What is Hashflow (HFT)?
Hashflow is an interoperable decentralized exchange (DEX) offering zero slippage and protection from miner extractable value (MEV). It offers commission-free trades and executes price quotes at their displayed prices for seamless cross-chain trading without the need for bridges or synthetic assets.
How does Hashflow work?
Hashflow enables cross-chain asset exchange without the need for external bridges, ensuring protection from slippage and MEV during trades on one or multiple chains. The platform uses a hybrid Request for Quote (RFQ) engine that fetches off-chain quotes from market makers managing on-chain liquidity. These cryptographically signed quotes ensure guaranteed prices, immune to manipulation by MEV bots.
Hashflow also safeguards against slippage caused by cross-chain MEV that may occur during price movement between validation on the source chain and transmission to the destination chain.
What is the HFT token?
The HFT token serves as the official token for both the Hashflow protocol and the gamified governance platform, Hashverse. By staking HFT, users can unlock access to various features within the Hashflow ecosystem.
Buying Hashflow on Bitfinex vs BingX
Trading Fees
Cryptocurrency trading occurs on exchanges that are similar to stock exchanges, but exclusively for cryptocurrencies. To maximize profits, it is essential for traders to understand the tiered fee structures that exchanges use, which are typically based on a user's 30-day trading volume.
The fees for cryptocurrency trading on exchanges can vary greatly. Some exchanges charge a flat fee for all trades, while others charge a percentage of the trade amount. Some platforms offer discounts for memberships or for high trading volumes.
Bitfinex has a fee structure of 0.1% for both makers and takers on most trades. However, users who hold the platform's native token (LEO) or who trade in large volumes can receive discounts. BingX has a lower fee structure, with maker and taker fees as low as 0.075% on most trades.
Please see the table below for a quick overview:
Bitfinex
BingX
Maker Fee
0.1%
0.075%
Taker Fee
0.1%
0.075%
It's important to keep in mind that these fees are just examples and can change over time. Hence, it's advisable to check the current fee schedule for the exchange in consideration and compare fees to find the most competitive rates.
Services and Features Offered
Bitfinex is a digital asset trading platform that was founded in 2012. It offers trading for a variety of cryptocurrencies, including Bitcoin, Ethereum, and others. The platform is known for its advanced trading features, such as margin trading and liquidity swaps. Bitfinex has faced controversy in the past, including a 2018 investigation by the New York Attorney General over the loss of $850 million in customer funds. Overall, the platform is well-regarded by many in the cryptocurrency community, although others remain cautious due to its history of controversy.
On the other hand, BingX is an international digital financial institution that offers services in various countries like North America, Canada, the EU, Hong Kong and Taiwan. BingX offers financial services such as lending, borrowing, staking, and buying and selling of cryptocurrencies. They have a referral program, a trading competition, and a copy trading feature which enables users who don't have the luxury of time or are new to crypto to choose their trader of choice and follow their trade(s).
In summary, both Bitfinex and BingX are slightly different in terms of services and features, and the best option will depend on the user's needs and preferences. It is essential to research both platforms thoroughly and consult with financial advisors before making any investment decisions. |
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