What is Switcheo (SWTH)?
Switcheo (SWTH) is a decentralized cryptocurrency exchange, built on multiple blockchains, currently available on Neo, Ethereum and EOS. For Neo, Switcheo supports trading NEP-5 tokens and Neo system assets such as NEO and GAS. Switcheo aims to build an open and decentralized financial network with a world-class experience where users can transact freely and securely with each other.
Switcheo is the project that won the 9th prize in the first dApp development contest organized by City of Zion from September to November 2017.
Decentralized Finance is expected to flourish in 2020, and decentralized exchanges (DEXs) such as Switcheo are an integral part of this trend.
Features of Switcheo
For existing cryptocurrency lovers, trade by simply connecting your wallet. For new explorers, just sign up with email, so that Switcheo can generate a non-custodial wallet for you.
Switcheo is an actual DEX. User funds are secured and protected by audited smart contracts. Your funds never leave your control, with the highest security standards in this industry.
Trading on Switcheo is instant. Users are able to trade across blockchains using our novel combination of Automated Market Makers and Atomic Swaps.
Switcheo TradeHub is the next evolution in decentralized cross-chain trading built on Tendermint Core.
Switcheo exchange is integrated with multiple third-party wallets, bringing you complete privacy without sacrificing convenience. Trade immediately through the open-source or community-built wallet.
Open Market Protocol
Switcheo TradeHub will accept any market to be created by anyone. Markets can be simple spot markets or derivatives of any underlying asset. Liquidity Pools and Automated Market Makers ensure liquidity in all created markets.
Decentralized exchanges allow peer-to-peer transactions on the blockchain using smart contracts. It allows users to trade cryptocurrencies without taking the risk of asset custody like centralized exchanges. A true decentralized exchange, therefore, will be non-custodial, so even the exchange owner will not have access to the user’s token.
Switcheo OTC platform
Switcheo OTC is an over-the-counter (OTC) crypto-to-crypto trading platform, leveraging smart contracts without their existing trust (currently available on Ethereum and NEO), by enabling Users perform peer-to-peer transactions with zero partner risk and super low fees.
The Switcheo Chest is a program that gives participants the opportunity to commit to staking – a amount of SWTH in exchange for a reward. The Switcheo Chest Program in 2020 with the name “Switcheo HODL Elite” has just been launched to celebrate the event of Neo Eco Fund investing in Switcheo.
Switcheo Chain is a temporary name for the upcoming project of Switcheo team. Through this project, the team wants to further decentralize their application. This innovation will allow Switcheo to move its trading tools into a distributed system of nodes acting as a sidechain, completely decentralizing the entire infrastructure of Switcheo.
How do Switcheo Tokens work?
Switcheo Network has its own NEP-5 token on the NEO blockchain. Switcheo tokens were released in a public crowdsale starting on March 16, 2018.
There is a public circulating supply of 750 million Switcheo Tokens (SWTH) out of a total of 1 billion tokens.
The SWTH token will be used as the basic token for cross-chain swaps. All activities on the Switcheo Network will accept the original token.
SWTH tokens will also be available for trading on the exchange: SWTH will be an additional base trading pair in addition to NEO and GAS to provide high liquidity for SWTH tokens.
Switcheo’s team consists of four developers and three consultants. Developers include Ivan Poon (Co-founder, CEO), Henry Chua (Co-founder, CTO), Sng Ping Chiang (Blockchain Developer) and Jack Yeu (Co-founder, CCO).
Switcheo is a decentralized exchange that provides trading for all NEP-5 tokens. NEP-5 tokens are NEO, ERC20 tokens are Ethereum: it is the preferred standard token.
Switcheo will offer mixed trading on its exchange. Users will be able to complete transactions while maintaining full control over their tokens. However, users will also enjoy centralized trade management – so Switcheo aims to provide the benefits of a decentralized and centralized exchange in one transaction.
You can check SWTH price here.