Crypto exchange Ethfinex is gaining momentum

Ethfinex exchange is a hybrid decentralized exchange. Ethfinex offers to work with Ethereum-based tokens and assets. The exchange aims to become the main portal for the Ethereum community.

The Ethfinex exchange is a subsidiary project of the well-known Bitfinex exchange. Ethfinex is a young trading platform. Its launch took place on August 2, 2017. And trading became available to clients in December. 

Gradual decentralization is planned to be carried out using its own token - Nectar (NEC), which is designed to provide a loyalty program for participants in exchange trading on Ethfinex. To achieve this, the entire issued volume of Nectar tokens is concentrated among the developers and serves as a reward for active traders. As tokens are transferred to traders, the right to participate in decision-making will also be transferred to them. Thus, it is intended to implement the Proof-of-Stake mechanism (proof of ownership). To gain access to the management of the Ethfinex exchange, holders must own more than 5% of NEC tokens. 

In the spring, Ethfinex developers launched the so-called Nectar Community. This will allow Nectar token holders to vote on various proposals for the operation of the platform, including the listing of new coins, commission rates, terms of referral systems, etc. Also in April, the Ethfinex ERC20 ecosystem integrated RigoBlock, a platform for creating and managing decentralized pools of digital tokens.

At the beginning of last fall, the Ethfinex team presented a roadmap outlining the main goals of the project and the stages of their implementation. Last month, the exchange reported that the platform's user base had grown 21% year-to-date, with trading volume of $2.3 billion during that period.

Ethfinex's interface is similar to that of the Bitfinex exchange.

Only 0.5% of all cryptocurrency assets are held in hot wallets. The rest of the volume, according to representatives of the site, is stored in cold storage. User accounts are protected by two-factor authentication and encryption.

Trading functionality.

A wide selection of trading tools for analysis and margin trading with leverage up to 3.3. 

There is access to trading tokens based on ERC-20, the right to take part in crowdsales.

A large number of different types of orders, including limit, market and stops. The types of functions available are trailing stop, fill or kill, iceberg and many others. Maker commission ranges from 0.1 to 0.0%.. takers - from 0.1 to 0.2%. 

Ethfinex is constantly expanding its listing and this week added support for VeChain (VEN), Maker (MKR), Kyber Network (KNC) and POA Network (POA). Against the background of this news, assets showed a moderate increase in the range from 5 to 11 percent.