) portion is online. On Ethfinex Trustless, there are no signups, no deposit or withdrawal delays and no sacrificing custody of tokens. Ethfinex allows for seamless trading through means of Ledger and MetaMask, providing trustless, anonymous and high-liquidity trading solutions to over 57 Ethereum based tokens.
“Today represents the culmination of a prolonged phase of hard work and dedication fuelled 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.”
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 ecosystem where platform fees, token listings, and governance decisions are distributed amongst users.
“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.”
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.