Bitfinex among first to list SPEC, Native Token of Spectral

ROAD TOWN, British Virgin Islands – May 2, 2024 – Bitfinex (https://www.bitfinex.com/), a premier digital asset trading platform, announced today that it will be among the first exchanges to list SPEC, the native token of Spectral, a layer-2 protocol deployed on the Arbitrum network that is designed to integrate artificial intelligence and machine learning with blockchain technology to bring capital efficiency on-chain.

Spectral focuses on addressing the untapped market of credit risk and risk infrastructure in the Web3 ecosystem. Applying zero-knowledge machine learning (zkML) and decentralised validation, Spectral has built a Machine Intelligence Network that can connect machine learning with smart contracts. Leveraging this network, Spectral says it offers a decentralised credit risk assessment infrastructure that is able to seamlessly integrate credit risk evaluations with Web3. Through this technology, Spectral seeks to demystify the credit rating process by utilising its machine learning models to quantify a user or company’s credit risk in a credibly neutral manner, bringing access to capital in a manner that is without bias or inequality.

SPEC, Spectral’s native token, functions as a governance token that enables holders to vote on operational decisions, and can be used for staking to fortify the network.

“Spectral’s approach to solving inherent bias and mystery in the credit rating industry is interesting. By leveraging machine learning and AI to address the gap of credit risk and risk analysis in Web3, Spectral is building important innovations for the future of DeFi. We are delighted to be among the first exchanges to list their SPEC token,” said Henry Child, Head of Tokens at Bitfinex.

Deposits of SPEC are anticipated to open at approximately 1:00 PM UTC on May 2, 2024, subject to network conditions. Trading is planned to commence at approximately 11:00 AM on May 6, 2024, contingent upon liquidity requirements being met. SPEC will be tradable against US Dollars (SPEC/USD) and Tether tokens (SPEC/USDt). 

To obtain access to SPEC on Bitfinex, customers can visit https://www.bitfinex.com/.

*All users of www.bitfinex.com are subject to Bitfinex’s terms of service (“TOS”). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on www.bitfinex.com. 

About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

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