Switcheo have announced that they will be listing OPEN on their exchange once they have finished the highly anticipated Callisto update.
Switcheo is decentralised exchange which currently runs on the NEO blockchain, allowing users to trade NEP5 tokens directly from their NEO wallets. However, Switcheo have made it no secret that they want to become the biggest decentralised exchange. As part of their roadmap they have been planning an upgrade known as the Callisto update, which will see Switcheo integrate Ethereum and QTUM. Meaning Switcheo users will be able to trade ERC20 and QRC20 tokens.
So far Switcheo have announced they will list bolt which is an ERC20 token and they have now announced they will list OPEN.
We are delighted to announce that Open Platform (OPEN) will be listed on Switcheo Exchange upon the Callisto update. The specific listing date will be announced later. The listing will allow Switcheo users to trade OPEN with ETH on our Ethereum DEX.
OPEN Platform is building the world’s “first blockchain infrastructure for applications”. This will enable software developers to easily and seamlessly integrate blockchain technology within applications.
OPEN envisions a world where all applications accept cryptocurrencies as easily as they do fiat currency. OPEN sees and knows that applications of the future will not entirely be on the blockchain.
OPEN wants to create a platform in which blockchain can be utilised to benefit applications further. For example they want to enable payments, asset issuance, transparency, and audibility. OPEN lets different representations of data, some in decentralised networks and others in centralised ones, communicate
with each other.
Switcheo Callisto Update
Switcheo was the first ever decentralised exchange to run on the NEO blockchain. And is often touted as the main competitor to NEX. Switcheo did have a working product whilst they were conducting their ICO, which concluded back in March 2017.
After a number of exciting updates this year including a partnership with O3 Labs which involves integration into the popular NEP5 mobile and desktop wallet O3.
“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.
The Callisto update is likely to be another hugely positive move for Switcheo, as this will involve adding support for both the Ethereum and the Qtum blockchain. Allowing users to trade ERC20 and QRC20 tokens on the decentralised exchange.
The Callisto update was due to be launched by the end of Q3 2018, however the team have decided to move this back slightly for a few reasons. Including, understanding the Qtum blockchain more. As this is a slightly less mature blockchain they would like o have a more in-depth knowledge before they enable on-chain trading. They are also planning to focus on marketing and partnerships in order to build a larger customer base. This will meant the addition of ERC20 and QRC20 trading will have a greater impact.
To be transparent, I would like to inform our community ahead of time that we won’t be going live with Callisto in September. While there is still some time left in this quarter, we currently foresee that the much awaited update will be pushed back.