Switcheo Network co founder Jack Yeu has announced that the NEO-based DEX platform is set to become the first ever ETH/NEO trading platform, offering services to support both frameworks with an all new trading interface and a new ERC-20 non-custodian trading platform to support Ethereum-based tokens.
New Switcheo Interface
In a blogpost, Yeu explained that the new Switcheo DEX platform will improve on its already intuitive nature by adding new features to boost user trade efficacy, including a new wallet manager that will enable users to manage and trade their tokens and digital assets across blockchains seamlessly.
He revealed that in the runup to the launch of the new platform over the coming few weeks, Switcheo will carry out periodic previews of the improvements and new features that will come with the update. According to Yeu, the changes and improvements were made in response to requests and feedback from active users and members of the Switcheo community.
He explained:
Many of the changes made have been requested by our most active traders, and we are confident that this update will be very well received by all users.
Switcheo’s Growing Profile
In April, CryptoGlobe reported that Switcheo went live as the first decentralised exchange on the NEO blockchain, reportedly seeing a $2 million daily trading volume during its first week alone. After raising about $8.5 million in its ICO, Switcheo’s developers promised to devise a framework for implementing cross-chain functionality, which seems to be taking place now.
When the update goes live, holders of NEP-5 tokens based on NEO will be able to interact seamlessly with ERC-20 token holders, effectively forming a cross-chain link between Ethereum and NEO. Currently, there are 37 live trading pairs on the Switcheo platform, including trading pairs with NEO, GAS and its native SWH token.
