Switcheo, beat Nex to it! Exciting Dex on NEO blockchain ….Plus updates on ICO
If you have been a part of the cryptocurrency community over the last few months then I’m sure you will of noticed the rise of NEO. The Neo blockchain can handle many times more transactions than Ethereum and has been busy developing the ‘Neo Eco-system’ which will be coming online throughout the year. Many NEP-5 token sales have been hot property so far with most selling out in minutes. Probably the most anticipated of any NEO based project is Nex, Neo’s decentralised exchange and many thousands of people will be wanting to get on the Nex whitelist which I believe is planning a lottery based system to distribute tokens.
Its fairly ironic then in these circumstances that while everyones eyes were on the Nex Exchange another equally exciting decentralised exchange project built on the Neo platform known as Switcheo slipped by all but the most keen eyed crypto investor. Switcheo also has a couple of advantages over Nex being first to go live and also developing cross chain support.
Here is a quick summary of Switcheo and some updated news regarding the token sale which will be music to the ears of those who only made the ‘Wait-List’
What is Switcheo
Switcheo is a decentralised exchange built on top of the Neo Blockchain. It will facilitate the exchange of NEP-5 tokens ( QLC, TNC, RBX, DBC etc) and Neo’s system asset tokens GAS and NEO. Trade settlements will be peer to peer eliminating the centralised aspects of exchanges such as Bittrex. Although presently built on the Neo Blockchain eventually Switcheo plans to achieve a network of decentralised exchange capability enabling cross chain swops to other blockchains like Ethereum (ERC20) and QTUM (QRC20). Exciting stuff!
Token Sale
Whitelisting has already been completed for the upcoming ICO which will take place on March 16th. The first 5000 to participate were whitelisted followed by another 5000 who are on the waiting list. KYC will take place before the token sale in march.
Updates
Today the project have announced their first strategic partnership with Neo Global Capital and have added one of its founding partners Roger Lim to its advisory team. The development team has also been busy and there is now an updated version of the exchange that you can check out via this link …. https://switcheo.exchange
Token sale Update
There was some great news today for people on the waiting list, who previously were told they will need to wait to see if anyone drops out of the first 5000. However today Switcheo has updated the rules of their sale and Waitlisters will all be able to participate provided their KYC is approved. They have increased the number of tokens available for the crowdsale and have created a 2 tier system so that everyone can participate that has registered. Very smart move ….
Summery
What we see with Switcheo is not only ground breaking tech that finds a perfect niche within crypto and within the Neo-ecosystem, we see a team that truly cares about its community already. Its bounty program is very generous and todays announcement to include more investors in its token sale is superb. They engage with the community well and are capable of delivering a very necessary product within the space. The roadmap is great, the metrics are fantastic and I really can’t say enough good things about this exciting and innovative project.
2018 could be Switcheos year! 🚀
LINKS ..
https://switcheo.network/index.html#token
METRICS …
