Bitfinex developers have launched a beta version of the non-custodial EOSfinex exchange for trading major cryptocurrencies and tokens issued on the EOS blockchain.
According to the leading expert on EOSfinex products, Steven Quinn, direct access to the liquid markets of Bitfinex will provide an opportunity to “economically” trade large volumes of EOS, USDT and other cryptocurrencies.
According to the developers, the launch of the beta version of EOSfinex will allow matching orders outside the network, while leaving storage and calculations in the blockchain. This would increase the speed of transactions, since they will not be tied to the block confirmation time. According to EOSfinex spokesman Chi Zhao, the exchange will support transactions with crypto assets with a large market capitalization, including BTC, ETH, LTC and stablecoins.
EOSfinex, based on EOSIO technology, will support the Equilibrium stablecoin (EOSDT) and Everipedia (IQ), as well as derived tokens with inter-network connectivity, known as pTokens. The company said that the launch will help solve the problem of lack of liquidity in token trading on EOS.
In addition, EOSfinex will conduct asset staking on behalf of users, “covering the cost of network resources for traders.” According to Zhao, this will free up users ‘ blocked EOS and further increase liquidity in the EOS ecosystem.
Verification of accounts on EOSfinex is an Optional condition for trading or operations with crypto assets. The exchange has implemented a three-level system of individual authentication levels. According to CoinMarketCap, Bitfinex is the sixth largest cryptocurrency exchange by trading volume.
For the first time, the development of EOSfinex became known
two years ago. At that time, it was planned that the site would be launched in early 2019, but the launch was eventually postponed.