Switcheo Network — End of Q3 Round-Up

V1 /V1.5 Contract Balance

We strongly encourage traders who still have tokens in the legacy V1 and V1.5 Switcheo Exchange smart contracts to withdraw their remaining tokens as soon as possible.

This is as the topic of implementing minimum transaction fees on the NEO blockchain has been in discussion by core developers. In such an event, withdrawals from legacy contracts may be delayed.

Furthermore, our upcoming interface for Callisto will not support legacy contracts, and users will have to access our separate web page to withdraw their tokens.

Withdrawing tokens before the above two events occur will ensure that your experience remains frustration-free.

Please refer to the guide below for instructions to withdraw your tokens from MainNet V1 and V1.5:

Switcheo Token Usage Report

We have released our token usage report here:

Trading Fee Update

With the integration of the Ethereum blockchain coming up, we have taken a re-look at our trading fees. The following table shows the updated trading fee structure beginning on Oct 30, 2018.

Updated Fee Structure

Additionally, trades with a notional value of less than US$500 will now bear the cost of blockchain network fees, until our cross-chain implementation is complete.

These new rates will allow us to absorb network fees for the Ethereum blockchain above the threshold amount, and let us pay a larger network fee on the NEO blockchain, which will benefit traders through more reliable confirmation times.

To offset the change in discount, Switcheo tokens will be used in our upcoming loyalty and referral programmes to further reduce trading fees and earn rewards. These programmes are aimed at encouraging increased token usage as well as the holding of tokens.

We believe the updated fee structure and new programmes will let us remain competitive, while better supporting the interests of our community.

Welcoming Switcheo’s New Marketing Lead

Join us in extending a warm welcome to our latest hire — Junice Liew! Junice is joining Switcheo as our Senior Marketing Manager.

Junice is an experienced marketer with an in-depth knowledge of the Media, Marketing, Private Education, and FinTech industry. She is a veteran in the creation and management of marketing and communications strategies, and previously spearheaded numerous growth and development campaigns in companies such as Eyecorp (oOh! Unmissable), Moove Media and JCDecaux.

“I am extremely impressed with Switcheo Exchange and the vision of decentralization which Ivan and his co-founders share”, said Junice regarding her new position. “FinTech is a sunrise industry in Singapore and Switcheo is at the forefront. I am excited to be working with this team and bring Switcheo Exchange to greater heights!”

Our CEO, Ivan Poon, has these words for our new hire: “We are glad to be able to continually attract talents like Junice. I am confident her strong leadership will guide us in our vision to be among the top exchanges in the world.”

You can find out more about Junice here.