New Bitfinex Exchange Coming, All Things Ethereum.
Cryptocurrency exchange Bitfinex has announced that they will be launching a new trading platform for ethereum-based tokens.
Bitfinex Meet...Ethfinex
This new platform that Bitfinex is building aims to function as a decentralized exchange for tokens on the ERC20, and most likely, ERC23 standards. Bitfinex was founded in 2012 and is one of the world's largest crypto exchanges by volume, and equates for about 20% of exchange based trading volume in the last few weeks.
"Spun out of Bitfinex, Ethfinex brings 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 ecosystem."
Special Token
The new exchange will notably feature a token they've created called Nectar token (NEC). This new token will be a distributed to market-makers as a kind of loyalty point system, which can be redeemed for a percentage of trading fees each month. Bitfinex will not be doing a ICO/crowdsale for this token.
Additional Usages for the NEC token
The NEC token will also be used to give advice on governance decisions, and larger holders and will in time have the ability to elect members of an advisory board if they hold more the 5%.
Question / Thoughts
- How do you like the Bitfinex Exchange?
- Do you think splitting the two types of cryptocurrencies is a good thing? Is This going to cause more confusing as more currencies come out?
- Is the Nectar token necessary?
I like and trust Bitfinex. I like their selectivity around coins they trade. I also like usibility of their site and also their mobile app.
I believe NEC may be useful for governing Ethfinex. It would be very exciting to watch this form of governance evolving. For NEC to be successful the process should remain simple, transparant about emissions, reward structure, etc...
I don't think numerous types of currencies will cause more confusion on the market. I believe in general that crypto market is well self sustained system and has been selfregulated efficiently up to now. So i trust that simplicity, transparancy, security and usefulness has been and will be justifying the need for additional coins, currencies, tools....NEC will have to proove itself to meet the requirements above...