Bitfinex will go offline seven hours before preparing to launch derivative instruments

by in Blockchain News

Bitfinex launches derivative instruments

Bitfinex, a popular Bitcoin exchange, has announced technical work that can take up to seven hours and will be aimed at improving the experience of user interaction with the platform in the trading process. Among other things, this means creating the foundation for launching derivative instruments.

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Maintenance is scheduled for the next Wednesday, June 26, but this date may be postponed to a later date if market volatility increases.

As stated in the message, during the upcoming work, users will not be able to make transactions, however, open positions will remain and will be resumed immediately after the launch of the platform. In this regard, the stock exchange draws attention to the need to take into account possible market fluctuations and their impact on the active margin positions.

The update also aims to improve the stability and scalability of the matching mechanism on all platforms of the exchange's operator, iFinex, and therefore will also affect the Ethfinex platform it will go offline with Bitfinex for the indicated time.

Recall that in May Bitfinex became one of Blockstream's Liquid Sidechain users. The technology is intended for servicing Bitcoin exchanges, processing services and traders and allows to reduce the time required to carry out large volumes of transactions between different accounts.