In 2018, Bitfinex launched the decentralized platform that is known as Ethfinex Trustless. But within a year, another announcement revealed about the upcoming decentralized DeversiFi that has no link with Bitfinex. It is surprising that within a short period of time, the team is able to develop another platform; the team includes the ex-staff of both Ethfinex and Bitfinex.
Ethfinex evolves to DeversiFi bringing high-liquidity, speed and security to decentralised trading.
Learn more: https://t.co/ARWEI4ReAg
— Ethfinex (@ethfinex) August 13, 2019
The Emergence of the New Exchange
This is not the first story of rebranding as the foundation supported behind the Zcash changed to Electronic Coin Company and Huobi Global also launched a separate exchange for US users. Ethfinex has decided to break its link with broad firm Bitfinex and emerged as an independent exchange where they make their own decisions.
Reasons Behind this Re-launching
This is due to some controversies and alleged issues as the investigation of $850 million is going on under the supervision of the Attorney General of New York. As stated by Will Harbone:
It was frustrating to work in a big company. But now we’ll be smaller and leaner and work quickly. And make our own decisions
Will Harbone, CEO of DeversiFi stated:
Ethfinex Trustless has successfully scaled to the point where users can expect the same performance as that of a centralized exchange but with additional benefits in terms of security, privacy and control. We see DeversiFi as a necessary next step forward towards our goal of empowering traders through fast, convenient and self-managed decentralized financial technology
The Bitfinex has also appreciated this new initiative and welcomed it as admitted by the Paolo Ardoino, the CTO of Bitfinex.
It is incredible what the Ethfinex team has been able to achieve in such a short time. There is no decentralized exchange in the market that offers the same liquidity as existing large exchanges
DeversiFi came in the market an independent exchange with many features added that are as follows
- High liquidity
- More speed
- Security and Reliability
What do you think about this new exchange? Share your views in the comment section.