Bitfinex Offshoot Exchange Will Host Cofound.it Tokens to Boost Liquidity
Tokens from incubator Cofound.it will find their way onto Bitfinex daughter exchange Ethfinex when it launches later this quarter.
In a blog post Wednesday, the two startups, which have a vested interest in expanding trading of hosted digital tokens, described the partnership as “a shared long-term vision to provide services that support the entire blockchain ecosystem.”
Ethfinex traders will also be able to invest directly in presales of Cofound.it projects in a two-way deal.
The platform is due to enter its Beta launch phase by the end of the year.
Commenting on the move, Ethfinex project lead Will Harborne focused on security and integrity of ERC20 projects, with Cofound able to provide “trusted partners.”
“The due diligence required to uncover real quality in a space growing this fast is extremely difficult, and building these networks of trusted partners is one of the ways we will solve this problem.”
“The other way is through the analysis and discussion section of Ethfinex, where our users can contribute to the continuous vetting of these projects.”
The $2 bln ICO market has faced its fair share of problems in Q3 2017, with legal stature now becoming a major consideration of platforms offering guidance and other services to token issuers.
As ‘hybrid’ Ethfinex attempts to disrupt the market with a combined exchange and information platform for ERC20 tokens, Ethereum co-founder Vitalik Buterin recently tweeted public support for the decentralized crypto-to-crypto exchanges, specifically EtherDelta.