Switcheo have emerged as an important part of the NEO smart economy, the decentralised exchange allows users to buy and sell NEP5 tokens easily and securely. In a recent update it has been announced a Switcheo partnership with O3 Labs.
O3 Labs have designed a cryptocurrency wallet and mobile app built specifically for the NEO smart economy. Much like other NEO wallets users can store and send NEO, GAS and NEP5 tokens via the O3 wallet. The Switcheo partnership with O3 will be part of the O3 dApp platform in which O3 users will be able to trade their tokens directly from their O3 wallets.
Switcheo will be the first exchange to join the O3 dApp platform and the two companies will pool their experience and knowledge in order to provide a smoother experience for all users within the NEO smart economy.
What is Switcheo?
Switcheo is the first ever decentralised exchange to run on the NEO blockchain. Switcheo is one of the first NEP5 tokens and is part of what can only be described as the rise of NEP5 tokens. Switcheo is certainly one of the most exciting projects which will run on the NEO blockchain.
Switcheo had their ICO on 17th March 2018. They raised their max cap of $8,700,000 within 24 hours. There was not too much hype around this project given that they have a fairly small following on social media in comparison to similar projects. Most of the original hype was around Neon Exchange (NEX), however they are still yet to conduct their ICO and Switcheo is quickly cementing their place as the top decentralised exchange on the NEO blockchain.
See Switcheo v NEX
What is O3
O3 is a community within the NEO smart economy, O3 offers a downloadable app which allows users to store and manage their digital assets safely and securely via their mobile device. Starting with the NEO blockchain, O3 targets offering a user friendly functions via a mobile wallet with plants to branch out into other blockchains. They have already added support for the Ontology blockchain and they are now looking to add a range of dApps to their userface.
Switcheo Partnership With O3 Labs
The Switcheo partnership with O3 labs will; be the first exchange to join the O3 dApp platform and once integrated users will be able to trade their NEP5 tokens directly from their O3 wallet. This will once again simplify the process of buying, selling and storing digital assets.
“We had a chance to meet with the Switcheo Team while they were in Tokyo to continue our conversation about the integration. We are excited about what the Switcheo Team has built and is building. This integration will enable our users to log in to Switcheo and trade directly from their mobile wallet, fullfilling many support requests we have received from our users. We are glad to partner with a like-minded company like Switcheo. We always strive to provide our users the best user experience and our partnership and collaboration with Switcheo is part of that.
Switcheo and O3 seem to have very similar goals in terms of the direction they’re heading. Switcheo allow users to securely exchange their NEP5 tokens with plans to branch out in other blockchains, starting with QTUM, Ethereum and potentially EOS and Zilliqa. O3 focuses on safely securing digital assets and after they have announced support for the Ontology blockchain, it looks as though O3 may well be looking to add support fro other blockchains.
As O3 continues to expand our product and service range, we look to implement features that really let users get a feel of the Smart Economy. By building a dApp platform/browser we will enable O3 users to interact with existing and upcoming decentralized applications (dApps) on the NEO blockchain directly from the app. This will also make it easier for developers who want to build decentralized applications to integrate and get people to use their dApp, hopefully increasing adoption and use of the Smart Economy as a whole.”
This is another exciting move for the entire NEO smart economy and once again demonstrated just how important NEO will be to the future of blockchain and cryptocurrencies.
Don’t forget to join our official Telegram channel to track the progress of our live cryptocurrency fund.