Switcheo, a decentralized exchange built on NEO (NEO), has formed a strategic partnership with blockchain development company Obolus to enable Switcheo users to trade on the EOS (EOS) blockchain.

According to the announcement, the functionality will use an on-chain matching engine designed by Obolus, allowing users to trade in a trustless and transparent manner. This system is different from other EOS DEXs that often leverage less secure key delegation technologies.

“To easily onboard new users, the new EOS DEX is launched with a proprietary staking system, which pays the network fees for the users while they interact with the exchange contract,” stated the Switcheo team “This first-of-its-kind system will allow users to trade on Switcheo without staking their own EOS tokens”

Switcheo is the first non-custodial exchange to support both the NEO and Ethereum (ETH) blockchains and is currently planning to add support for other major blockchains, including QTUM and Zilliqa (ZIL).

Switcheo’s token (SWTH) is currently up 3.6% to $0.005159, giving the exchange token a $2.7 million market cap.

More: Switcheo Announces Strategic Partnership with Obolus to Launch an EOS DEX
Premium: NEO-Based DEX Switcheo (SWTH) Announces OTC Trading Platform

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.



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