Bitfinex Lists NYM Token to Enhance Digital Privacy

Darius Baruo Oct 08, 2024 11:01

Bitfinex announces the listing of NYM, a privacy-focused token from Nym Technologies, enhancing online security through decentralized mixnet technology.

Bitfinex, a prominent digital asset trading platform, has announced the listing of the NYM token, the native cryptocurrency of Nym Technologies, according to blog.bitfinex.com. Nym Technologies is recognized for its innovative approach to enhancing online privacy through its decentralized mixnet technology, which aims to protect network-level metadata.

NYM Token's Role in Privacy Infrastructure

The NYM token plays a critical 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 designed to route network traffic in a manner 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 engage with the Nym ecosystem and delegate tokens. Bitfinex will exclusively list the NYM mainnet token on Cosmos, but will also enable customers to deposit the ERC-20 variant, converting it to the mainnet token using Bitfinex's currency conversion tool for trading purposes.

Trading and Market Dynamics

NYM deposits are set to open at 12:00 PM UTC on October 8, 2024, with trading slated to begin 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 enthusiasm 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 strategy to provide robust support and innovation for experienced traders and liquidity providers worldwide.

For more details on the NYM token listing and Bitfinex's services, customers can visit their official website.

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