Friday, July 1, 2022

Eosfinex set to list 18 DeFi tokens from Ethereum

Eosfinex, the Bitfinex-backed noncustodial trade working on the Eos community, introduced the itemizing of greater than 15 ERC-20 tokens, primarily consisting of governance tokens of main decentralized finance protocols on Ethereum.

The itemizing is made potential by a collaboration with pNetwork, a crypto-asset wrapping network that already introduced cryptocurrencies corresponding to Bitcoin (BTC) and Litecoin (LTC) to Eos and Ethereum. The pNetwork tokens are distinguished by their decrease case “p” prefix — for instance, “pBTC” and “pLTC.”

The itemizing on Eosfinex will happen in a number of phases. The primary, scheduled for Thursday, will deliver Uniswap’s token (pUNI), Band Protocol (pBAND), Balancer (pBAL), Compound (pCOMP) and Synthetix (pSNX). The second, on Tuesday, will launch buying and selling for OMG Community (pOMG), Dai (pDAI), Aragon (pANT) and Loopring (pLRC). The ultimate part on Dec. 22 will add Extremely (pUOS), Augur (pREP), Fundamental Consideration Token (pBAT), 0x (pZRX), and Kleros (pPNK). Maker (pMKR), (pYFI), Chainlink (pLINK) and Aave (pAAVE) will even be launched at an unspecified date.

The itemizing of this big selection of tokens is aimed toward bolstering the Eos DeFi ecosystem. A wide array of belongings would enable Eos-native lending and derivatives protocols to entry extra liquidity, in line with Eosfinex. Steven Quinn, head of product at Eosfinex, commented on the integrations:

“EOS and EOS-based organizations should ship options to satisfy this problem and strengthen the blockchain’s declare as probably the most performant, dependable, and cost-effective sensible contract platform. One of the simplest ways to do that is to assist the following wave of DeFi innovation.”

Eosfinex is a hybrid noncustodial trade that also makes use of a central matching engine — much like some Ethereum exchanges based on layer-two technologies.

PTokens work by means of an analogous mechanism to the RSK sidechain federation for Bitcoin.  A set of validators performs the peg-in and peg-out transactions with particular {hardware} units that assure safety from most types of tampering.