At Ethfinex we are overwhelmingly proud and humbled to be creating an exchange that works for the community.

We are an exchange where community members can propose and vote on governance changes as well as electing new tokens to be listed. To-date, market makers have earned eight million Nectar Reward Tokens (NEC), totalling almost $3m at current market prices, and trading volumes are now a steady $70m per-day. The feedback, patience and energy from our community is what drives us forward, and we have a whole host of exciting new features, partnerships and announcements to share over the coming months

As part of our mission to be the home of token trading, we want to be as transparent as possible about how tokens are added to Ethfinex and Bitfinex. As such, we want to take some time to detail the token listing process and how we are striving to make it as fair as possible.

We will never charge a fee for a listing a token.

Community Vote

The main way that tokens are added to the platform is via the fortnightly community vote using Ethfinex Voting Tokens (EVT). EVT tokens are temporarily ‘minted’ every two weeks for exchange holders of the Ethfinex native market-making reward token, Nectar (NEC). EVT tokens can be bought and sold on the platform, or used to vote for new listings. The top three tokens with the most votes at the end of each two-week cycle are added to Ethfinex and Bitfinex, pending a final due diligence check.

In the three Ethfinex Voting Token (EVT) cycles that have run so far, community members have voted 12 new tokens onto the platform in what some traders have described as “one of the most exciting events in the trading calendar.”

We have seen some neck-and-neck battles where some tokens have been pepped to a top four spot by a matter of a few thousand tokens, and the value of EVT tokens have fluctuated between $0.01 and $0.05 as trader’s battle for the last few votes.

In the past we have manually added tokens to the leaderboard every two weeks. This means there have only been between 10–20 tokens being voted on at any one time. Over the next few months we will be adding functionality that will allow community members to add tokens to the leaderboard. For now, if you would like to see a token in the next voting round, please post a message in the Ethfinex Telegram group, and add its information to the community-gateway Github repository.

We are aware that the current community voting process favors large holders of NEC, or traders who are willing to buy large amounts of EVT tokens. This mechanism gives the most active traders on Ethfinex the biggest say in which tokens are added. Sometimes this has not led to deep and high volume markets after listing. As such, over the next few months we will be adding a separate token listing leaderboard, where each verified trader on Ethfinex will be given one single vote per voting cycle. This leaderboard, will act in parallel to the current system, meaning there will be two ways in which community members can elect tokens to the platform.

Tokens Bypassing the Community Vote

Sometimes instead of new listings going through the community voting process we add them directly to the platform. This can be for a number of reasons:

1) Post-ICO tokens

If a token ICO has generated large community interest, then we will strive to add that token for trading as soon as it is unlocked. Due to legal issues, due diligence needs and the resources that are needed to ensure a successful listing, we can only do this for a select few tokens per month. There are no hard and fast rules, but we take the size of the raise, the distribution of token holders and the level of community interest into account. In these cases speed is paramount, and delaying during the two-week voting process would result in a missed opportunity for Nectar token holders.

2) Experimental Tokens

One of the benefits of being in such a fast moving space is that we are able to test new and exciting technology. We may list new and interesting tokens to gauge community interest. These tokens may need a bit more explanation than a regular utility token. For example, we are currently investigating new stable-coins, or tokens that themselves represent baskets of other tokens, giving traders exposure to the broader market — similar to ETF’s in conventional financial markets.

3) Partner Tokens

Being a community governed exchange means we aim to work closely with and support many partners, both large and small. That may be through advising a project we view as unique, or bringing a product to market that we think will add real value to Ethfinex traders.Ethfinex is most interested in partner tokens where we can collaborate on a shared technical vision to bring new features to our community. Eventually these sorts of collaborations should be proposed and managed by Nectar token holders, but until a more sophisticated form of governance is fully implemented we will aim always to listen to your feedback and act accordingly.

If you have any suggestions for utility tokens that fit any of these three categories, then please email

Although we aim to conduct thorough due diligence on every token that we add to Ethfinex and Bitfinex, we always recommend that community members conduct their own research before trading. In the coming months, we aim to post a full methodology on what we look for in a project before considering it for listing