New Non-Custodial Crypto Exchange 'Brings Bitfinex Liquidity to EOS'

Oct 7, 2020 at 13:00 UTCUpdated Oct 7, 2020 at 14:39 UTC.Eosfinex, a non-custodial digital asset exchange, has launched a beta version of its mainnet, saying it brings liquidity from the Bitfinex cryptocurrency exchange to the EOS community.

Direct access to Bitfinex's liquid markets will provide an opportunity to "Economically" trade large orders of EOS, tether and other cryptos, Eosfinex product lead Steven Quinn said in a press release Wednesday.

This would increase the speed of trades since they are not tied to block confirmation times.

The usual large-cap digital assets will be supported including bitcoin, ether, litecoin and stablecoin tether, Eosfinex spokesperson Chi Zhao told CoinDesk via email.

Eosfinex - which is built on EOSIO technology - will also offer Equilibrium, Everipedia and interoperability bridging assets known as pTokens at launch.

The firm said the launch would help solve the issue of illiquidity in token trading for the EOS community, which it called a "Major obstacle to growth."

Eosfinex said it will stake assets on behalf of users, "Covering the costs of network resources for traders."

This would free up users' locked EOS tokens on the network, further increasing liquidity within the EOS ecosystem, Zhao said.

Verification of an Eosfinex account is not mandatory to trade or transact with its various digital assets; it features a three-tiered system of individual authentication levels.

According to CoinMarketCap data, Bitfinex is the sixth-largest crypto exchange by trading volume.