Altcoins
Bitfinex announces Tezos pairs XTZ/USD, XTZ/BTC and Stellar pairs XLM/USD, XLM/BTC for margin trading
Despite never-ending controversies throughout the years, Bitfinex is making several developments in the ecosystem. Bitfinex reached out to the community on Twitter announcing the latest developments. The tweet read,
We have two exciting updates to margin trading!
– Margin trading has been enabled for Tezos (XTZ) pairs and Stellar (XLM) pairs.
– XTZ, XLM, ATOM and AMPL can now be held as collateral for margin trading, with a haircut of 50%.Learn more here: https://t.co/1Ec7mUz28R
— Bitfinex (@bitfinex) August 14, 2019
The advancements were further confirmed through a blog post released by the exchange. According to the blog post, Tezos pairs like XTZ/USD and XTZ/BTC along with Stellar pairs, XLM/USD and XLM/BTC will be available on the exchange’s margin trading feature. The exchange would allow the above-mentioned pairs to be traded with an initial equity of 50% along with a maximum leverage of 2x.
Furthermore, the blog post also mentioned that the exchange has expanded its collateral choices as more number of cryptocurrencies like XLM, XTZ, Cosmos[ATOM] and Ampleforth[AMPL] have been added and could be used as collateral for margin trading with a haircut of 50%.
Additionally, the exchange also shut down its partner exchange Ethfinex and launched an independent exchange, DeversiFi. The new exchange consists of employees from the Bitfinex as well as Ethfinex however it is said to function autonomously with separate management and resources.