On September 17, Ethfinex announced launch of a trustless portal, Ethfinex Trustless.
With Ethfinex Trustless there are no signups, no deposit or withdrawal delays and no sacrificing custody of users tokens. Users retain full control of their funds throughout the entirety of the trading experience whilst executing trades against a highly liquid off-chain order book.
According to the announcement, Ethfinex allows for seamless trading through means of Ledger and MetaMask, providing trustless, anonymous and high-liquidity trading solutions to over 57 Ethereum based tokens.
Ethfinex Trustless features:
- No sign up requirement
Users get trading immediately. The exchange doesn’t want your name, email, phone number or address.
- Maintain full control
Maintain full control of your funds at all times by connecting directly via MetaMask, Ledger, Trezor or Keystore. Trading cryptocurrencies does not have to involve counterparty risk.
- Connect to centralised order books
Ethfinex Trustless allows users to trade directly against the Bitfinex and Ethfinex order books, removing the liquidity constraints associated with current decentralised exchanges.
- Instantaneous trading
Connecting via user’s wallet removes the need for deposits & withdrawals whilst the exchange’s off-chain matching system ensures instantaneous order execution.
Platform roll out
For the first 2 weeks users will be required to hold at least 1 Nectar token (NEC) in their Ethereum wallet in order to trade. This access token ensures the exchange’s team has some visibility over who is using the platform, and allows them to provide immediate assistance if any unexpected issues arise.
The initial pairs will be as follows:
- Ethereum: ETH/USDT
- OmiseGo: OMG/USDT & OMG/ETH
- 0x: ZRX/USDT & ZRX/ETH
Following a successful roll out week, 40+ tokens including Dai pairs will be added. The architecture is currently designed so that it can also seamlessly upgrade to use the new 0x V2 smart contracts once they have been thoroughly tested.