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Good News! Efinity (EFI) Token by Enjin Launches on Poloniex Exchange

Efinity (EFI) Token News
  • Enjin’s Efinity is now live on Poloniex.
  • Justin Sun revealed in a tweet that generated various reactions.
  • Efinity EFT native token trades at $0.8723.

The world’s cross-chain NFT blockchain, Efinity, is now live on Poloniex Exchange, Tron and BitTorrent CEO Justin Sun announced on Twitter. Similarly, Sun also signaled that ‘GameFi, NFTs, NFTfi, Metaverse should be on the lookout as more news is yet to come with Efinity.’ Poloniex holds over 200 cryptos with 25 trading pairs.

The news came with varied reactions on his timeline. Some applauded the move while others begged to differ. Of note, one netizen feels EFI is the next metaverse that will facilitate NFT and GameFi growth. Meanwhile, an aggrieved netizen says if Justin Sun ‘is not careful all his Tron ecosystem will become the weakest in the current bull run’. Another, supported the tweet while writing ‘he only makes money, don’t [doesn’t] care about holders.’

Going back, in March, Enjin — an energy-efficient, scalable, and innovative platform for developing NFTs, unveiled Efinity, and stated that the project is at Phase 1 of the roadmap. Efinity is a blockchain for non-fungible tokens (NFTs) built and managed by Enjin.

With its fast transaction utility, Efinity payments are confirmed in 6 seconds and scale to 1000 TPS, in contrast to the Ethereum network which runs at around 15 TPS. Efinity is created as a parachain on Polkadot. In the future, Efinity developments will introduce Enjin Coin (ENJ) staking. This will allow users to earn EFI rewards.

Based on its token, EFI will be the main utility of NFT.io, Subsequently, earned EFI will be required to farm exclusive NFTs and also, take part in the NFT.io network. 

From this moment, users can begin depositing EFI into their Poloniex account. Among other things,  Poloniex is a cryptocurrency exchange established in 2014 by Tristan D’Agosta in San Francisco, California. Other than that, one major perk of Poloniex is that it offers its users access to either offer or demand a loan on the exchange for a specified interest rate.

In other respects, the news of the listing comes two months after the U.S. Securities and Exchange Commission revealed Poloniex agreed to pay close to $10.4 million. The SEC alleges that Poloniex agreed to settle charges for operating an unregistered online digital asset exchange.

On the other hand, Poloniex reveals on September 23 that it will launch Referral 2.0, Tpunks NFT collectibles, Poloneer Star. The launch is in their bid to give back to users with many other programs on board.

By the way, EFI currently trades at $0.8723 with over 55 million EFI in circulation. The trading volume of $4, 288,762. This means EFI gained over 18.93% in the last 24 hours according to CoinMarketCap.

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Juliet is an ardent reader and a devoted creative writer who has now immersed herself in writing about cryptocurrency and blockchain. She talks behind her keypad and relishes her thoughts through writing articles, reviews, and press releases.