{"data":{"id":8985,"name":"Efinity Token","symbol":"EFI","slug":"efinity","category":"token","description":"To find out even more about this project, check out our deep dive of [Efinity](https://coinmarketcap.com/alexandria/article/what-is-efinity-efi).\n\n## What Is Efinity Token (EFI)?\n\nEfinity is a cross-chain [NFT](https://coinmarketcap.com/alexandria/glossary/non-fungible-token) platform developed by Enjin and built on [Polkadot](https://coinmarketcap.com/currencies/polkadot-new/). Efinity was created as the next generation blockchain for digital assets with the aim of adapting to the challenges of the world of [non-fungible tokens](https://coinmarketcap.com/alexandria/glossary/non-fungible-token) (NFTs), according to the project.\n\nThe main specialization of the Efinity project is the NFT space. With the protocol, traders and gamers can create, distribute, transfer, sell and buy NFTs. Efinity aims to remove barriers to entry into the NFT space/decentralized gaming, and to simplify user experience and digital asset governance.\n\nEfinity Token powers the entire Efinity ecosystem, EFI aims to prioritize the generation, transfer and purchase of tokens using an inter-chain infrastructure of protocols resulting in lower transaction fees. As for incentives, rewards on [PoW](https://coinmarketcap.com/alexandria/glossary/proof-of-work-pow) blockchains with NFT functionality go to miners who create/trade tokens, thereby forming a community.\n\nOne of the long-term goals of Efinity is to become a hub for both fungible and non-fungible tokens, accepting tokens from any other chain, facilitating the pricing and exchange of NFTs, increasing transaction volume, and creating network effects.\n\nIn December 2021, the project won the Polkadot parachain auction, and in March 2022, Enjin launched their flagship parachain Efinity on the Polkadot Relay Chain — a blockchain platform that provides a decentralized parachain network where people havecontrol over their data and identity.\n\n## Who Are the Founders of Efinity Token?\n\nEfinity was developed by the Enjin team, and Maxim Blagov (CEO) and Witek Radomski (CTO) are co-founders of the company.\n\nMaxim Blagov graduated with a degree in computer science from the University of Technology Sydney (UTS). He’s an expert in concept development and strategizing for interactive apps in the video game industry, with extensive experience in UX/UI design. In 2009, Blagov teamed up with Witek Radomski to launch Enjin, devoting 14 years to developing the ecosystem.\n\nAs for Witek Radomski, he’s also one of the first members of the Enjin team who spearheaded the integration of [Enjin Coin (ENJ)](https://coinmarketcap.com/currencies/enjin-coin/). Radomski has 13 years of experience and is known as the creator of the ERC-1155 token standard.\n\nAnd another player is Caleb Applegate, COO at Enjin and former COO of Mineplex, which was a global Minecraft gaming service from 2013 to 2023.\n\nIn 2019, Enjin signed a partnership with Microsoft, and in 2021 enlisted the support of investors like Hashed, Crypto.com Capital, Digital Finance Group, DeFi Alliance and Hypersphere.\n\n## What Makes Efinity Token Unique?\n\nEfinity (EFI) is endowed with a number of unique features that distinguish the project from competitive blockchain platforms, for instance: fast transactions and low fees, the use of so-called fuel tanks, support for contracts with multiple signatures and the implementation of Efinity Swap technology.\n\nKey advantages of Efinity:\n\nFuel tanks. A feature that allows users to engage with Efinity without bearing transaction costs. Essentially, it is a collective pool of tokens utilized by various accounts (wallets) for conducting transactions on Efinity.\n\nFast transactions and low fees. Efinity (EFI) is capable of processing 700 to 1000 transactions per second. The transaction confirmation speed is 6 seconds and does not require the end user to have a blockchain wallet. The speed of the process ensures prompt response times.\n\nEfinity Swap. The technology improves the efficiency of the paratoken exchange process. How does it work: the automatic conversion mechanism allows the upgrading of one paratoken to another for various purposes, greatly simplifying the swaps that are available through buy / sell orders.\n\nThe global mission of the Efinity project is to shape the crypto future, where NFTs will become something familiar and integral for any user, where rewards go not only to miners, but to all network participants: developers, traders, ordinary token holders, where all transactions proceed fast and with low fees.\n\n### Related Pages:\n\nRead about [Enjin Coin (ENJ)](https://coinmarketcap.com/currencies/enjin-coin/).\n\nThe latest data about [Polkadot (DOT)](https://coinmarketcap.com/currencies/polkadot-new/).\n\nTake a deep dive into Efinity (EFI) with [CMC Alexandria](https://coinmarketcap.com/alexandria/article/what-is-efinity-efi).\n\nWhat are non-fungible tokens (NFTs)? Have a look at our [CMC glossary](https://coinmarketcap.com/alexandria/glossary/non-fungible-token).\n\nWhat are parachains? Click [here](https://coinmarketcap.com/alexandria/article/what-are-parachains-2) and find out.\n\n## How Many Efinity Token (EFI) Coins Are There in Circulation?\n\nEFI is the utility paratoken of the Efinity network with a maximum supply of 2,000,000,000 coins. \n\nEFI use cases:\n\nWith EFI, users can pay transaction fees, purchase digital assets, vote in governance events, reward network members, and facilitate liquidity.\n\nTokens are distributed as follows:\n\n20% to investors (+ seed rounds and public sales);\n\n30% to the team (10%) and the company (20%);\n\n15% to staking pools;\n\n35% to the ecosystem.\n\nThe functions of the EFI token include: transaction fees (transaction fee is set and distributed depending on the type of transaction), network fees (orders placed deduct 2.5% fee), governance, fuel tanks (users can stake EFI for a fixed period, reducing the cost of transactions), JumpNet (users with EFI tokens trade in JumpNet for free), placing orders on the trading platform, creating an account on the network.\n\nAssets on Efinity can be exchanged for NFTs and digital tokens, cryptocurrency on the platform can also be sold through decentralized mechanisms.\n\n## How Is the Efinity Token Network Secured?\n\nThe Efinity protocol is part of the Polkadot parachain ecosystem, leveraging the scalability and security of [Polkadot](https://coinmarketcap.com/currencies/polkadot-new/). Efinity blockchain is a parachain that runs on Polkadot Relay Chain validators for its consensus. Parachains use the computational power of the relay chain, which is responsible for the interconnection and protection of the network. Polkadot is in charge of overall network security by connecting validators to parachains. Efinity’s collator nodes process transactions, the network pays out EFI tokens from Collator Pool.\n\nIn addition, the Efinity platform and Efinity Token (EFI) were created according to the [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token standard, following the same security protocol as the Ethereum blockchain, namely a [proof-of-stake](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos) (PoS) consensus mechanism.\n\nThe Efinity Token (EFI) was developed by Enjin, and in 2020, Enjin launched a bug bounty program via [HackerOne](https://www.hackerone.com/), an information security company with access to the best ethical hackers in the world. With HackerOne, customers can stress test systems, find bugs, and fix vulnerabilities.\n\n## Where Can You Buy Efinity Token (EFI)?\n\nEfinity Token (EFI) is available on some DEX and CEX platforms. Among them: [Gate.io](https://coinmarketcap.com/exchanges/gate-io/), [Huobi Global](https://coinmarketcap.com/exchanges/huobi-global/), [Bithumb](https://coinmarketcap.com/exchanges/bithumb/), [Coinlist Pro](https://coinmarketcap.com/exchanges/coinlist-pro/), [Poloniex](https://coinmarketcap.com/exchanges/poloniex/), [OKX](https://coinmarketcap.com/exchanges/okx/), [LBank](https://coinmarketcap.com/exchanges/lbank/), [Crypto.com Exchange](https://coinmarketcap.com/exchanges/crypto-com-exchange/), [MEXC](https://coinmarketcap.com/exchanges/mxc/), [SushiSwap](https://coinmarketcap.com/exchanges/sushiswap/), [Uniswap (V3)](https://coinmarketcap.com/exchanges/uniswap-v3/), [Indodax](https://coinmarketcap.com/exchanges/indodax/), [ZB.COM](https://coinmarketcap.com/exchanges/zb-com/), [BTCEX](https://coinmarketcap.com/exchanges/btcex-exchange/), [CoinEx](https://coinmarketcap.com/exchanges/coinex/), [BitMart](https://coinmarketcap.com/exchanges/bitmart/), [AAX](https://coinmarketcap.com/exchanges/aax/), [BitForex](https://coinmarketcap.com/exchanges/bitforex/), [AEX](https://coinmarketcap.com/exchanges/aex/), [Hoo](https://coinmarketcap.com/exchanges/hoo/), [DigiFinex](https://coinmarketcap.com/exchanges/digifinex/), [BKEX](https://coinmarketcap.com/exchanges/bkex/), [Bitget](https://coinmarketcap.com/exchanges/bitget/), [ZBG](https://coinmarketcap.com/exchanges/zbg/), [Blockchain.com](https://coinmarketcap.com/exchanges/blockchain-com-exchange/), [Hotcoin Global](https://coinmarketcap.com/exchanges/hotcoin-global/), [1inch Liquidity Protocol](https://coinmarketcap.com/exchanges/1inch-liquidity-protocol/), [KyberSwap](https://coinmarketcap.com/exchanges/kyberdmm/) and [BingX](https://coinmarketcap.com/exchanges/bingx/).\n\nWant to keep track of Efinity Token (EFI) prices live? Install the [CMC mobile app](https://coinmarketcap.com/mobile/).","dateAdded":"2021-03-29T00:00:00.000Z","actualTimeStart":"2021-08-04T10:35:00.000Z","status":"active","isBn":0,"subStatus":"normal","icoStatus":"active_ico","notice":"Efinity has migrated to the Enjin Blockchain. For more information, kindly review this [post](https://enjin.io/blog/enjin-blockchain-migration-successful-51-complete-in-first-60-days).","alertType":2,"alertLink":"","latestUpdateTime":"2026-09-23T03:17:00.000Z","watchCount":"81833","watchListRanking":464,"dateLaunched":"2021-03-31T00:00:00.000Z","latestAdded":false,"tags":[{"slug":"collectibles-nfts","name":"Collectibles & NFTs","category":"CATEGORY","status":1,"priority":3},{"slug":"gaming","name":"Gaming","category":"INDUSTRY","status":1,"priority":1},{"slug":"ethereum-ecosystem","name":"Ethereum Ecosystem","category":"PLATFORM","status":1,"priority":3},{"slug":"metaverse","name":"Metaverse","category":"CATEGORY","status":1,"priority":3},{"slug":"okx-ventures-portfolio","name":"OKX Ventures Portfolio","category":"CATEGORY","status":1,"priority":5},{"slug":"coinlist-launchpad","name":"Coinlist Launchpad","category":"CATEGORY","status":1,"priority":5}],"selfReportedTags":["PoS","Collectibles & 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