Ethfinex Trustless Launches ERC20 OTC Token Trading Service
Ethfinex Trustless, a non-custodian exchange owned by Bitfinex’s parent company, this Monday opened the possibility of making deals on its platform outside the main order book.
Ethfinex’s OTC service allows users to exchange any ERC20 tokens, including those that are not currently listed on the main platform. The commission for using the service is 0.02%.
To conclude a deal, it is necessary to select the token that the user wants to offer for exchange, and indicate its quantity, and then do the same for the token for which the exchange is carried out. At the next stage, the user’s tokens are blocked, and he is provided with a link, which must be shared with the transaction partner..
After the partner fulfills the established requirements on his part, the exchange will transfer funds in favor of both parties to the transaction. Before the end of the calculations, the user can cancel his offer at any time..
Thus, the Ethfinex Trustless OTC service does not search for partners to conclude OTC transactions, but only provides a means to reduce risks in the process of their execution..
Ethfinex Trustless launched last September. In March, the exchange migrated to the 0x V2 decentralized exchange protocol.
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