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Switcheo Exchange, the first fully functional MainNet decentralized exchange on NEO, has announced the launch of its V2 smart contract. The updated contract comes with support for various new features that should help improve the trading experience for users. The announcement included a promotional video that explains the changes, which can be seen below.

New Features

The largest change to the platform is the addition of a trading API that supports the use of bots. One of the most commonly referenced issues with the exchange was a lack of trade volume, and the use of trading bots will likely assist the liquidity of Switcheo’s trading pairs. Switcheo has also added support for customized deposits and withdrawals so that users may have complete control over the quantities of funds that enter or leave the smart contract.

The user interface has been upgraded to be more compatible with mobile devices, allowing traders to benefit from an improved trading experience while on the move. Finally, Switcheo has added instant trade confirmations so that users may know precisely when an order has been filled.

The exchange can be found at switcheo.exchange.

Update: 12:58am (UTC + 0) – Switcheo Exchange is offline due to an unscheduled maintenance. Trading was suspended due to a large number of transactions being stuck unconfirmed in the NEO mempool. According to Switcheo CEO Ivan Poon on Telegram this was used as a precaution to prevent dependent trades from continuing. The team will provide further updates around 5:00am (UTC + 0).

Switcheo Community Chest

Alongside the V2 contract announcement, Switcheo also noted the release of a new promotional segment known as the Switcheo Community Chest. This segment contains three additional mini promotional events, all of which provide community members with an opportunity to win prizes.

SwitcheoFUN

The first promotional event is a Telegram sticker pack and GIF creation competition. Entries must be focused on Switcheo, and the event will run from 25th July to 8th September 2018. The prize for the Top 10 participants will be a Switcheo Engraved Ledger Nano S hardware wallet. Additional details on the competition and how to enter can be found here.

SwitcheoDRAW

The second promotional event is a lottery that anyone can enter, with 80 winners being selected over four weekly draws held from the 24th of August to the 14th of September. The prizes on offer are Switcheo merchandise including mousepads, t-shirts, pullovers, a Ledger Nano S and SWTH tokens. For more information, click here.

SwitcheoPERKS

The final mini event is a Switcheo exchange trading event, with eligible traders being seperated into tiers based on the total value of NEO they have traded with. Each tier has its own 500 GAS reward pool, and all eligible traders will receive an equal share of the respective tier’s pool. To enter and view the selection criteria, click here.

More information on Switcheo can be found at the links below.

Written by Brett Rhodes