Bitfinex to List UXLINK Governance Token for Decentralized Social Platform

Bitfinex, a premier digital asset trading platform, has announced that it will be among the first exchanges to list UXLINK, the governance token of UXLINK, a decentralized social network platform and infrastructure provider, according to blog.bitfinex.com.

UXLINK: An Alternative to Centralized Social Networks

Launched in 2023, UXLINK aims to provide an alternative to traditional social networking websites that centralize user data. UXLINK integrates various user-friendly decentralized applications into Telegram, one of the most popular messaging applications. The platform employs a dual-token economics model, featuring on-chain point rewards and a separate governance token.

Utility and Supply of UXLINK

The UXLINK governance token offers several utility options for its holders, including facilitating payments for the use of the platform’s decentralized applications, data, and gas fees. The token has a capped supply of no more than 1 billion UXLINK.

Bitfinex's Role in Web3 Adoption

“In order to become mainstream, Web3 needs to meet new users where they are. Social networking is an excellent way to bridge the gap between Web2 and Web3 and onboard new users,” said Henry Child, Head of Tokens at Bitfinex. “We at Bitfinex are thrilled to add the governance token UXLINK to our vast selection of digital assets.”

Listing Timeline

Deposits for UXLINK (ERC-20 on Arbitrum One) are expected to open at approximately 8:00 AM UTC on 17th July 2024, subject to network conditions. Trading will commence at around 8:00 AM UTC on 18th July 2024, contingent upon liquidity requirements being met. UXLINK will be tradable against US Dollars (UXLINK/USD) and Tether tokens (UXLINK/USDt).

Access and Restrictions

To obtain access to UXLINK on Bitfinex, customers can visit https://www.bitfinex.com/. It is important to note that U.S. persons, among other prohibited persons, are strictly prohibited from directly or indirectly holding, owning, or operating an account on www.bitfinex.com, as per Bitfinex’s terms of service.

About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. The platform provides advanced trading features, charting tools, peer-to-peer financing, an OTC market, and margin trading for a wide selection of digital tokens. Bitfinex focuses on unparalleled support, tools, and innovation for experienced traders and liquidity providers worldwide.