New Non-Custodial Crypto Exchange ‘Brings Bitfinex Liquidity to EOS’
New Non-Custodial Crypto Exchange ‘Brings Bitfinex Liquidity to EOS’
Eosfinex, a non-custodial digital asset exchange, has launched a beta version of its mainnet, saying it brings liquidity from the Bitfinex cryptocurrency exchange to the EOS community.
- Direct access to Bitfinex’s liquid markets will provide an opportunity to “economically” trade large orders of EOS, tether (USDT) and other cryptos, Eosfinex product lead Steven Quinn said in a press release Wednesday.
- The beta mainnet launch is said to enable off-chain order matching while retaining custody and settlement on-chain.
- This would increase the speed of trades since they are not tied to (sometimes tardy) block confirmation times.
- The usual large-cap digital assets will be supported including bitcoin (BTC), ether (ETH), litecoin (LTC) and stablecoin tether, Eosfinex spokesperson Chi Zhao told CoinDesk via email.
- Eosfinex – which is built on EOSIO technology – will also offer Equilibrium (EOSDT), LiquidApps (DAPP), Everipedia (IQ) and interoperability bridging assets known as pTokens at launch.
- The firm said the launch would help solve the issue of illiquidity in token trading for the EOS community, which it called a “major obstacle to growth.”
- In addition, Eosfinex said it will stake assets on behalf of users, “covering the costs of network resources for traders.”
- This would free up users’ locked EOS tokens on the network, further increasing liquidity within the EOS ecosystem, Zhao said.
- Verification of an Eosfinex account is not mandatory to trade or transact with its various digital assets; it features a three-tiered system of individual authentication levels.
- According to CoinMarketCap data, Bitfinex is the sixth-largest crypto exchange by trading volume.
