Launched in February 2018 by crypto exchange company Bitfinex, eosfinex announced today that it will open-source access to its core infrastructure and IP; shifting control of the exchange technology from the hands of its founding team to the developer community.
The eosfinex EOS smart contract and the plugin which connects the EOS blockchain with off-chain order matching services such as Bitfinex will be made available immediately. Soon after that, the eosfinex UI library will also be freely available to anyone who wishes to use it.
By handing over this technology to the EOS community, eosfinex aims to decentralize the ability to build non-custodial exchanges and bridges that pair the security and transparency of EOS with liquidity and performant order matching technologies of off-chain exchange venues.
In February of 2018, eosfinex was built in the ethos of decentralized finance (DeFi), to research and drive the development and adoption of innovative blockchain technologies. The current ecosystem is primed with resources for the next generation of developers; including the support of the eosfinex team, who will be available to support developers by answering any questions in Github.
Closing Down Plan
On March 19th, 2021 at 12:00 PM UTC eosfinex will disable all deposits. Then on March 22nd, it will disable trading and return any remaining funds in the smart contract to users. Next, on April 2nd, 2021, eosfinex will close as the final step in making the IP freely available to the developer community.
Bitfinex will continue to support the EOS community and EOS tokens and customers who hold pBTC can proceed to trade it on the Bitfinex platform. In addition to opening its IP to the community, a number of EOS tokens will be listed on Bitfinex in the coming weeks.
“eosfinex has always been a community-driven project focused on optimizing decentralized trading and showcasing the possibilities of EOS. The eosfinex design combines the best of off-chain and on-chain technologies and we’re excited to put that technology into the hands of the community. We believe they are best placed to continue bringing decentralized trading across the chasm from the experimental to the mainstream. While we will no longer be operating eosfinex directly; we look forward to watching the technology we’ve built flourish and supporting its development as the leading infrastructure provider in the space.”
– Paolo Ardoino, CTO of Bitfinex
A Github repo for eosfinex smart contract technology can be found here.