Switcheo Network – a decentralized platform that uses native NEP-5 tokens. These tokens, like ERC20, are the main digital assets on the NEO blockchain. They follow a set of rules that follow agreements, called smart contracts.
Contents:
- Information about the Switcheo Network
- Features of using the NEO platform
- How does the Switcheo Network differ from other platforms?
Information about the Switcheo Network
Switcheo Network – the first decentralized exchange on the NEO blockchain, built on top of many popular blockchains. All this contributes to facilitating the exchange of digital assets.
On the Switcheo exchange, you can work with the following tokens:
- Alphacat (ACAT);
- THEKEY (TKY);
- Red Pulse Phoenix (PHX)
- Zeepin (ZPT);
- Trinity Network (TNC);
- QLINK (QLC);
- DeepBrain Chain (DBC);
- PikcioChain (PKC).
Periodically, the team improves the user interface of the exchanger, updates some components and develops interoperability with the QTUM blockchain. Switcheo Exchange charges a commission from 0 to 0.5% per trade, with the size, depending on specific market conditions. The Switcheo team says they will be participating in the swap of their existing SWH token, updating it to enhance the overall Switcheo Exchange cross-chain capabilities. By replacing the SWH token, the identified issues will be resolved, allowing Switchcheo Exchange v2.0 to provide security and an uninterrupted intelligent transactional system.
Features of using the NEO platform
To start using it you need to activate your NEO personal wallet. One of the main advantages of the exchange - the ability to use your own wallet for trading. Therefore, you do not need to register a new account. Open the main page of the portal and select the "Login to the wallet" section. Next, you need to make sure that the wallet is successfully connected. Do it through the "Logged In" button or the "Wallet Balance" tab. After successful activation of the wallet, you can start making exchanges.
Switcheo is a flow of funds, which consists of the following stages:
| 1 | Connecting your wallet. |
| 2 | Linking a deposit to a Smart Contract. |
| 3 | Trade execution. |
| 4 | Transferring the deposit back to your wallet. |
A White Paper document is available on the platform. It provides detailed information on the work of the project. There is no roadmap, but there is a blog, where developers describe the changes, taking place on the site.
How does the Switcheo Network differ from other platforms?
Despite the fact that the project is quite young, it already allows you to trade more than 20 different tokens. Among the main features of the service are:
- the first decentralized exchange in the world to support Nep-5 tokens;
- simple use;
- fast and secure exchanges;
- regular updates and improvements to the exchange;
- instant feedback 24/7.
Decentralized exchanges are much safer and cheaper than their centralized counterparts. Users control their funds when trading on the exchange.
More than 34,800 traders around the world trust this platform. Subscribe to social networks: telegram, twitter, youtube and stay up to date with all news. In addition, there is a referral system. You will earn 50% of your friends' trading fees.