Huobi, a Singapore-based cryptocurrency exchange that’s often among the top exchanges by trading volume, has recently launched a beta version of its EOS-based decentralized cryptocurrency exchange, Huobi EOS.
The decentralized exchange (DEX) is starting off with three trading pairs: EOS/BTC, EOS/ETH, and EOS/USDT, and will add more in the future after receiving feedback from its users and ensuring the new pairs go through a “review and screening” process.
As CryptoGlobe covered Huobi Pool, the company’s cryptocurrency mining subsidiary, announced it was going to launch an exchange that used EOS as a base currency in December of last year. At the time, Huobi Pool’s CEO Cao Fei stated:
As an EOS super node, Huobi Pool has placed its ecological development high on its list of priorities. Launching this EOS exchange is simply the next logical step in our support.
The company’s goal is to reportedly facilitate peer-to-peer value exchanges while supporting “high-volume blockchain-based trading.” Huobi, which recently saw its US strategic partner HBUS rebrand, has informed its users Huobi EOS is still in its beta stage, and that they’ll need to authorize it and activate their accounts before being able to withdraw from the platform.
The firm chose EOS as “sophisticated traders are increasingly looking for a broader range of tools,” the Finance Magnates reports, quoting Huobi’s CEO Livio Weng speaking at the Cryptofrontiers conference in New York.
EOS is notably a rather controversial cryptocurrency. It was launched by Block.one after a year-long ICO that raised $4 billion, and in the beginning faced various governance problems over the power its 21 block producers (BPs) had on the blockchain.
Recently, a report suggested that over 400,000 EOS tokens have been stolen by hackers, and that over 200,000 accounts on the cryptocurrency’s blockchain are dormant. At press time, according to CryptoCompare data, EOS is up 0.4% in the last 24-hour period, as it’s trading at $2.46.