Switcheo ICO preview

We are going to see lot of DEX coming into play this year , potentially changing how crypto market works — in a good way …

DEX is nothing but decentralized exchange for Crypto read more here(my previous article)

I covered little bit about Switcheo in my old article.

What is Switcheo trying to solve?

Switcheo is a decentralized Exchange will let you trade any NEP-5 token with NEO and GAS immediately (basically a dex change built using NEO platform)

1. Switcheo manages the entire trading experience on-chain instead of offchain in centralized exchanges such as binance, giving you the experience of a centralized exchange with the security of a decentralized exchange.
2. User will have full control of the funds when trading on Switcheo. Switcheo’s smart contract only does trade settlements. No more loss of funds from exchange due to hacks .
3. Switcheo main focus on giving users easy-to-use UI for easy adoption
4. Switcheo users new technology called Dynamic Call function, new NEP-5 tokens will be available to trade as soon as ICO ends. This lets you trade your tokens on demand ( Similar to Etherdelta but in better way)

What is the utility of the Switcheo SWH Token?

User can use SWH tokens for getting discount on trading fees based on current USD value of the SWH Token . SWH will also be used as a base on all trading pairs and is the primary means for cross-chain transfers. This is kind of similar to Kucoin and binance coin.

Why switcheo can be a big thing in future?

1. Switcheo founder recently announced they are partnering with NEO Global capital bringing Roger lim in advisory team, this will give lot of attention in Crypto community focused on NEO platform.
2. Switcheo won a prize in City of Zion competition , They have a strong team of developers working full time and hopefully they will hire more developers .
3. Switcheo has a working product and getting ready to launch in March 2018. This is a big news for any ICO .
4. Switcheo will focus on ERC-20 tokens soon, the roadmap says they will do in Q3–2018, I am expecting they may release ahead of the roadmap.
5. Already working with QTUM for integration before ICO

Competition and Threat ?

NEX is another big ICO coming in April end with limited coin supply of 50 Million , it has support from NEO council.

Switcheo explanation as follows on NEX

NEX is focused on the NEO ecosystem and improving it as a whole, while Switcheo Network has a stronger focus on user experience and aims to be cross-chain compatible as quickly as possible; Work on the Qtum blockchain has already begun.

Switcheo also believes that there is space for more than one DEX per blockchain in the ecosystem. The winner in the DEX race will likely be the one with best usability and marketability, rather than pure technical superiority.

It is also possible that the DEX with lower liquidity will eventually combine order books, which should be possible due to the decentralized nature of the exchanges.

We cannot comment about other technical or usability differences as there is no product demo yet for NEX.

Where will the SWH Token be available?

The SWH token will be listed on the Switcheo Exchange after 16th March 2018.

How many SWH Tokens will be distributed in total?

1,000,000,000

How much is a SWH Token?

SWH tokens are USD pegged at 1 SWH = $0.016 USD