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A group called Aphelion have announced plans to build a P2P trading platform on NEO, along with the APH token which will be used as an escrow utility. A new website, white paper and video have been released in which Aphelion claim to be the first true decentralised exchange through a tokenised smart contract transaction, called a Distributed Exchange Asset Ledger or DEAL.

Investors can apply to participate in private presale, and a crowd sale is scheduled to begin on November 15th. 170 million APH tokens will be available through the crowd sale, which aims to raise $34,000,000 in USD equivalent of NEO, BTC and ETH. Bonus tokens will be available through purchase and referral programs.

The white paper critiques other P2P trading options such as Ripple, Shapeshift, Looping, BitShares, Open Ledger, Bancor and 0x for their reliance on specific centralised elements for operation.

“Several projects make the claim of being a P2P Decentralized Exchange (DEX). However there are very few built as dApps, completely within a blockchain. Some are centralized client to server operations that rely on an organization’s hardware and proprietary software and others are simply a protocol that requires integration into existing centralized exchanges to function properly. Aphelion aims to be one of the pioneers of DEX residing completely within the blockchain as a dApp, requiring only an open source user interface to access data and control smart contracts to trade digital assets.”

Aphelion say they have chosen NEO based on its support of multiple programming languages, allowing for faster development and deployment of smart contracts and the efficiency of the dBFT algorithm.

The roadmap states that Aphelion has been in the planning phases since March 2017, with concept development, marketing planning, research, regulatory compliance, legal consults and filings already complete. Development is scheduled to begin after the ICO in January 2018.

More information can be found at https://apheliontoken.com/

Disclaimer: NEONewsToday.com does not offer investment advice or officially endorse any crowd sale offerings. All readers are encouraged to do their own research before choosing to participate in any form of token sale.