Tether forms ‘alliance’ with former sister firm, rhino.fi fka Ethfinex
Tether recently announced a “strategic alliance” with rhino .fi — formerly DeversiFi, formerly Ethfinex — which Tether claims will “improve liquidity” for rhino .fi’s bridging solution. The genesis of rhino.fi is Ethfinex, a Tether sister firm spun out of Bitfinex with the goal of eventually creating a ‘trustless exchange.’ Eventually, the trading volume associated with this was merged back into Bitfinex and the on-chain trading of tokens became the domain of DeversiFi, which was more explicitly spun out of Bitfinex with a ‘management buyout.’ Despite this separation, DeversiFi and Bitfinex continued to collaborate closely, with Bitfinex and DeversiFi working together on a solution to transfer Tether tokens to DeversiFi’s layer-2 decentralized exchange. Since then, DeversiFi has rebranded as rhino.fi, attempting to enable transactions in different tokens across various chains , including T...