This week, EFI crypto assets will be listed on Indodax. Open deposit will start on November 24, 2021 at 14:00 WIB and open trading will start on November 25, 2021 also at 14:00 WIB.
This time, Indodax Academy will share and you can read this article to get to know more about Efinity (EFI).
What is Efinity?
Efinity was developed by ENJIN. Enjin pioneered the NFT industry in 2017 – author of ERC-1155, the innovative NFT token standard, and the first NFT creation platform.
Efinity is a global cross-chain NFT blockchain. Powered by deflationary EFI Tokens, the network is eco-friendly, scalable and built for games, apps, enterprises, and content creators to deliver their own non-exchangeable tokens to mainstream audiences.
Built on Polkadot in partnership with Parity Technologies and the Web3 Foundation, Efinity is a new blockchain built specifically for NFT. It’s a token highway designed to enable a certain kind of future—one where NFT is as widespread and easy to use as today’s smartphones.
Featuring transaction fee delegation, smart contracts, fuel tanks, crafting, discrete accounts, instant swaps, native multisig, price discovery, cross-chain marketplaces, and an NFT launch pad. Efinity transactions are confirmed in 6 seconds and scale up to 1000 TPS; in comparison, the Ethereum network currently runs at around 15 TPS.
Efinity will enable NFT to be used by virtually any industry, unlocking trillions of dollars in currently illiquid and unique real-world and digital assets.
Efinity was developed as a parachain on Polkadot, a fully decentralized next generation network that solves the biggest problems facing blockchain today, including interoperability, scalability, speed, security, privacy, development, and governance.
Efinity Token (EFI), Efinity’s deflation token is designed for transaction fees, liquidity, and rewards. Featuring community governance for EFI holders to submit and vote on proposals to steer the future of the network.
Efinity network fees, market commissions, cross-chain linkage fees, and smart contract fees will be used to generate results that can be obtained by installing and entering Enjin Coin (ENJ) and participating in trading and discovering NFTs. ENJ is an important part of the solution, enabling each user to nominate the most efficient collator node running the Efinity blockchain.
In addition, EFI will be the core utility of NFT.io, the launch pad and the next generation multi-chain NFT marketplace. The acquired EFI will be required to embed exclusive NFT and participate in the NFT.io network.
EFI Crypto Assets
Currently, EFI works on top of Ethereum’s ERC20 system. CoinMarketCap’s current rating is #293, with an immediate market cap of $263,765,109 USD and has an outstanding supply of 169,857,481 EFI and max. supply 2,000,000,000 EFI.
How to Buy EFI Crypto Assets on Indodax
For those of you who want to buy EFI crypto assets, you can buy them on Indodax starting 11 November 2021 at 14:00 WIB. Here’s how to buy it:
- For those of you who are not yet a member, you can click the link here
- After that, make a deposit. For those of you who are confused about how to deposit, click on this link
- After your deposit and balance come in, you can return to the market
- Look for EFI in the Rupiah market then click
- After logging in, you just have to buy by filling in the balance and at what price you want to buy EFI. You can also buy it instantly or directly at the current price
- After that, you need to patiently wait for the price to increase for some time
- After the price increases, you can sell it at a higher price with the instant method
- If you sell with the limit method, you can place an order after buying. Make sure you enter a higher number when selling.