We're pleased to announce some exciting new updates to margin trading on Bitfinex.
Margin trading is available on Tezos pairs (XTZ/USD), (XTZ/BTC) and Stellar pairs (XLM/USD), (XLM/BTC) at 08/14/2019 2:00 PM (UTC). These pairs can be traded with an initial equity of 50% and maximum of 2x leverage.
In addition, our clients will now have more crypto options that can be held as collateral for margin trading, namely XTZ, XLM, Cosmos (ATOM) and Ampleforth (AMPL), with a haircut of 50%. For further information, visit the Bitfinex knowledge base: Intro to Margin Trading
Previously, only margin-tradable crypto could be held as collateral for margin trading. With our new risk management system, we can allocate different levels of risk for different tokens. The maximum leverage or initial margin requirements can be adjusted according to the token's associated risk. As such, we are now able to add new non-margin crypto, in this instance ATOM and AMPL, to our stable of collateral currencies. More will be added in the near future.
In response to client demand, we're excited to offer unverified users the opportunity to upgrade their accounts and obtain access to the many products and services available to verified account holders. Intermediate verification level status can be obtained without having to provide bank account details.
With the multiple benefits of a verified account on offer, we invite all unverified users to begin the verification process today to enjoy an enhanced Bitfinex trading experience: bitfinex.com/verification
For more information, please refer to the following announcement: Bitfinex Enables Intermediate Verification Level
Bitfinex will be performing a system upgrade on Thursday, August 1st designed to enhance the stability and scalability of the iFinex matching engine.
The upgrade is set to commence at 9.30AM UTC and services will be offline for 2 – 3 hours. Please note that this is a rough estimate and the precise time may change slightly based on market movements.
The platform upgrade will require taking all iFinex trading platforms offline for the duration of the maintenance period. This means that traders across both Bitfinex and Ethfinex will be unable to trade, view or access their wallets during the update.
We kindly ask all our traders to plan ahead accordingly and make the necessary account adjustments prior to the start of the platform upgrade.
Traders across Bitfinex will not be required to take any actions:
For more information on the day of the upgrade, please refer to the Bitfinex status page and Twitter account for official progress. We will let our users know 5 minutes before the platform re-opens. Trading will start 10 minutes after the platform is accessible again.
We appreciate your patience during the system upgrade and we look forward to presenting you with an improved trading experience.
Bitfinex has enabled full support for EOS-based USDt deposits and withdrawals. To deposit EOS-based Tether to Bitfinex, visit bitfinex.com/deposits/tether/ust. Please note that full KYC verification is required to deposit and withdraw USDt to Bitfinex.
By bringing Tether to EOSIO, Tether strives to unlock the true potential of a blockchain-based stablecoin by appealing to individuals seeking a borderless, efficient, and free peer-to-peer value transfer.
The launch of EOS-based Tether on Bitfinex follows today’s complete launch of eosfinex - a fully on-chain trading experience combining the speed and scalability of EOS with the expertise of Bitfinex. Visit eosfinex here.
Bitfinex has enabled full support for Tron-based USDt deposits and withdrawals. To deposit TRC-20 Tether to Bitfinex, visit bitfinex.com/deposits/tether/ust. Please note that full KYC verification is required to deposit and withdraw USDt to Bitfinex.
TRC20-based USDt is a Tether token interoperable with the Tron protocol. Announced in March 2019, TRC20 USDt seamlessly facilitates the movement of fiat-pegged tokens across the Tron blockchain network, bringing extensive access and interoperability to applications built on Tron.
On Monday July 29th, Bitfinex has introduced trading for the highly anticipated RenrenBit RRB token.
Trading will be enabled against USD and USDt, with 0% maker fees for the first 30 days of trading. Margin and funding markets will be enabled as sufficient liquidity develops.
RenrenBit is a secure and transparent digital bank built on blockchain.
Established in August 2018, RenrenBit has successfully developed a product centered around four core pillars - deposit, trading, lending and automated investment.
The RRB token is a digital token playing an essential role in the growth of the RenrenBit ecosystem through the provision of platform discounts, acting as lending collateral and much more. In addition to this, RenrenBit will commence a token buyback program, buying up all RRB tokens using platform revenues.
The initial price of RRB was 1 USDt. The circulating supply is 23,100,000 with the total supply set at 42,000,000.
Trading for RRB has been enabled at 10 AM UTC on Monday July 29, and users are now able to deposit, place orders and make withdrawals for RRB.To view the RRB markets, click here.
To stay up to date, follow us on Twitter and Telegram and for any questions, reach out to us on Bitfinex Support.
Earlier today, we were contacted by Frank Chaparro of The Block seeking comment on a story about an unnamed person opening a Bitfinex account from New York and then withdrawing digital tokens from that account.
We have now identified this user. We correctly flagged this user’s IP address as being in the U.S. Notwithstanding the U.S. IP address — which may be used by Bitfinex customers, as appropriate — our system logs demonstrate that this user represented to us several times that he was not an individual resident in the U.S. This person has lied to Bitfinex on multiple occasions, deliberately and wrongly concealed his location, and flagrantly violated our terms of service.
We think it’s unfortunate that Mr. Chaparro would rather associate himself with these actions than actively attempt to help us uncover and punish fraudulent behaviour on our platform. This kind of ‘gotcha’ sting also speaks volumes about his and our other detractors’ true motivations.
We have disabled the account involved in this case. We reserve the right to report this and other fraudulent behaviours to appropriate authorities. Finally, we remind United States persons that they are not welcome on our platform and that we will continue to take action to enforce our rights and fulfill our legal obligations.
Trading has been enabled for Ultra (UOS) against BTC and USD on both Bitfinex and Ethfinex.
Ultra is a protocol and platform positioned to disrupt the 140bn USD gaming industry, using blockchain technology to allow anyone to build and operate their own game distribution platform or virtual goods trading service.
Ultra was the third successful sale on Tokinex, raising $5m in total and selling out in less than 35 seconds.
Both markets are subject to zero percent maker fees for three months following the listing.
Find out more about Ultra on the Ultra Tokinex page
Ultra (UOS) is now available to trade on Bitfinex against BTC and USD.
In celebration of Ultra’s successful token sale on Tokinex, all traders benefit from 0% maker fees on UOS trades until October 17th - three months following today’s listing.
Start trading UOS here.
To learn more about Ultra and the UOS token, please visit the Ultra Tokinex page.
As of Sunday July 14th, a proportion of revenues from margin funding activities on Bitfinex have been allocated to UNUS SED LEO token redemptions. A minimum of 27% of all revenues from margin funding activities will be used to purchase UNUS SED LEO from the open market.
To mark the launch of the funding fee redemptions, we successfully concluded the buyback of 27% of funding fees accrued throughout the previous 40 days on Sunday evening, 18.00 UTC.
Over the past two months we’ve added numerous fee benefits to UNUS SED LEO token holders, including an array of taker fee reductions. To view your account-specific fee discounts, visit bitfinex.com/fees. More UNUS SED LEO fee benefits are set to go live over the course of the coming weeks and we remain committed to growing the range of advantages for traders on Bitfinex.
For more information, please refer to today’s complete announcement: “Revenues From Margin Funding Dedicated To UNUS SED LEO Redemptions”.