Bitfinex launching Ethfinex for ERC20 decentralized exchange protocols
The Ethfinex team has the necessary industry expertise and existing development experience. Having learned the lessons of Bitfinex, the team anticipates delivering the first phase of Ethfinex in months not years.
pun out of Bitfinex, the exchange company has announced today it will launch Ethfinex and with it the vision of a customer-centric and highly liquid digital asset exchange platform. Ethfinex will be a hybrid community and information hub for developers, traders and enthusiasts alike, designed to facilitate discussion, development, and trading in the Ethereum
Ethfinex proposes a new community and information hub for these tokens, designed to facilitate learning, discussion, and analysis whilst simultaneously offering access to the most highly liquid and advanced trading platform for Ethereum ERC20 tokens.
The company is planning a new token called the Nectar token or NEC which will act as a loyalty reward for token market makers on the Ethfinex exchange.
Loyalty tokens
Will entitle holders to claim rewards from fees generated by Ethfinex, and to participate in future exchange governance. Gradually, as more tokens are earned, the ownership of the exchange will become decentralized, and Ethfinex will be owned by its customers.
The Ethfinex platform will reflect the nature of the Ethereum community itself: building smart contracts and decentralization increasingly into everything it does and providing tools and modules necessary to interact with and contribute back to other projects in the ecosystem.
The long-term vision is to move towards a completely trustless exchange, with gradual decentralization of ownership to its community of users.
Ethfinex has made their white paper available which you can find
https://www.bitfinex.com/ethfinex-whitepaper.pdf
The Bitfinex team said:
“Tokens and tokenized assets on Ethereum are fast proving themselves to represent one of the most exciting innovations of the decade, with the potential to displace traditional business models and revolutionize financial infrastructures. The core value of these tokens is often the communities around them but, following the rapid growth of the ecosystem, these communities tend to be dispersed, with credible information difficult to find, analyze, and keep track of.”
“Based on Bitfinex’s trading engine experience and customer base, we believe that fully decentralized models for exchange are not yet mature or scalable. To accelerate the development of on-blockchain exchanges, the Ethfinex platform will pioneer a hybrid decentralized architecture, allowing decentralized exchanges to plug into it and trade with Ethfinex customers, as well as each other. Ethfinex will encourage the emergence of scalable and trustless solutions by acting as an experimentation zone for emerging decentralized exchange protocols, providing feedback and allowing them to test and learn.”
Source:Ethfinex