Introducing the all-new Efinity Token (EFI) – a token that works in synergy with ENJ and is built for the Efinity parachain.
EFI will fuel the economy of the next-generation blockchain for digital assets, (non-fungible tokens). Hence, it can be used directly to pay transaction fees, vote in governance events, facilitate liquidity, and reward network participants.
But how is this different from other blockchains intended for digital assets?
As developed by Enjin, EFI primarily gives its investors an up-to-date, mainstream, developer-friendly, and cost-effective NFT experience. It aims to address solutions about high fees, inflexible smart contracts, and disjointed interoperability.
In fact, Blockchain.com Exchange and a series of other well known trading platforms have already started supporting the depositing, trading, and withdrawal of EFI.
How does it work?
Just like any other blockchain, the first thing to do is to make an account directly on the webpage of Blockchain.com Exchange. Upon logging in, add your desired funds and that’s it—you may now start trading. Additionally, as part of the promotional strategies, every Exchange user that purchases $100 of EFI or more, provided that it remained on hold until August 13, will receive a limited edition NFT.
Enjin is also very considerate to those who are just new to these exchanges.
How is it able to work with ENJ?
There are multiple ways how ENJ and EFI can work together in the Enjin NFT ecosystem.
First on this list is the affordable NFT transactions. EFI can be used to pay low-cost transaction fees that will move your NFTs on the network.
Next, Enjin coin holders have the authority to select the most efficient and stable nodes. This active involvement of each coin holder even rewards them with EFI tokens.
Third, its decentralized network. EFI holders have the power to change, give suggestions, or vote in proposals that will help cultivate the future of the network.
Fourth, its market flexibility. ENJ and NFTs can all be utilized in the Efinity marketplace and in other applications as well.
With all that being said, are you now up ‘to Efinity and beyond’?
Learn how to mint NFTs on Enjin Jumpnet.
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