NewEconoLabs (NEL), a China-based community developer group for the NEO blockchain, has announced the launch of NELswap, a NEO-based non-custodial exchange. NELswap aims to provide a simple and intuitive user interface for trading, accessible by the Teemo Chrome extension wallet.
According to NEL, the non-custodial exchange has been designed to easily integrate with dApps to minimize the barriers of purchasing services or products. NEL states its non-custodial exchange “is not suitable for whale traders,” but that its “core competitiveness is automatic market-making.”
Through the exchange, users can trade NEP-5 tokens via liquidity offered by NNC, which serve as the intermediary while processing the trade. Therefore, when a project lists a token, it must also allocate a sufficient amount of NNC to make the market. This removes the need for a counter-party, offering instant liquidity for any NEP-5 token.
Token issuers can create trading pairs between their NEP-5 token and NNC at no cost and set the trading price at the time of listing. All trading fees go to the market maker.
In addition to maintaining user-ownership of digital assets, NELswap does not charge listing fees, issue its native tokens, or have a traditional limit order book. Further, NEL claims NELswap can be “embedded in any dApp to achieve one-click exchange of tokens.”
The full article about the NELswap launch can be found at the link below:
https://medium.com/neweconolab/nnc2-0-nelswap-decentralized-exchange-d706dde3b2d8
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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