New Non-Custodial Crypto Exchange 'Brings Bitfinex Liquidity to EOS'

Eosfinex has launched a beta version of its mainnet, saying it brings liquidity from the Bitfinex cryptocurrency exchange to the EOS community.

AccessTimeIconOct 7, 2020 at 1:00 p.m. UTC
Updated Sep 14, 2021 at 10:05 a.m. UTC

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), 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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.