Ethfinex

Ethfinex is a smart contract based decentralized cryptocurrency exchange built using Ethereum that is headquartered in Hong Kong and was founded in August 2017 by Giancarlo Devasini, Paolo Ardoino, and Will Harborne. Ethfinex and the Ethfinex team spun out of the cryptocurrency exchange Bitfinex with the vision of creating a customer centric and liquid digital asset exchange platform.

The platform uses its own native cryptocurrency token based on the ERC20 token standard called the Nectar Token (NEC). Ethfinex features include spot trading, margin trading, and peer-to-peer funding & decentralized trading of Etherum tokens.

What is Ethfinex?

The Nectar token is rewarded to Ethfinex market makers as loyalty tokens for providing liquidity to the platform. The Nectar loyalty rewards token is generated from the transaction fees charged by Ethfinex, and will gradually make the platform more decentralized as more Nectar tokens are distributed to users. 50% of all trading fees on the Ethfinex platform paid by makers and takers are directed into a smart contract that rewards NEC to liquidity providers at the end of each month in proportion to the total trading volume they engaged in that month. Holders of Nectar are able to participate in the governance of the decentralized Ethfinex exchange.