If you have been following us over the last few months you will know we have reported about a brand new decentralised exchange which launched recently called Switcheo. Switche is part of what can only be described as a rise of the NEP5 tokens, Switcheo allows users to trade NEP5 tokens easily and securely without needing to create an account or store funds on a centralised exchange. Switcheo has already surged in price since their ICO and investors may be about to see healthier returns after they have recently announced their plans for ‘Switcheo Exchange v2.0’.

What is Switcheo?

Switcheo Exchange v2.0

Switcheo had a working TestNet of their current exchange before and during their ICO, which made Switcheo a very attractive acquisition for investors. Switcheo then launched the MainNet version of their exchange on 31st March 2018. Fast forward just over a month and Switcheo have just announced they will be launching Switcheo Exchange v2.0.

The Switcheo Exchange v2.0 TestNet will be live on Tuesday 8th, May 2018. The MainNet will then be launched the following week so by mid May 2018 users are going to benefit from a new and improved version of the Switcheo Exchange.

Switcheo Exchange v2.0 Features

What will be different in Switcheo Exchange v2.0?

Switcheo have announced they will make a number of updates and improvements:

  • New and Improved Transaction Window – This will allow users to see a full breakdown of orders/trades. Including; time and date details, ability to see all trading pairs (rather than just the current pair). As well as a toggle option between trades to show all trades, open trades, completed trades and cancelled trades.
  • Immediate Trade Confirmations  – Currently it takes around 30-60 seconds to confirm a trade. With the new version Switch have made some improvements, now “all trades will be executed and confirmed immediately as long as you have sufficient tokes in your contract balance”.
  • Public Bot API – Together with the new smart contract, Switcheo have reworked their backend API’s to allow external parties to to build transactions and have them broadcasted. This should significantly improve trading volume I the long term.
  • Deposit Flow – Users will be able to choose an amount of tokens they wish to deposit into their contract balance, these tokens can then be used for instantaneous trading.

Switcheo is by far one of the most exciting projects of 2018 and it may well be that this announcement comes at the perfect time given that the NEX ICO is due to be announced some time in May. NEX will be the main competition to Switcheo but given that Switcheo has made their move first they are now developing on their current platform.

Switcheo v NEX