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Bitfinex lists TAIKO, a native token of the Ethereum Layer-2 Taiko network
Bitfinex, a leading digital asset trading platform, has announced that it will be among the first exchanges to list TAIKO, Taiko’s native token. This Ethereum-based layer 2 network focuses on improving scalability and reducing transaction costs, according to blog.bitfinex.com.
Understanding Taiko
First launched in 2022, Taiko is a ZK-Rollup equivalent to Ethereum. This technology uses Zero-Knowledge Rollup to process multiple transactions in batches, significantly reducing costs and improving transaction speed. Operating as a Layer-2 solution, Taiko maintains the decentralized, permissionless, and secure attributes of the Ethereum main chain while improving scalability.
Taiko has already demonstrated its potential, running six testnets involving over 1.1 million unique wallets, more than 30,000 proposers and over 14,000 approvers, as stated on their website.
Features of the TAIKO token
TAIKO, the network’s native token, offers various features to its holders. It provides voting rights for governance, supports Taiko rollup solutions, and enables performance gains for proposers and approvers. The token aims to support the functioning of the network and facilitate community participation in governance.
Listing details
Bitfinex expects to open deposits for TAIKO around 10:00 UTC on June 4, 2024, with trading expected to begin around 1:00 PM UTC on June 5, 2024, subject to liquidity requirements. The token will be tradable against US dollars (TAIKO/USD) and Tether tokens (TAIKO/USDt).
Henry Child, Head of Tokens at Bitfinex, expressed excitement about the listing, saying: “We are thrilled to add TAIKO to our broad range of listed tokens. We at Bitfinex are proud to support developers who prioritize decentralization and scalability, as these principles are essential to the future of Web3.”
About Bitfinex
Founded in 2012, Bitfinex is a digital token trading platform that offers a range of advanced trading features and tools. The platform provides access to peer-to-peer funding, an OTC marketplace, and margin trading for a variety of digital tokens. Bitfinex focuses on providing unparalleled support, innovation and tools for experienced traders and global liquidity providers.
To learn more about Bitfinex and access TAIKO, customers can visit their official website.
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