Switcheo Network, the first decentralized exchange on the NEO blockchain which allows trading of Ethereum, NEO, and now EOS tokens, announced today that its anticipated EOS DEX is live.
The EOS DEX market first announced last month, is a marriage between Switcheo’s modern trading interface and Obolus’s powerful on-chain matching engine. The EOS DEX is a fully trustless, fair and transparent platform designed for users to trade on the EOS blockchain seamlessly and securely.
“This launch has allowed Switcheo to be one of the first non-custodial exchanges on the EOS blockchain. We are pleased to reach this milestone together with our partner, Obolus, with whom we share a common vision for a decentralized financial system.”
To easily onboard users, the new EOS market was launched with a proprietary staking system, which pays network fees for the users while they interact with the exchange contract. This first-of-its-kind system will allow users to trade on Switcheo without staking their own EOS tokens.
“Our smart contract will process trades on the blockchain, at a blazing fast speed. With Switcheo’s elegant and intuitive trading interface, EOS traders can trade with ease while retaining ownership of their funds on Switcheo Exchange.”
EOSPark was selected as Switcheo’s preferred EOS block explorer, along with Scatter as the first EOS wallet available with the new trading market.
Atomic Swap Market Additions
This past week it was also announced that Switcheo will now list NEO/ETH and SDUSD/DAI atomic swap markets.
Traders will finally be able to buy or sell NEO with ETH in a trustless manner for the first time, via Switcheo’s cross-chain atomic swaps.
The Ethereum based stable coin (DAI) can also now be directly swapped for Alchemint’s token NEO based stable coin (SDUSD) in a swift and liquid manner.
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