What is Efinity (EFI)? | Efinity Token Explained in Under 60 Seconds

Efinity is a next generation cross-chain NFT blockchain developed by Enjin, and built on Polkadot. Offers a scalable solution for token generation, transfers & purchases.

Efinity Token (EFI) - The Efinity network is powered by its paratoken $EFI. EFI is a deflationary token used for transaction fees, reward payments and liquidity.

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Efinity Parachain - The Efinity blockchain is a parachain with an independent economic framework, data, and state. Communication with other blockchains is enabled by the use of Polkadot Relay Chain validators for its consensus.

Cross-Chain Bridge - Efinity allows tokens that are created on other chains (ERC20, etc.) to be imported using a bridge. Paratokens are backward-compatible with ERC-1155 tokens.

Marketplace Tools - Efinity offers a suite of tools for creating, buying and selling tokens. This facilitates the development applications to transfer NFTs cross-chain for a wide variety of use cases.

Efinity Features - Efinity offers secure transactions, paratoken transfers, swaps, transaction fee delegation, discrete accounts with no private key, fuel tanks for transaction fees, and crafting to modify or create new tokens.

WEBSITE: https://efinity.io/