DeversiFi: Ethfinex splits from Bitfinex. But why?
DeversiFi: Ethfinex splits from Bitfinex. But why?

DeversiFi: Ethfinex splits from Bitfinex. But why?

By Amelia Tomasicchio - 16 Aug 2019

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The Ethfinex exchange published an official statement announcing its rebranding, explaining that the name of the company will change into DeversiFi.

DeversiFi will be a completely independent exchange with the aim of providing users with a wide range of financial products and services directly from their private wallets, while the IEO (Initial Exchange Offering) platform, Tokenix, will remain on Bitfinex. 

Interviewed by The Cryptonomist, Giancarlo Devasini, CFO of Bitfinex, explained:

“Will Harbornehas decided at this time to create a completely decentralised exchange. This is part of the natural evolution of Ethfinex and something that was always planned for the exchange. We have obviously remained on good terms, but Bitfinex will have no strategic or operational role in DeversiFi going forward.

Devasini added,

“Final agreements have not yet been entered into, but Bitfinex believes that its neutrality among different technologies and blockchains – not just Ethereum – has been and will continue to be the key to its success.”

Ethfinex was Bitfinex’s platform where it was possible to trade ERC20 tokens and participate in the token sales. 

Moreover, to improve efficiency, DeversiFi will integrate a decentralised margin lending protocol, bZx Fulcrum, achieving greater transparency. 

Future updates will include the new Nectar 2.0 token, the necDAO and a mobile application for smartphones. 

Finally, it is worth mentioning that Harborne will be present at the Berlin Blockchain Week at the end of August , and more details about the project will be released in the coming months.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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