.jpg)
Bitfinex, a state-of-the-art digital token trading platform, has added Cosmos (ATOM) as collateral on Bitfinex Borrow, the platform’s peer-to-peer (P2P) digital token loan portal, after it was successful in a social media poll.
The majority of Bitfinex’s growing community chose ATOM, the native cryptocurrency for Cosmos’s decentralized network enabling data exchanges between different blockchains. The token garnered 55.65% of the vote in a recent social media poll.
“We’re delighted to add ATOM to the suite of digital tokens available on Bitfinex Borrow after its poll success across our social channels,” said Paolo Ardoino, CTO at Bitfinex. “We anticipate a ready uptake for ATOM on Bitfinex Borrow, a service growing in popularity among our active user base.”
Bitfinex customers can now obtain loans of up to 50% of the value of their ATOM holdings in US Dollars (USD). Borrowers will have to manage their own risk of fluctuations in the ATOM price.
Bitfinex Borrow is a peer-to-peer (P2P) digital token loan portal that allows users to borrow funds from other users by using their cryptocurrency or fiat assets as collateral. ATOM is among 14 digital tokens available as collateral on Bitfinex Borrow, along with USD, euro and yen.
Bitfinex’s community-first approach extends to its ongoing commitment to democratising access to financial markets, by providing advanced tools such as the Honey Framework and Bitfinex Terminal for the wider digital token ecosystem.
Important Notes
Nothing in this post is financial, investment or other advice. Nothing in this post is an offer to borrow or lend or the solicitation, recommendation or endorsement of any course of borrowing or lending. Any references in this post to returns are only hypothetical and not guaranteed.
* The rates, payment amounts and collateral price reflected represent an estimate, based on current market conditions, of the interest rates and amounts payable based on the loan amount, collateral and duration selected. These values are hypothetical and not guaranteed to be the same as, or reflective of the actual interest rate, payment obligations or collateral price applicable to a loan a user decides to take. This information is provided for information purposes only.
