Ethfinex added four new tokens to its exchange platform, one of them being Lympo [LYM]. BLOCKv [VEE], Dadi [DADI], and UTRUST [UTK] being the other coins were also listed on May 31st, 9.30 PM IST. The coins listed are a significant addition to the Bitfinex platform, adding a net worth of around $210 million to the exchange platform.
Pricing Changes Since Announcement
According to CoinMarketCap, Lympo, and Dadi actually went down despite the news of being listing. At the time of writing, Lympo fell by 7.5% in the past one day, to $0.122, and Dadi by 13% in the past 24 hours to $0.212. BLOCKv went up nearly 10% within 24 hours of being listed, standing at $0.035 upon listing, but eventually fell to a low of $0.033, losing up to 6% in the past day.
UTRUST increased by about 2% in the past one hour with the price at $0.114.
The coins may be traded for Bitcoin, Ethereum or US Dollars, hence the trade pairs for them run as follows: UTK/BTC, UTK/ETH, UTK/USD.
UTRUST aims to bring the benefits of PayPal together with blockchain technology, to produce a cryptocurrency that can actually feature consumer protection. This is one of their main goals – to boost emerging economies by bringing in an easy to use, secure, accessible banking system.
nikotac13, replying to Ethfinex’s announcement tweet, says:
” Utrust is the best ico of 2018!the only one that have buyer protection and it will be the next paypal! “
Bitfinex announced yesterday that the Nectar community had voted to list the aforementioned tokens. Nectar community is a governance platform for holders of the Nectar Token to monitor balances and redeem fees. The holders of these tokens may also vote on community governance proposals. These were the holders who voted to list Lympo, BLOCKv, Dadi, and UTRUST on Ethfinex.
How the Voting Works
They also announced that the vote for the next batch of tokens to be listed on the exchange is ongoing. People holding Ethfinex Nectar Tokens [NEC] are the members who get to vote on these proposals. At the start of each vote, the member receives a number of voting tokens. This number is in direct proportion to how many NEC the member has. A member may trade EVT on the EVT/USD platform.
Every two weeks, a vote is conducted to decide which new tokens are to be listed on the Ethfinex platform. The Ethfinex Listing Leaderboard says that four new tokens shall be listed for trading 11 days from now. Currently at the top of the voting leaderboard is
- Fusion [FSN] at 213k votes
- Cindicator [CND] at 146.5k votes
- BlockEx’s ICO, DAXT at 96.5k votes and
- Hubii Network [HBT] at 21.5k votes.
Note that, 21.5k votes is actually 21.5k EVT, the trading token, and not that many individual member votes.