Bitfinex has announced the introduction of 12 new ERC-20 tokens. Among the tokens listed is Dai – a stablecoin competitor to Tether.
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Bitfinex Announces Trading Pairs for 12 New Altcoins
On April 7th, Bitfinex announced via Medium the introduction of 12 new altcoins on its trading platform. All of the new tokens are ERC-20 tokens (the technical standard for smart contracts hosted on the Ethereum blockchain).
The newly supported altcoins are Aion (AION), Iostoken (IOST), Request Network (REQ), Raiden Network (RDN), Loopring (LRC) Bnktothefuture Token (BFT), Cofound.it (CFI), Wax (WAX), Singularitynet (AGI), Medicalchain (MTN), Odem (ODEM), and Dai (DAI).
BTC, ETH, and USD trading pairs for the newly supported altcoins went live at 4PM UTC on April 7th. Bitfinex’s announcement stated that “The newly introduced token listings have a combined market capitalization of $1.1B+ USD.” Margin trading and lending markets for the new tokens “will be enabled gradually, as sufficient liquidity develops.”
Notable Listings Include Dai and Bnktothefuture
The newly listed ERC-20 tokens include Dai, “a digital, decentralized stablecoin built on Ethereum.” The listing of Dai is significant, as the project appears to be in direct competition with major stablecoin, Tether – which shares the same directors as Bitfinex. The exchange stated that “Dai will initially be made available against BTC, ETH, and USD whilst we explore the possibility adding additional DAI pairs.”
The listing of Bnktothefuture Token is also notable, as Bnktothefuture appears to own shares in Bitfinex. Bnktothefuture was also involved in the controversial conversion of BFX tokens into equity in Bitfinex following the devastating hack suffered by the exchange in 2016. On August 22nd, 2016, Bitifinex “formally signed a letter of intent with Bnktothefuture
