Bitfinex to List TAIKO, Native Token of Ethereum Layer-2 Network Taiko

Bitfinex,
a
premier
digital
asset
trading
platform,
has
announced
that
it
will
be
among
the
first
exchanges
to
list
TAIKO,
the
native
token
of
Taiko.
This
Ethereum-based
layer-2
network
focuses
on
enhancing
scalability
and
reducing
transaction
costs,
according
to

blog.bitfinex.com.

Understanding
Taiko

First
launched
in
2022,
Taiko
is
an
Ethereum-equivalent
ZK-Rollup.
This
technology
uses
Zero-Knowledge
Rollup
to
process
multiple
transactions
in
batches,
significantly
reducing
costs
and
enhancing
transaction
speeds.
Operating
as
a
Layer-2
solution,
Taiko
maintains
the
decentralized,
permissionless,
and
secure
attributes
of
the
Ethereum
mainchain
while
improving
scalability.

Taiko
has
already
demonstrated
its
potential,
executing
six
testnets
involving
over
1.1
million
unique
wallets,
more
than
30,000
proposers,
and
over
14,000
approvers,
as
stated
on
their
website.

TAIKO
Token
Features

TAIKO,
the
native
token
of
the
network,
offers
various
functionalities
to
its
holders.
It
grants
governance
voting
rights,
supports
Taiko’s
rollup
solutions,
and
enables
yield
earning
for
proposers
and
approvers.
The
token
aims
to
underpin
the
network’s
operation
and
facilitate
community
participation
in
governance.

Listing
Details

Bitfinex
plans
to
open
deposits
for
TAIKO
at
approximately
10:00
AM
UTC
on
June
4th,
2024,
with
trading
expected
to
commence
at
around
1:00
PM
UTC
on
June
5th,
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
enthusiasm
about
the
listing,
stating,
“We
are
thrilled
to
add
TAIKO
to
our
extensive
range
of
listed
tokens.
At
Bitfinex,
we
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
offering
a
range
of
advanced
trading
features
and
tools.
The
platform
provides
access
to
peer-to-peer
financing,
an
OTC
market,
and
margin
trading
for
a
variety
of
digital
tokens.
Bitfinex
focuses
on
delivering
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.

Image
source:
Shutterstock

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