Apifiny, a global digital asset trading network, has unveiled its VIP Early Access Program for Apifiny HEX, a “new class of hybrid digital asset exchange” that’s designed to combine the “best advantages” of centralized and decentralized trading into one, more powerful global trading platform.
Eligible or qualified program participants will “receive no-fee trading for life” on Apifiny HEX order book trades (terms apply). Apifiny HEX is meant to offer professional and retail traders and liquidity providers with “deep, predictable global liquidity and superior price discovery from over 25 connected exchanges,” the announcement noted.
As stated in a release shared with CI:
“Centralized digital asset exchanges (CEXs) generally have fast trading execution, small spreads, low fees, and deep order book depth. However, CEXs are also more susceptible to security breaches and do not allow traders to have full custody and control of their own digital assets.”
Decentralized digital asset exchanges (DEXs) have “much better transaction transparency,” better overall security, and allow users to have “full control” over their assets, including governance capabilities that “empower user communities to shape the development and benefits of their platforms,” the announcement explained.
But DEXes also have fairly slow trading speeds, large slippage, high fees, and “insufficient” compliance (e.g., KYC onboarding) procedures, the release noted.
Apifiny HEX aims to address these issues of centralized and decentralized exchanges by bringing together the predictability and “power” of automated market making (AMMs) with the key advantages of centralized trading “into one unified, global order book,” according to Haohan Xu, CEO at Apifiny.
Xu added that as they accelerate toward their public offering, Apifiny HEX is “an important milestone toward capturing a huge global, digital asset trading market opportunity.”
Some of the main benefits of Apifiny HEX are as follows:
- Apifiny “aligns the incentives of traders and liquidity providers (LPs) using automated market making (AMM).”
- Key benefits for professional and retail HEX traders, market makers, and investors include: No Trading Fees. Get “zero taker fees and orders filled instantly.” Pricing is “what you see is what you get.”
- Participants in the VIP Early Access program will “get zero maker and zero taker fees during the early access period starting today until September 30, 2021.”
- Eligible participants will also “pay zero maker and zero taker fees for life on Apifiny HEX trades if they trade in an eligible account at least $10,000 by September 30, 2021 (terms apply).” Traders may sign up at www.apifiny.com/hex-vip.
- Superior Price Discovery. Traders are able to “find the best asset prices aggregated from over 25 connected exchanges with tightly integrated AMM.” Apifiny “seamlessly combines centralized and AMM orders into one unified, global order book in a single interface.”
- Deep, Predictable Liquidity. Access to deep liquidity “through over 25 connected, centralized exchanges, combined with AMM’s clearly defined rule sets and predictable liquidity.”
- Full Autonomy and Wallet Security. Users will be able “to custody, access and trade a wide range of digital assets pairs using their own decentralized wallet.”
- Institutional-grade Security & Compliance. Apifiny is “a regulated trading venue, so traders can rest assured that their counterparties have all completed KYC onboarding with institutional-grade security.”
- Democratized Market Making. Anyone can “become a market maker and liquidity provider using automated market making (AMM) and earn reliable yields with no gas fees.”
The public launch of Apifiny HEX is “planned for early Q4 of this year.” Additional features will be “announced in late Q4 2021 and Q1 2022,” the release confirmed while noting that VIP early access program participants will “be the first to benefit from the new capabilities as they launch.”
Apifiny claims that it’s growing rapidly and currently offers access to the “majority of the world’s total crypto trading volume through its connected exchanges.”
The firm’s customer roster reportedy includes “the top 5 US digital asset exchanges and 23 of the top 100 global digital asset exchanges by trading volume, across 12 countries and 6 continents.”
Apifiny connects professional and retail digital asset traders with more than 25 exchange partners “to help execute global trading strategies at the best global prices.” Connected partners include Crypto.com, Huobi Global, OKEx, Kucoin, AscendEX, HBTC and Blockchain.com’s Exchange.
As noted in the announcement, Apifiny “unifies fragmented global trading marketplaces to provide professional traders and digital asset exchanges with simpler, faster, and more cost-effective, global trading and liquidity solutions.”
Apfiny “connects centralized financial institutions with decentralized networks to reimagine the global liquidity and trading value chains.”
Apifiny’s trading network “enables professional traders to execute global, multi-exchange strategies, access deep global liquidity, superior price discovery, normalized market data, tighter spreads, and higher fill rates and capital utilization.”