The Ethfinex Roadmap

In a push to increase the transparency of cryptocurrency exchanges & trading platforms, we are committed to providing a fully transparent look into our activities, objectives and development roadmap.

Ethfinex is a platform built for the Ethereum community. With a vision to be the world’s most community-centric digital asset trading & information hub, the future value of Ethfinex is largely a product of facilitating and harnessing trust.

In a push to increase the transparency of cryptocurrency exchanges & trading platforms, we are committed to providing a fully transparent look into our activities, objectives and development roadmap.

Development Update

Currently we are hard at work finalising the Nectar Token. The Nectar Token model and contracts are complete and are currently going through several rounds of review, after which we will be starting a bug bounty program.

The Ethfinex exchange platform, API’s and design are complete, and our token discussion platform is in development, being finalised in preparation for our upcoming beta launch.

We have completed architecture design for integration with 0x, which will allow for decentralised settlement of trades.

We are focusing on the development of strong relationships with a variety of exciting teams throughout the Ethereum ecosystem. Many teams have displayed an interest in contributing to both the discussion and token sale dimensions of Ethfinex, and we are excited to be able to announce the details of these relationships in the next few weeks.

Phase 1: Ethfinex Launch

Phase 1 of the roadmap is focused around the initial launch of Ethfinex, commencing with the launch of a (largely centralised) community discussion & investment platform for ERC20 tokens built on Bitfinex’s in-house trading platform.

Using this base will ensure high liquidity, transaction speeds and scalability from the start whilst decentralising the platform using Grenache, a microservice architecture created by Bitfinex.

Phase 1 will provide Ethfinex users with access to a community-driven platform for research, discussions and the crowdsourcing of information. This community information hub will implement a user/project reputation system, allowing users to analyse, categorise and filter projects and thereby identify the best tokens and optimise trading decisions.

Building on this, Ethfinex will provide access to an ERC20 token investment hub with direct access to established projects and token sales.

Phase 1 will also see the creation of the Ethfinex Nectar Token. Initially owned by Ethfinex, the Nectar Token will gradually be distributed to Ethfinex users as the platform grows and the intricacies of our reward, issuance and governance mechanisms are refined.

Throughout this phase, Ethfinex will look to continuously integrate with projects throughout the Ethereum ecosystem. This means tailoring the platform for ERC20 tokens and the wider Ethereum ecosystem — e.g. through enabling deposits & withdrawals with ENS addresses.

Phase 2: Hybrid Decentralised Exchange (4-6 months)

Phase 2 of our roadmap focuses on the implementation of the Hybrid Decentralised Exchange Model, designed to accelerate the development of trustless exchanges.

As the field of on-chain exchange matures and new exchange protocols materialise, Ethfinex hopes to act as a zone for experimentation and innovation, accelerating industry-wide learning and facilitating the development of optimal exchange protocols.

Ethfinex will distribute APIs and open-source smart contract tools through which to integrate & interface with other projects and exchange protocols throughout the Ethereum ecosystem. Planned integrations currently include the likes of Melonport, 0x, Blocknet and more.

Further integration throughout the Ethereum ecosystem is planned, including the development of Ethereum-based fiat tokens with, and these relationships will be announced when the integration details are fixed.Lastly, it is in this phase that the community element of the Nectar Token truly manifests itself as user ownership of Ethfinex increases. This increase will bring with it the creation of a Nectar Token governance advisory board, through which larger token holders (or smaller coalitions) can elect representatives and influence the vision and direction of Ethfinex.

Phase 3: Evolution (6+ months)

Phase 3 is broad by nature and entails the long-term evolution of Ethfinex as it cements itself as the most community-centric and liquid digital asset exchange & information platform available. Ethfinex is envisioned as the home of digital tokens trading & analysis — a community, resource and information hub designed educate and inspire whilst providing access to the most advanced and liquid trading platform available.

It is in this phase that our vision of complete community ownership unfolds, through means of the Nectar Token. Over time, as Ethfinex’s ownership stake decreases, future governance and roadmap decisions will be orchestrated by a community of users.

As Ethereum evolves and matures, with proof of stake, sharding and Raiden all in the pipeline, Ethfinex will gradually transition to full decentralisation of funds, with no requirements for funds to ever be in the custody of Ethfinex. This will position Ethfinex as a truly trustless exchange platform.

The inherently agnostic nature of the Hybrid Exchange Model will allow for Ethfinex to continuously integrate with models of decentralised exchange, as they emerge. Our hope is that this will facilitate industry-wide learning, to the benefit of everybody.

The details of the Nectar Token & the Decentralised Exchange Model are still subject to further change pending feedback and community review. The exact dynamics must be observed in practise, and the difficulties associated with precise modelling makes future iterations likely. Feedback of any kind is welcomed with open arms and can be directed to /r/ethfinex or [email protected].

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