Kriptoks

Efinity (EFI) is a blockchain built on the Polkadot network that aims to create a better infrastructure for its blockchain to address the issue of developer experience. The developers of Efinity believe that a modern and developer-oriented experience is necessary for today’s digital space, particularly in the world of NFTs (non-fungible tokens).

The current blockchain network is fragmented by different competitors who strive to emerge dominant in the industry. This competition causes hindrance for the Metaverse, a digital ecosystem created using virtual reality, to continue to grow. To address this, 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. Additionally, transaction fees are kept in the background of the platform activities to offer users a better experience without understanding the network mechanics.

The 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 and also incentivized with token rewards for participating in community activity. Efinity also aims to create an interactive community.

The various services and functions of Efinity would be priced as per their unique requirements and users of the Efinity platform can also exchange EFI for any token or NFT that is bridged with Efinity. Furthermore, Efinity encourages external parties to develop on the Efinity platform, creating an ecosystem where developers are encouraged to create unique and innovative solutions.

Efinity also seeks to reduce friction while converting tokens on the platform using the Para Swap application and uses Smart Contracts to ensure the platform's functionality generates utility.

The whitepaper of Efinity was released in 2021 and was co-founded by Maxim Blagov, Witek Radomski, Oscar Franklin Tan, and Caleb Applegate. The total supply of EFI tokens is limited to two billion.

In summary, Efinity is a blockchain platform built on the Polkadot network, with a focus on improving developer experience in the NFT space. The platform aims to become a hub for all NFTs and reduce friction in token conversion. The Efinity Token (EFI) is the utility token that powers the platform and incentivizes community participation. With a limited supply of two billion tokens and a team of experienced co-founders, Efinity has the potential to revolutionize the NFT industry and the Metaverse as a whole.