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Switcheo has partnered with Obolus, a firm that delivers solutions in the blockchain and finance sectors. This will enable EOS trading on the Switcheo exchange. EOS will be following Ethereum and NEO on the exchange. Obolus provides an on-chain matching engine functionality which will consequently eradicate the need for third parties, hence boosting security.
Switcheo Exchange recently announced the addition of cross-chain trading (atomic swaps) to its product. Switcheo users can now trade cross-chain between its NEO-based SWTH token and Ether (ETH). Switcheo's decentralized market is the first to offer a trading pair between the Ethereum and NEO blockchains.
Switcheo has just announced plans to expand to the EOS network. In collaboration with Obolus, a fintech research and development company, the exchange will build new smart contracts, allowing users to trustlessly exchange tokens with the fifth largest blockchain ecosystem. EOS will be the third blockchain in the Switcheo market, along with NEO and Ethereum.
A casual observer might think that Switcheo’s decentralized exchange materialized from emptiness. In November 2017, Switcheo’s Singapore-based development team put together a prototype decentralized token exchange to enter the first City of Zion dApps competition. The team’s efforts were fruitful, as Switcheo captured ninth place in a talented pool of entries.
WBTC will allow the Ethereum network to be leveraged to enable new applications and use cases for Bitcoin. WBTC standardizes Bitcoin to the ERC20 format, so DApps such as Compound, Dharma, dYdx, Gnosis, Maker, Set protocol and more can leverage Bitcoin for decentralized lending, margin trading and derivative markets. Further compelling new applications and use cases will be identified, explored and implemented as the ecosystem continues to grow and actively innovate.
Switcheo, a Singapore-based decentralized exchange offering token markets on the NEO and Ethereum blockchains, has announced support for Alchemint's dollar-pegged SDUSD stablecoin. The SDUSD token is issued by Alchemint's smart contract and is designed to hold $1 USD worth of value by locking NEO as collateral.
"Switcheo Exchange was built to facilitate the transfer of digital assets across different blockchains securely without a trusted third party ," says Switcheo's Chief Executive Officer, Ivan Poon. The exchange has come a long way since their successful launch on the NEO blockchain March this year, where daily trading volume peaked at $3 million USD, with over 25300 traders.
On November 19th, Switcheo Exchange launched the Callisto update, which now includes functionality to trade Ethereum ERC-20 tokens on its decentralized exchange (DEX). Switcheo also plans to add a Qtum QRC-20 token DEX to its platform, and eventually cross-chain trading among the three blockchains. According to Switcheo Exchange, this is the first non-custodian exchange to support both NEO and Ethereum blockchains.
It is evident that the next generation of cryptocurrency exchanges will take on a different form. A sentiment shared by leading figures such as Vitalik Buterin, the founder of Ethereum, who recently mentioned that “I definitely hope centralized exchanges go burn in hell as much as possible,”and Da Hongfei, the founder of NEO, who also stated that “Centralised exchanges will die.”