Bitfinex started an important partnership with the EOS community that resulted in eosfinex. The new platform that is now live on EOS mainnet in the beta phase will bring Bitfinex liquidity to the EOS.
The platform by Bitfinex and EOS community will work as a digital asset exchange and portfolio management. eosfinex is wholly based on EOSIO technology and supports the infrastructure and features of EOS.
“Post launch, eosfinex will roll out listings for Equilibrium Framework (EOSDT & NUT), LiquidApps (DAPP), Everipedia (IQ), EOS, USDt, and pTokens’ pBTC, pETH, and pLTC in addition to other popular cryptocurrencies,” according to the announcement by eosfinex.
Liquidity has always been a big challenge for EOS users and contributors. eosfinex addresses those problems in mainnet launch in partnership with the major cryptocurrency exchange. With these challenges solved, the EOS ecosystem can hope to grow faster and broader. With its updated architecture and collaboration with Bitfinex, eosfinex can become the most reliable way to trade on EOS with the maximum liquidity available.
Order matching will be done off-chain on eosfinex. Still, custody and settlement processes will remain on-chain, “allowing for a dramatic increase in performance, as trade speeds will not be limited by block times. It will stake on behalf of users to ensure a smooth trading experience, covering the costs of network resources for traders globally. Additionally, fee-free trading will be supported with maker fees of 0%, while taker fees will be 0.2%,” according to eosfinex.
EOSIO has many features focused on security and control in non-custodial components. eosfinex that will be among these components will benefit from the features and process all of the transactions automatically on-chain. The off-chain matching mechanism also makes it possible to support limit orders in eosfinex. This kind of order is not available in most of the decentralized exchanges.
eosfinex can become a critical achievement for the EOS community. This DEX will help members and EOS enthusiasts show the importance and features of the blockchain. They can point to the successes of eosfinex when seeking support for their projects. Bitfinex will benefit from this new partnership and attract a big community of EOS fans.
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