The introduction of 12 new altcoins has been announced by Bitfinex via Medium on April 7. All the new tokens are ERC – 20 tokens (the technical standard for smart contracts hosted on the Ethereum blockchain). Among the tokens listed is Dai – which is considered to be a stablecoin competitor to Tether. The newly supported 12 altcoins consist of 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).
Bitcoin (BTC), Ethereum (ETH) and USD trading pairs for all the newly supported altcoins were live on April 7 at 4 pm in the evening. The announcement made by Bitfinex stated that ‘the tokens listed in the new introduction have a combined market capitalization of $1.1 Billion + USD.’ As the sufficient liquidity of the new tokens would develop, the market trading and lending markets for them will get enlarged gradually.
Dai, a digital decentralised stable coin which is likely to build on Ethereum is also included in the new list of ERC – 20 tokens. The listing of Dai is considered to be significant as it is relatively a direct competition with the major stablecoins, Tether which also shares the equal directors as Bitfinex. According to a statement generated by the exchange, Dai will be initially available against BTC, ETH and USD.
Jean-Louis van der Velde, the Chief Executive Officer (CEO) of Bitfinex stated that this introduction of such a large selection of tokens which represents a different series of blockchain based projects signifies an amazing growth and development for Bitfinex. He expressed his happiness by saying that he and his entire company is proud to bring on these altcoins as they believe that every single token will help to serve a strength and enlight a unique prospect of the global blockchain ecosystem. He also added that these tokens will add some new and exciting trading options for all its users.