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Bitfinex Lists NYM Token to Enhance Digital Privacy
Bitfinex, a leading digital asset trading platform, has recently announced the listing of the NYM token, the native cryptocurrency of Nym Technologies. Nym Technologies is renowned for its innovative approach to enhancing online privacy through decentralized mixnet technology, which works to protect network-level metadata.
The Role of NYM Token in Privacy Infrastructure
The NYM token plays a crucial role within the Nym mixnet and Appchain, providing users with network access, facilitating transaction fee payments, and supporting the privacy infrastructure. The mixnet technology is specially designed to route network traffic in a way that prevents traceability, even from global internet surveillance systems.
Availability Across Multiple Blockchain Standards
The NYM token is available in two formats – as an ERC-20 token and as a native token on the Cosmos blockchain. This dual availability allows users to interact with the Nym ecosystem and delegate tokens. Bitfinex will exclusively list the NYM mainnet token on Cosmos, providing customers with the option to deposit the ERC-20 variant, which can be converted to the mainnet token using Bitfinex’s currency conversion tool for trading purposes.
Trading and Market Dynamics
NYM deposits will open at 12:00 PM UTC on October 8, 2024, with trading scheduled to commence at 10:00 AM on October 10, 2024, subject to liquidity conditions. The NYM token will be tradable against US Dollars (NYM/USD) and Tether tokens (NYM/USDt), expanding the trading options for Bitfinex users.
Bitfinex’s Commitment to Privacy and Security
Henry Child, Head of Tokens at Bitfinex, expressed excitement for the listing, stating, “We’re pleased to offer NYM to our customers and to support Nym Technologies in their efforts to enhance privacy and security in the digital space.” This move aligns with Bitfinex’s commitment to providing robust support and innovation for experienced traders and liquidity providers worldwide.
Stay tuned for more updates on the NYM token listing and other valuable information in the world of cryptocurrency and blockchain technology. For further details, visit Bitfinex’s official website.
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