Eosfinex integrates Wombat to manage EOS
Eosfinex integrates Wombat to manage EOS

Eosfinex integrates Wombat to manage EOS

By Alfredo de Candia - 9 Dec 2020

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In a recent statement released by Spielworks, we learn that the company has integrated the famous EOS blockchain wallet, Wombat, into the Eosfinex platform, 

Note that Eosfinex is a decentralized exchange where it is possible to trade several tokens based on the EOS blockchain, taking advantage of liquidity.

It is worth remembering that the EOS blockchain uses an account system, based on a 12-digit alphanumeric system, so it is very easy to remember and share with everyone. These accounts, however, are not free since they include the resources to manage the account, i.e. RAM, CPU and NET. Each account has minimum resources to store information such as tokens.

The integration of Wombat on Eosfinex

Instead, the Wombat wallet allows everyone to create an EOS account, and even a Telos account, for free. In this way, users can use the EOS blockchain right away, while if the user wants to export their private key, they will have to pay a small amount, about 2 euros, which would always be less than the amount required to create an account in another way. In fact, this amount usually varies from 5 to 10 euros, and it is a more complicated process for a novice user (the procedure is explained in detail in the EOS Mastering book).

Moreover, with this combination of Eosfinex with the Wombat wallet, users will be able to directly access the exchange without any particular problems, and then trade or retrieve the tokens they want, even Bitcoin, thanks to the pBTC that can be found on the EOS blockchain.

In order to achieve reliable decentralized finance, it is also important to have adequate liquidity, as pointed out by the CEO of Spielworks, Adrian Krion:

“To kick-start the cultivation of DeFi is an important milestone. Since bringing liquidity to the landscape is absolutely crucial for it’s long-term ambitions, especially when it comes to trailblazing adoption of Bitcoin on the EOS blockchain”.

Wombat therefore allows users to enter the EOS world without difficulty, commented Eosfinex’s Head of Product & Business Strategy, Steven Quinn:

“We’re very pleased to have integrated Wombat. Wombat has a strong community and has trail-blazed ease-of-use in the EOS space by providing free EOS accounts to new users. We’re excited to offer eosfinex’s liquidity to the Wombat community.” 

Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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