Bitfinex First Major Exchange to List Shimmer, Heralding Dawn of New ‘Chain-of-Chain’ Ecosystem - Bitfinex blog
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Bitfinex First Major Exchange to List Shimmer, Heralding Dawn of New ‘Chain-of-Chain’ Ecosystem

ROAD TOWN, British Virgin Islands – September 30 2022 12:00 PM UTC  – Bitfinex (https://www.bitfinex.com/), a state-of-the-art digital token trading platform, is the first major exchange to support Shimmer (SMR), the official incentivized staging network and chain-of-chains of IOTA (MIOTA), an open-source, permissionless distributed ledger.

Shimmer and its tokenization framework creates the basis for the protocol to become a multi-chain network enabling interoperability across blockchains that is feeless and allows for bridgeless cross-chain transfers and composability, according to the IOTA Foundation.

The IOTA Foundation advocates feeless tokenization as representing an evolution in the digital token economy and an advance from the ubiquitous smart contract based ERC-20 tokens. Being able to tokenize anything in an instance on a Layer 1 chain positions Shimmer as a feeless “chain of chains”, making the SMR token the natural standard to “tokenize everything,” according to the IOTA Foundation. 

Bitfinex was the first exchange to list IOTA in 2017, and is today the first major exchange to list its very first offspring, Shimmer. 

“Shimmer comes with a powerful tokenization framework, offering unprecedented utility for feeless Layer 1 tokenization, and at the same time will offer scalability and composability for smart contract chains in a multi-chain architecture,” said Dominik Schiener, Chairman of the Board of Directors and Co-Founder at the IOTA Foundation. “We are extremely happy to have Bitfinex as a major exchange listing our vision of a ‘chain of chains’, allowing anyone to harness the power and potential of Web3.”

*All users of www.bitfinex.com are subject to Bitfinex’s terms of service (“TOS”). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on www.bitfinex.com. 

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About Bitfinex

Founded in 2012, Bitfinex is a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market, and financed trading for a wide selection of digital assets. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for professional traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

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