Sunday January 24, 2021
Bitcoin (BTC) $31,991.00   Ether (ETH) $1,242.77
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas.net
No Result
View All Result
Home Crypto Exchanges

Switcheo upgrades Ethereum contract to enhance DEX

Published by CryptoNinjas.net
10/08/2019

Switcheo Network, a NEO based multi-chain decentralized exchange application, today announced the upcoming release of ‘Switcheo Jasper’ a significant upgrade to its existing Ethereum smart contract. The update will bring important new features and performance improvements for users.

New Features

  • More Extensive Ethereum Tokens – Switcheo will now be able to list a wider variety of tokens that are not yet supported by other DEXs, allowing multiple unique listings. The list of tokens will be announced after official launch.
  • Lower Fees – With the upgraded contract, Swticheo’s fees will be reduced by upwards of 50%. The code will also be heavily optimized in preparation for the upcoming Istanbul hard fork on Ethereum. When the fork happens, network fees will be further reduced by 30%.
  • Faster Withdrawals – Multiple dApps and DEXs, including Switcheo, have experienced periods of deteriorated performance due to congestion issues on the Ethereum network. This means longer withdrawal times for users because additional time is needed for trades to be settled. To solve this, the newly launched contract will feature batching strategies which will increase transaction speeds by 3x. Withdrawals will be processed much faster, and users will not face noticeable delays even under a congested network.
  • Greater Transparency – Now users will also be able to view details of any transactions they are signing. This will delivers greater transparency and security to all our users on the exchange.

Limitless Liquidity

A big reason for the upgraded contract is the possibility for any decentralized liquidity pool to be integrated with Switcheo. This means that liquidity from markets such as Uniswap, Kyberswap, 0x, Bancor, or any future automated DEX can be combined with Switcheo’s off-chain orders into a unified order book.

With this, users will be able to fill orders across multiple exchanges through a single order on Switcheo. The unified order book on Switcheo will feature strong, constant liquidity, attracting traders who are not interested in waiting for takers. This feature will be enabled shortly after Jasper’s launch.

Process For Upgrade

To guarantee a seamless transition to the new contract, Switcheo Exchange will undergo maintenance on Thursday, 10 Oct, 11 am SGT (UTC+8). This is estimated to last for 6 hours. During this maintenance, all trades, deposits, and withdrawals will be disabled.

All open orders for the ETH market will be canceled and all funds will be withdrawn from the Ethereum V1.0 contract to the respective wallet addresses for every user, no user action is required. All orders on the NEO and EOS markets will not be affected.

“We’re pleased to have completed a 3rd-party audit for the new contract with lucash-dev, an experienced security researcher who has uncovered issues with multiple high-profile smart contracts in the past, including a critical bug in the upcoming Maker upgrade. The Switcheo team will be continuing to conduct additional formal audits to increase the security and confidence of the new contract even further. We’re confident that this will allow Jasper to be a highly vetted and secure system on the Ethereum blockchain.”
– The Switcheo Team

26
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related Posts

Switcheo’s new decentralized spot trading platform Demex is now live

12/17/2020

Ontology, Neo, and Switcheo introduce new interoperability network

08/18/2020
Switcheo to launch DEX for blockchain platform Zilliqa

Switcheo to launch DEX for blockchain platform Zilliqa

03/16/2020
Multi-chain exchange Switcheo gets investment from Neo Eco Fund

Multi-chain exchange Switcheo gets investment from Neo Eco Fund

01/14/2020
Switcheo completes integration of Kyber Network liquidity protocol

Switcheo completes integration of Kyber Network liquidity protocol

12/24/2019
Switcheo CryptoNinjas

Switcheo lists atomic swap market for NEO/DAI

09/12/2019
Load More

Discussion about this post

Recent Updates

Blockchain supply chain solution SUKU releases social impact DeFi protocol

Crypto wallet Cobo adds support for Binance Smart Chain

Prediction market platform Omen to integrate crypto data oracles from API3

Mirror Protocol brings synthetic stock asset exposure to Binance Smart Chain

Crypto exchange Upbit shows over 100% user fund capitalization in audit report

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit

Trending Views

Billions of dollars in bitcoin becomes available to creditors of Mt.Gox bitcoin exchange

Zilliqa tokenizes rare single-malt scotch whisky casks, now available to accredited investors

Crypto payment and wallet project TenX shuts down

GateHub launches Wallet Protect to cover up to $100K for XRP ledger wallets

Fenbushi Capital launches $15M+ investment fund for Filecoin and IPFS ecosystem

  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version