Decentralized Exchanges (DEX) are considered to be the future of exchanges and people are slowly realizing its advantages and adopting it. the same seems to be happening with Bitfinex’s Ethereum based trading solution, Ethfinex, which has recorded superior trading volumes over past 3 days clearly showing that Bitfinex’s DEX is getting stronger.
Ethfinex going stronger as it launches a decentralized asset management
Its been just three months since Bitfinex launched Ethfinex trustless and the DEX has already started doing wonders as it swiftly moves on track to achieve the best DEX position. According to the recent tweet put forward by Ethfinex, the trustless exchange has achieved in excess of USD 1.5 million daily trading volume for three consecutive days
Over the past 3 days Ethfinex Trustless has exceeded $1.5million in daily trading volume!
— Ethfinex (@ethfinex) December 13, 2018
This figure shows not only shows that Ethfinex is growing stronger but also put forward the fact that people have slowly started to believe in the concept of decentralized exchanges.
This news comes 48 hours after Ethfinex announced that it has launched a decentralized asset management network in partnership with Rigoblock. This industry-first partnership is expected to enable all Ethfinex customers to deploy, manage and trade decentralized token pools in a reinvention of the traditional asset trading model.
We are pleased to unveil the full integration of the @RigoBlock asset management infrastructure on Ethfinex Trustless!
— Ethfinex (@ethfinex) December 13, 2018
Rigoblock is a blockchain protocol that makes it possible for anyone to set up and run a decentralized token pool. Offering modular and abstract software, Rigoblock enables any developer to personalize the blockchain protocol and build their own applications.
Will Harborne, Director of Operations at Ethfinex was quoted on the official blog where announced the launch of asset management services
“We are incredibly excited to be collaborating with RigoBlock to deliver a seamless asset management experience on Ethereum. With a shared ethos to provide a democratized and decentralized trading environment for the community, we are certain that this collaboration will pave the road for fantastic developments to take place within the realm of decentralized finance.”
Bitfinex had launched Ethfinex with an overarching goal to deliver a sophisticated trading experience whilst democratizing the governance decisions surrounding a cryptocurrency exchange and it looks like Ethfinex is ticking all squares
With rising volumes and new service additions, Ethfinex has the potential to become the best DEX available today and as the world slowly moves slowly towards decentralization, Ethfinex could definitely be a prominent name in the cryptocurrency exchange industry
What are your views on Ethfinex and decentralized exchanges? Do let us know your views on the same
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.