Switcheo has announced that August 12th, 2020 will be the official launch date of TradeHub, a standalone order matching engine formerly referred to as Switcheo Chain. The launch, dubbed phase zero of the rollout, will allow NEP-5 SWTH token holders to conduct one-way transfers of tokens to TradeHub to stake. In prior coverage, Switcheo indicated that “it will not be possible to transfer tokens to the Neo blockchain or other addresses during [phase zero].”
The phase zero beta test of the staking protocol aims to reward SWTH stakers with higher reward yields. The first month of the staking pool will net users a 7.3% return, whereas rewards for the third month will decrease to 5.3%.
In its announcement, Switcheo included a step-by-step guide to staking SWTH.
Staking on TradeHub
The Switcheo TradeHub is an open-source, delegated Proof of Stake (dPoS) order matching engine built on top of the Tendermint Core byzantine fault tolerant (BFT) consensus mechanism. Switcheo claims TradeHub will be able to handle more than 1,000 transactions per second and a peak load of 10,000 TPS.
Users will be able to earn interest by contributing to the public liquidity pool, which will also offer a native automated market maker (AMM) for each digital asset market. The AMM model allows users to stake tokens into liquidity pools for spot trading, similar to the Uniswap protocol on the Ethereum blockchain.
Further, contributors to liquidity pools will share maker rebates, and profits from the bid-ask spreads.
The full article and staking guide can be found at the link below:
https://blog.switcheo.network/the-preemptive-guide-to-staking-swth/
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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