Launched by crypto exchange company Bitfinex in February 2018, Eosfinex announced today that it will provide open source access to its core infrastructure and intellectual property. Shifting control of the swap technology from the hands of the founding team to the developer community.
The eosfinex EOS smart contract and the plugin that connects the EOS blockchain with off-chain order matching services such as Bitfinex will be made available immediately. Soon after, the eosfinex UI library will also be freely available to anyone who wants to use it.
By delivering this technology to the EOS community, eosfinex aims to decentralize the ability to build non-custody exchanges and bridges that combine the security and transparency of EOS with liquidity and powerful order matching technologies from off-chain exchange venues.
In February 2018, eosfinex was developed according to the ethos of decentralized financing (DeFi) to research and advance the development and adoption of innovative blockchain technologies. The current ecosystem is armed with resources for the next generation of developers. including the support of the eosfinex team, which is available to developers to answer questions in Github.
On March 19, 2021 at 12:00 UTC, eosfinex will deactivate all deposits. Trading will then be deactivated on March 22nd and any remaining funds in the smart contract will be returned to users. On April 2, 2021, eosfinex will be closed as the last step to make the IP freely available to the developer community.
Bitfinex will continue to support the EOS community and EOS tokens and customers who own pBTC can continue to trade it on the Bitfinex platform. In addition to opening the IP to the community, a number of EOS tokens will be listed on Bitfinex in the coming weeks.
“Eosfinex has always been a community project that focused on optimizing decentralized trading and presenting the possibilities of EOS. The eosfinex design combines the best of off-chain and on-chain technologies and we are excited to put this technology in the hands of the community. We believe they are best placed to continue moving decentralized commerce from experimental to mainstream. While we will no longer operate eosfinex directly; We look forward to seeing the technology we have developed flourish and support your evolution as a leading infrastructure provider in this space. “
– Paolo Ardoino, Bitfinex CTO
A Github repo for the eosfinex smart contract technology can be found Here.