With all the hype surrounding NEX, no one seems to be talking about Switchneo, a project that will soon be launching on NEO.
It was a winner of the NEO Daaps competition and seems to have very promising future as the first NEO Dex.
They ICO is scheduled for mid March with the whitelist already being announced on 12th Feb.
Here are some important details taken from their site: https://switcheo.network/
Release Date
16 Mar 2018, 1PM (SGT)
SGT = Singapore Time (UTC+8)
Public Circulating Supply
750,000,000 SWH (75%)
Public Sale Supply
200,000,000 SWH (20%)
1 NEO = 5,118 SWH (est.) | 1 GAS = 1,428 SWH (est.)
(Price is pegged to USD price of NEO/GAS)
Public Sale Hard Cap
$3,200,000 USD
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Some of the key features of Switchneo are as follows:
Native Token
Switcheo Tokens will be used as the base token for cross-chain swaps. All operations on the Switcheo Network will accept the native token.
Token Transactions
SWH tokens will be an additional base trading pair on the Switcheo Exchange besides NEO and GAS, to provide high liquidity to the token.
Exchange Fees
Switcheo Tokens can be used as payment for a 50% discount on fees on Switcheo Exchange. Tokens used this way are burnt when collected.
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You may be wondering what is the difference between Switchneo and NEX. This will give you a broad overview:
Even their roadmap looks quite promising with a lot of value to be unlocked along the way.
What is the difference between Switcheo and NEX?
At this moment, NEX is focused on the NEO ecosystem and improving it as a whole, while Switcheo Network has a stronger focus on user experience and aims to be cross-chain compatible as quickly as possible; Work on the Qtum blockchain has already begun.
Switcheo also believes that there is space for more than one DEX per blockchain in the ecosystem. The winner in the DEX race will likely be the one with best usability and marketability, rather than pure technical superiority.
It is also possible that the DEX with lower liquidity will eventually combine order books, which should be possible due to the decentralized nature of the exchanges.
We cannot comment about other technical or usability differences as there is no product demo yet for NEX.
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