The TokenPay platform recently announced the launch of the EFIN tokens, following the launch of its secure, private and unhackable decentralized exchange hub called eFin DEX and the platform is planning on distributing it to TPAY holders.
TokenPay markets itself as a self-verifying payment platform that facilitates secure transactions between parties. TPAY is the platform?s native token which can be traded by holders. The EFIN token was created from its own blockchain and it is not a product of a TPAY fork. EFIN?s blockchain also boasts of a modern codebase that was created specifically to facilitate financial transactions.
TokenPay announced that it decided not to sell the EFIN coins to users but rather distribute them in an airdrop style to users who hold TPAY coins. They also made it clear that it was not a coin swap. Additionally, the organization will make the EFIN coins immediately available. So far there has been no official date for the launch although it is expected to take place within the Q3 of this year. TokenPay not only wants EFIN coins to be available on the eFin DEX platform but also on third-party exchanges.
EFIN tokens as vital part of TokenPay
The payment platform also plans to make EFIN coins a critical part of its merchant processing platform as well as including it to all aspects of its ecosystem. TokenPay claims that users who hold the EFIN coins will be able to use them to pay for financial products from TokenSuisse. The organization claims that the move is aimed at tokenizing the traditional Swiss financial assets so that they will be available to anyone on the blockchain and not just a handful of individuals. This played a key part in motivating TokenPay not to sell the tokens but to distribute them to TPAY holders.
The announcement about TokenPay?s plan to airdrop EFIN tokens comes just after the announcement about TokenSuisse?s plan to launch a Privacy Coin Certificate with TPAY as the main component. It also meant that TokenSuisse would have to acquire TPAY coins for TokenPay to back the Privacy Coin Certificate. The PCC is expected to be launched in Q3 at the same time that the Fin DEX platform will be launched.