What is Switcheo?

What is Switcheo?

Switcheo SWH

Website

Whitepaper

 

If you are looking for decentralized exchange based on the NEO platform, then you must be looking for Switcheo. Switcheo is a decentralized exchange platform (DEX) that is built on the NEO platform and allows users to use the trustless exchange of NEP-5 token. Users may also expand to other cross-chain tokens using the exchange in the near future.

How does the Exchange work?

To understand better how the exchange works, you need to know what NEO is. The NEO is a smart economic platform that leverages the power of the blockchain technology to digitize asserts. Switcheo Exchange works by allowing users to trade any of the NEP-5 tokens with Gas and NEO immediately.

Features of Switcheo

Security of funds

Users are the only ones in full control of their funds when they trade using Switcheo. The work Switcher’s smart contract is to trade settlements only which means there is total security and user can’t lose their funds from exchange hacks.

Decentralized exchange

Switcheo manages the trading experience on the exchange on-chain, this gives users the experience they are looking for. The experience of a centralized exchange, but with the security of a decentralized exchange.

Trade all Nep-5 tokens

Using the Switcheo Dynamic Call Fu8nction, users are able to trade all the NEP-5 tokens since they become available to trade as soon as the ICO ends. This will increase the users’ experience and advance their chance of trading.

The Switcheo Token and token sale

The Switcheo token is a truly decentralized token. The SWH token can be traded on the exchange together with the NEP-5 tokens. The public sale hard cap is $3,200,000 USD and a total of 750 million (75%) SWH is the public circulating supply. The public sale supply is 200 million SWH, which is 20% of the available token. The tokens will be distributed as follows:

  • 25%: Switcheo team
  • 7%: partnerships and marketing
  • 49%: Private Sale
  • 29%: public sale

How will the SWH be used?

  • Native token: the SWH will be used as the base token for all cross-chain swaps. All operations on the exchange will be completed using the native token
  • Token transaction: the SWH is an additional base trading pair besides GAS and the NEO. This way it provides the highest liquidity to the token.
  • Exchange fees: all exchange fee on the exchange will be done using the SWH token.

The Switcheo platform is led by Blockchain developer Ivan Poon, Frontend developer Henry Chua and Sng Ping Chiang, the Backend developer.

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