Bitfinex, popular Crypto trading platformAnd DeversiFi, one Two-tier (L2) trading platform Supported by StarkWare technology, the first L2 bridge was launched between centralized and decentralized exchanges, starting with the Tether token (USDt), to realize the fast and low-cost transfer of ERC-20 tokens.
Since centralized exchanges are regarded by many users as an entry point for cryptocurrencies, the new bridge will provide traders on the two exchanges with access to each platform without the need Trade on the first layer (L1) Ethereum.
“Whether it is the Lightning Network of Bitcoin, or the aggregates such as Ethereum’s DeversiFi, cryptocurrency, and DeFi, they will eventually be used by everyone. Today, centralized exchanges are the first time most people have access to cryptocurrencies. Place, so it’s great to see that Bitfinex is leading the way in connecting customers directly to Layer 2 DeFi.”
-Will Harborne, CEO and co-founder of DeversiFi
Users will now be able to enjoy the completely permissionless, secure and fast features of decentralization, as well as the benefits of using one of the largest centralized exchanges in the world.
DeversiFi will now not only serve as a gas-free L-2 DeFi hub, allowing traders to get some of the best opportunities and benefits in DeFi, but it will also serve as a highway between the Polygon network and Bitfinex, after its successful launch earlier this month , Its first L2 bridge.
This means that traders will be able to seamlessly transfer funds from the Polygon network to Bitfinex through DeversiFi without having to pay expensive gas costs on the chain. Although the bridge will initially be launched with USDt, DeversiFi plans to expand the ERC-20 tokens it supports in the near future.
“The launch of this L2 bridge with DeversiFi represents another first in technological innovation. I am confident that our customer base will be ready to accept this low-cost transfer mechanism.”
– Paolo Ardoino, Chief Technology Officer, Bitfinex