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Switcheo Exchange, a Singapore-based decentralized exchange offering markets on the NEO, Ethereum, and EOS blockchains, has announced that its EOS/NEO trading pair is now active. Switcheo’s EOS/NEO market uses atomic swaps to settle transactions in concert on the EOS and NEO blockchains, and is the first atomic swap linking the two blockchains.

Atomic Swaps

Switcheo’s market is the latest atomic swap for Switcheo, who previously implemented cross-chain trading between Ethereum and NEO. Its NEO/EOS offering was a collaboration between Switcheo VP of Engineering John Wong’s team and third-party development company Obolus, both of whom were previously subjects of articles on NEO News Today.

Thus far, Switcheo’s atomic swap markets have used a Uniswap-style algorithmic pricing model. Additionally, although the on-chain trading is trustless, Switcheo Exchange currently serves as the counterparty for all trades. However, in May 2019, Switcheo’s Wong stated that expansion of this model was planned, stating, “We have plans…enabling other users [to act as counterparties].”

Switcheo’s EOS/NEO market announcement can be viewed at the following link:
https://medium.com/switcheo/switcheo-launches-cross-chain-atomic-swaps-on-eos-and-neo-7a3262dafdff