DeversiFi Reveal First Month Performance Report

DeversiFi Reveal First Month Performance Report

DeversiFi, the re-brand of popular platform Ethfinex, yesterday revealed the details of their first-month operations in their new format.

Already the new-look platform has set about making its presence known in the world of cryptocurrency and blockchain. At the end of September, they assisted an EU commission that focuses on digital asset regulation, before last month, launching their first main internal venture known as the Trust Community which hopes to further the widespread implementation of their Nectar token, plus a new whitepaper recently released for community review detailing the future of the token.

As such, they have been eager to hit the ground running and now, with the release of this first set of data we see the level of success witnessed so far as a result of these first steps in DeversiFi’s history and what’s on the horizon.

Key Performance Indicators

The elements they discussed in the new report focus on their KPIs, which are reflective of using volume and customer numbers. What they have so inferred is that have so “proven its appeal only to a small number of niche customers, particularly doing specialised arbitrage trading.”

Seemingly stating that progress has so far been slow. However, of course, it is early days with the new-look, new-feel site and so this is to be expected. According to the platform, the plans are to slowly roll out regular updates about their clientele, and level of customer satisfaction.

Short Term Plans

When they launched, Deversifi stated that this led to them to create a whole new legal, regulatory and numerous other frameworks which a new business needs. This they have so far achieved, but they are not yet done, it seems. With the platform outlining a three-part short-term plan that encompasses, performance improvement, scaling technologies and new features.  These break down as follows.

Performance

Furthering on the work of Ethfinex Trustless, a ‘hybrid’ exchange that offered decentralised custody, Deverisfi are hoping to fine-tune this formula.  This will further the project to one that is much for fit for purpose with the following element stated to be incorporated:

  • Faster response & trading times – especially for advanced API traders
  • Partial orders will not be cancelled and partial order handling will behave as expected
  • Locked balances will update faster, fixing bugs where balances are sometimes slow to update in certain circumstances

Scaling Technologies

The main element that this involves is the result of a new partnership with StarkWare, a firm whose technology’s aim is to bring a trustless setup, bringing privacy and scalability t. The key element this allow Deversifi is to acquire the rate of trade settlement required for the large userbase they are hoping to draw in. However, more details are set to emerge concerning this in the coming weeks which users show stay tuned for.

New Features

As well as these new features, which are other changes that will benefit users at a Marco level, these concern a proposed Margin Trading service, scheduled fee change, the launch of what they have referred to as the world’s largest DAO due to go live in December.

In terms of their native Nectar Tokens, a plan to burn a large number of them is also on the cards. As such, there is plenty to look forward to at Deversifi in the coming weeks and months.

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

ChangeNOW,Cryptocurrency,Investment

ChangeNOW Launches The NOW Tracker App

The young, but fast-growing online cryptocurrency exchange, ChangeNOW, has just announced the release of its latest product. The NOW Tracker is a free asset management app that lets users keep track of their coins and tokens across different wallets. Available on Google Play and the App Store, NOW Tracker is flexible and functional. This solution […]

9 September, 2021
eToro,Investment,Trading

eToro Becomes An Official Partner Of RB Leipzig

The world’s leading social investment network, eToro, has recently announced a new and exciting partnership. According to an announcement on eToro’s Twitter page, the company has become the latest partner of the German football team, RB Leipzig. A two-year partnership agreement has been signed between the parties. Running until 2023, this agreement can be extended […]

24 August, 2021
Binance,Bitcoin,token

PSG’s Messi To Receive Part Of His Salary In Cryptocurrency

The Argentinian footballer, Lionel Messi, has made headline news several times in the past few weeks. Following his surprise departure from FC Barcelona, the player confirmed that he will be joining Paris Saint-Germain FC. The move was significantly newsworthy but got even more interest when it was announced that part of the footballer’s salary will […]

23 August, 2021
Blockchain,Casino,Ethereum

KingTiger Casino Announces Shut Down

KingTiger Casino has announced that it has ceased all operations until further notice. According to its website, the casino has had to “temporarily close” due to Ethereum network congestion. It is not yet clear if and when this online Bitcoin casino will reopen. Registered players can still access their wallet and withdraw their funds. A […]

12 August, 2021
Binance,Casino,Cryptocurrency

CryptoCasino Announces Temporary Close

CryptoCasino has stopped operating until further notice. According to a landing page on their website, the casino is undergoing an update. There is no information about when the casino will reopen or the reason why an update required the website to shut down temporarily. Players who hold a crypto wallet account with CryptoCasino need not […]

11 August, 2021
Binance,Bitcoin,SEPA

Binance Suspends SEPA Inward Payments Until Further Notice

Binance Suspends SEPA Inward Payments Until Further Notice Binance has just announced that it has temporarily stopped all incoming SEPA payments. As a result, users will no longer be able to deposit euros using the primary European payments network. The world’s largest cryptocurrency exchange did not provide any specific information regarding the reason behind this […]

12 July, 2021
Bitcoin,Cryptocurrency,Investment

Why are Crypto Holders Worried of Declaring Their Ownership?

Cryptocurrencies have been popularly regarded as the future of finance globally. Investing in virtual coins has become a lot easier than it was a few years ago with the evolving crypto industry. Over the last few years, Bitcoin has caused a lot of buzz in the market. It has established itself as the de facto […]

8 July, 2021
Bitcoin,CoinMarketCap,Trading

Bitcoin On The Rebound Following Elon Musk’s Latest Announcement

The price of the world’s largest cryptocurrency is rising again following the latest comments from Elon Musk. Bitcoin’s price has climbed and stayed above $40,000 on Monday 14th June, following an announcement by Musk that Tesla will, once again, start accepting BTC payments. The latest comments have proven once more what a powerful influence the […]

16 June, 2021