Bitfinex listing – and why one needs a market maker to manage token liquidity there

We’re a leading market maker with a strong presence on top global and local crypto exchanges. As of 2020, our algorithmic engine is integrated with Bitfinex, seamlessly ensuring 24/7 liquidity for digital assets of our partners.

Bitfinex is not an easy exchange to list on for startup projects and typically requires good organic volumes on a couple of other exchanges first. It’s an institutional exchange, meaning usually only the biggest tokens are allowed. Despite these challenges we can introduce you to Bitfinex’s verified listing team, assist in the listing process, and build liquidity for your token from the moment you get listed. We ensure both initial and long-term liquidity on Bitfinex by optimizing market depth and narrowing spreads.

Schedule a call to get my insights about listing on Bitfinex and advice on the best listing strategy for your token on this or other exchanges. – Piotr Stawinski, Co-founder and Partnerships at Empirica

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Facts about Bitfinex exchange

Bitfinex was founded in 2012 in Hong Kong. Currently, the platform is registered in the British Virgin Islands. According to the information provided by Coingecko, as of April 2024, the exchange offers 170 coins and 466 trading pairs and is included in the top 10 crypto exchanges based on the trading volume.

Bitfinex listing

Bitfinex has a remote corporate environment and its team unites experts in blockchain and crypto technologies from different corners of the world, including Europe, Asia, South and North America.

Why list on Bitfinex

Bitfinex is known for its serious criteria for tokens that will be approved for being listed on their platform.

To get approval as a candidate for being listed on the platform, a token project should fill in a special form offered by the exchange.

The Bitfinex assessment team always conducts a diligent analysis of the applications submitted by companies in order to offer their users only those tokens that will be of most interest to them. But this approach is a win-win game for projects: once listed, they can expect to see growing attention from the side of crypto investors and traders who rely on the expertise of the Bitfinex team.

One of the most important things when applying for listing on an exchange like Bitfinex is to come with a reputable market maker, that will take care of the liquidity of your coin from day 1.

Bitfinex’s score metrics

When choosing a venue for listing, it is important to check its reputation and general rank in comparison to other exchanges. A good choice is to check how CoinGecko, CoinMarketCap and Nomics rate the exchange.

CoinGecko uses Trust Score, a rating algorithm evaluating the legitimacy of an exchange’s trading volume. Trust Score is calculated on a range of metrics such as liquidity, scale of operations, cybersecurity score, and more. Bitfinex’s Trust Score is 8 point.

Bitfinex

CoinMarketCap’s Exchange Score is based on the following factors:

Web Traffic
Average Liquidity & Volume
the Confidence that the volume reported by an exchange is legitimate. Weights are assigned to the above-mentioned factors and a score from 0.0 to 10.0 is given to the Spot Exchange.

Bitfinex’s Exchange Score is 6.8 (10th place ranked by the Exchange Score at the moment of writing).

Listing on Bitfinex

Nomics’ metric is called Impact Score – and represents an exchange’s influence on the price of assets it trades. The score is a combination of web traffic, volume, and other factors.

Bitfinex’s Impact Score is a high 7.27. What is also important, the second Nomics metric, called Transparency Rating is a high A-. Nomics explains the purpose of these scores as rating cryptocurrency exchanges by their willingness to provide auditable history.

Bitfinex listing - metrics

Listing requirements

When you apply for a listing, the legal team will examine your documentation, which usually includes the certificate of incorporation, legal id of team members, whitepaper, etc. In certain cases (like stable coins), they may require additional documents. You will be asked to provide key information about your token, team, and community. This information should persuade the exchange team that your token will be successful after listing. Take the time to do it well.

The project review consists of several key points:

Project Introduction: The token issuer should write a short summary of what the project does or fill out a form providing necessary project details and information for review by the exchange’s team.
Token Overview: This includes chain type (BSC, ERC, TRC, etc.), blockchain explorer, smart contract address, use of token, etc.
Token Economics and Fundraising: You will be asked to provide information about token distribution, token unlock schedule, or conducted token sales.
Marketing Strategy and Community: To check the user engagement and quality of business partnerships, the exchange will check community hubs with their main geographies. They check the website, Twitter, and Telegram channels, including the number of followers and likes per post. Projects should also introduce strategic partnerships with expected results.
Project Team: Introduce your team members with bio descriptions of the Founder/CEO and core members, including Linkedin profile links..
Listing Plan: Outline your plan for listing the token. If it’s not your debut, you’ll need to provide the exchange team with information on your existing markets and trading volumes on them.
Market Maker: You must specify a market maker who works with you and provides initial liquidity during the listing.

By addressing these points thoroughly, you increase the probability of the approval and entry into negotiations.

We help token projects get listed on Bitfinex. We can introduce you to their listing team and verify the communication channels to protect you against scams. We also can help you in the negotiation process and ensure liquidity for your token at the very first moment of your listing. You can specify Empirica as your market maker – that could be an extra point for you :)

What is the cost of listing a token on Bitfinex?

Most exchanges do not officially disclose listing fees, which can vary widely across different spots. Sometimes, exchanges may not charge anything for listing, while other times the fees can be substantial, with no upper limit. These amounts are always under NDA, so you probably will not find any credible information on them across the websites.

We can provide you with an overview of the listing costs on various exchanges based on our experience. Schedule a free consultation. We can discuss the best listing strategy for your token. You can consider our help in the fee negotiation process.

Our services include extensive support in the following areas:

Introducing to verified listing teams. Prevent listing scams by verifying listing managers and communication channels.
Assist in the listing negotiation process in regard to price and KPIs.
Ensuring both initial and long-term liquidity for the listed token, fulfilling the exchange’s KPIs.
Stabilizing prices across CEX and DEX platforms

Why Empirica?

Listing is more than just negotiating fees with an exchange and successful listings require active involvement of a market maker. We know how to go through this process smoothly.

An example of a successful token listing that we supported on three exchanges as the sole market maker

We are partnering with a web3 gaming startup that introduced a product with solid fundamentals and a clear use case. We supported token debuts on chosen centralized exchanges by providing initial deep liquidity for substantial trades from the first seconds it went public. Our role was to support token debut on three centralized exchanges as the only market maker responsible for listings.

The price increased up to 250% within the first week after listing, and remains stable after the first month. Since the listing, volumes have begun to rise significantly, reflecting a healthy market and good trading conditions (see the Price and Volume chart).

Learn more about our offering with sample case studies from our most successful projects-> here.

SCHEDULE AN APPOINTMENT WITH US TO DISCUSS THE LISTINGS AND BUILDING THE LIQUIDITY OF YOUR MARKETS

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FAQ

WHAT IS BITFINEX’S TRADING VOLUME?

According to Coingecko, for the last 30 days (as of September 2022) average daily trading volume on Bitfinex is around $479 million.

IN WHAT COUNTRIES IS BITFINEX AVAILABLE?

The platform can be used by traders from the majority of the world’s countries. However, there are some restrictions. For example, Bitfinex is not available to residents of the US and Canada, as well as North Korea, Iran, Crimea, Cuba, Syria, and self-proclaimed Luhansk and Donetsk People’s Republics.

WHAT IS TOKEN LIQUIDITY?

This term refers to the ease with which tokens can be swapped for other assets (other crypto assets or government-issued fiat currencies).

WHO ARE MARKET MAKERS?

A market maker is a company or individual that regularly buys and sells financial assets at a publicly quoted price to provide liquidity to the financial or digital asset markets. Their role is to satisfy market demand. Market making is also used as a profit generation trading strategy by hedge funds.

WHAT ARE THE BEST EXCHANGES TO BE LISTED ON?

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