Ethfinex trustless, a hybrid cryptocurrency exchange built exclusively for Ethereum has been built by Bitfinex exploring the decentralized nature of exchanges. The trading platform has been developed to provide more security, privacy, and control of their digital assets by linking centralized and off-chain orders books. Paving the way for the mainstream exchange for its future decentralized purview.
Ethfinex Trustless employs a liquid, and off-chain order book that wouldn’t need the users to relinquish control of their tokens and with no delays in withdrawals and deposit. There won’t be any signups, KYC checks and no user credentials to be provided like name, email, or phone number in order to start trading.
One of the fulfilling requisites to trade would be to hold at-least one Ethfinex Nectar token in their ETH waller. Ethfinex would ensure distributed delivery of Nectar tokens to traders every month.
Initially introduced trading pairs are ETH/USDT, OMG/USDT, OMG/ETH, ZRX/USDT, and ZRX/ETH, with at least 40 more tokens.
Enhanced Privacy and Security
Ethfinex Trustless, as the name suggests is primarily aimed at delivering a new level of privacy and liquidity for traders.
As pressed upon in the firm’s official Medium blog, commenting upon the tradeoff for centralized exchanges between providing highly liquid order books is that traders need to relinquish control of their digital assets along with their personal data.
Also, centralized exchanges are said to be time-consuming for day traders with delays in deposits and withdrawals.
50+ Ethereum Tokens Available
Ethfinex employs Ledger and Metamask to provide anonymity, inside a trustless and liquid trading ecosystem consisting of more than 57 Ethereum tokens. Both the order books of Bitfinex and Ethfinex could be used by traders.
The platform would be inculcating Fee structures, trader incentives, margin decisions soon.