On June 20, Bitfinex published an announcement on its website regarding the planned system upgrade, so the platform along with its sister exchange Ethfinex will be offline on June 26.
The company stated that the upcoming upgrade is aimed at boosting "stability and scalability of the iFinex matching engine". This is expected to make use of the platform more effective during the trading. Moreover, the exchange also considers the background for the derivative instruments to be added to Bitfinex.
Bitfinex and Ethfinex are said to go offline for about 7 hours on June 26.
At the same time, the company noted that the date can be rescheduled if the market becomes more volatile. During the maintenance period, transactions will be unavailable.
"We kindly ask all traders to review their margin requirements and assess the risk of market movement on their open margin positions before entering the maintenance window," the notice reads.
In addition, the exchange also announced the next round of the fee reduction for LEO holders. During the third round, large traders (remaining LEO tokens exceed 1 million in USDT) will benefit from a specific fee calculation model.
As the company spokesperson confirmed, they are going to use LEO for IEO at new platform Tokinex in the long run.