About Efinity Token
Efinity is an blockchain for non-fungible tokens (NFTs) developed by Enjin. Enjin pioneered the NFT industry in 2017, authoring ERC-1155, the groundbreaking NFT token standard, and launching the first NFT creation platform. Efinity is the world’s cross-chain NFT blockchain. Powered by the deflationary Efinity Token (EFI), the network is environmentally friendly, scalable, and built for games, apps, enterprises, and creators to deliver their own non-fungible tokens to mainstream audiences. Built on Polkadot in partnership with Parity Technologies and the Web3 Foundation, Efinity is a new blockchain that's purpose-built for NFTs. It's a token highway designed to enable a specific kind of future—where NFTs are as widespread and easy to use as smartphones today. Featuring transaction fee delegation, smart contracts, fuel tanks, crafting, discrete accounts, instant swaps, native multisig, price discovery, cross-chain marketplaces, and a NFT launchpad. Efinity’s transactions are confirmed in 6 seconds and scale to 1000 TPS; in comparison, the Ethereum network currently runs at around 15 TPS. Efinity will enable NFTs to be utilized by virtually any industry, unlocking trillions of dollars in currently illiquid and unique real-world and digital assets. Efinity is developed as a parachain on Polkadot, the next-generation, fully decentralized network that is solving the largest issues facing blockchains today, including interoperability, scalability, speed, security, privacy, developability and governance. Efinity Token (EFI), Efinity’s deflationary token is designed for transaction fees, liquidity, and rewards. Featuring community governance for EFI holders to submit and vote on proposals to steer the future of the network. Efinity’s network fees, marketplace commissions, cross-chain bridging tolls, and smart contract fees will go towards yield that can be earned by staking and infusing Enjin Coin (ENJ) and participating in trading and discovering NFTs. ENJ is a critical part of the solution, allowing any user to nominate the most efficient collator nodes that run the Efinity blockchain. Additionally, EFI will be a core utility of NFT.io, a next generation multi-chain NFT launchpad and marketplace. Earned EFI will be required to farm exclusive NFTs and participate in the NFT.io ecosystem
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Market Stats
Market Cap
$4.06M
-0.78%
FDV
$93.43M
Circ. Supply
87M EFI
Max Supply
2B EFI
Total Supply
2B EFI
Diluted Valuation
$142.79M
Performance
Popularity
Not enough data
Dominance
0%
Volume (24H)
$4.30K
-69.18%
Volume (7D)
Not enough data
Volume (30D)
Not enough data
All time high
$3.10
Price Change (1Y)
-48.92%
Additional details
Market details
EFI vs markets
↘ 68.04%
EFI vs BTC
↘ 69.25%
EFI vs ETH
↘ 66.56%
Tags
collectibles-nfts
gaming
metaverse
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x656C00e1BcD96f256F224AD9112FF426Ef053733 |
Price history
Time | Price | Change |
|---|---|---|
Today | $0.0467 | ↗ 0.01% |
1 Day | $0.0467 | ↗ 0.01% |
1 Week | $0.0467 | ↘ 0.01% |
1 Month | $0.0467 | ↘ 0.01% |
1 Year | $0.0915 | ↘ 48.92% |
FAQ
Efinity is a blockchain built on the Polkadot network. According to the whitepaper, the developers of Efinity believe that a modern and developer-oriented (https://www.coinbase.com/learn/crypto-basics/what-are-nfts#:~:text=NFTs%20(or%20%E2%80%9Cnon%2Dfungible,worth%20exactly%20the%20same%20amount.&text=Each%20Beeple%20piece%20is%20paired,version%20is%20the%20real%20one.) experience is necessary for today’s digital space. Efinity aims to create a better infrastructure for its blockchain to address the issue of developer experience. Efinity proposes to create a network that would facilitate and host all NFTs.
The current blockchain network is fragmented by different competitors who strive to emerge dominant in the industry. The competition causes hindrance for the Metaverse to continue to grow. The Metaverse is a digital ecosystem that is created using virtual reality.
Consequently, Efinity seeks to become a hub for all NFTs and not be limited to a general blockchain. NFTs and other forms of token creation and transfers are the priority of the platform. On the other hand, transaction fees are kept in the background of the platform activities. By shifting the focus from transaction fees, users are offered a better experience without understanding the network mechanics. Efinity strives for more transactions to be completed by ensuring a better experience for the users.
Efinity Token (EFI) is the utility token that would propel the services and functions of the Efinity platform. Holders of EFI can participate in voting procedures regarding the governance of the platform. Furthermore, participating in community activity also incentivizes the user with token rewards. Efinity also aims to create an interactive community.
The various services and functions of Efinity would be priced as per their unique requirements. Users of the Efinity platform can also exchange EFI for any token or NFT that is bridged with Efinity. Efinity creates an ecosystem where external parties would also be encouraged to develop on the Efinity platform.
Moreover, Efinity would attempt to reduce friction while converting the tokens on the platform using the Para Swap application. Efinity seeks to create a space that uses Smart Contracts to ensure the platform's functionality generates utility.
The whitepaper of Efinity was released in 2021. Efinity was co-founded by Maxim Blagov and Witek Radomski, Oscar Franklin Tan, and Caleb Applegate. The total supply of EFI tokens is to be limited to two billion.
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Terms apply. Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Social stats
Popularity in posts
#3450
Contributors
20
Posts
21
% About Efinity Token
0.002%
Hold times
0 days
X (Twitter)
75% bullish
Sentiment
4.6 ★
Highlights
20 unique individuals are talking about Efinity Token and it is ranked #3,450 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Efinity Token has an average sentiment score of 92 out of 5. Finally, Efinity Token is becoming less newsworthy, with 0 news articles published about Efinity Token.
On Twitter, people are mostly bullish about Efinity Token. There were 75% of tweets with bullish sentiment compared to 0% of tweets with a bearish sentiment about Efinity Token. 25% of tweets were neutral about Efinity Token. These sentiments are based on 2 tweets.
On Reddit, Efinity Token was mentioned in 19 Reddit posts and there were 229 comments about Efinity Token. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Legal
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