Switcheo Exchange, a Singapore-based decentralized exchange with markets on the NEO and Ethereum blockchains, has announced that its trading markets on the EOS blockchain are now active. Switcheo’s EOS implementation is the result of a recent strategic partnership with Obolus, a Japanese development company.
Switcheo is launching its on-chain EOS trading with support for four EOS markets:
- EOS/CUSD, a dollar-pegged stablecoin;
- EOS/MPT, a token that seeks to “improve cost-effectiveness” of the metal packaging industry;
- EOS/EFX, a blockchain-based Mechanical Turk;
- EOS/IQ, a Wikipedia competitor.
Notably, the EOS market features a “proprietary staking system” that allows users to trade on the EOS blockchain without staking their own EOS tokens, as otherwise required by the EOS blockchain.
Switcheo has launched a trading promotion designed to encourage trading volume on its EOS pairs. Its “Mega League” promotion will increase the total rewards pool for its “Switcheo Chest” community holding incentive, depending on the exchange’s total EOS volume in the 30-day period beginning May 30th, 2019. Its “Multiplier Legends” promotion increases the Switcheo Chest rewards for the top 10 individual EOS traders by volume in the same period.
Finally, Switcheo has announced a community translation initiative, as Switcheo’s recent development has “required a lot of new text to be added to the platform.” The team has made an open call for community translators worldwide to support the project.
Users who sign up via a Google form and are then selected to participate in the program will receive an invitation to join the Switcheo team on the Crowdin management platform. Switcheo is targeting the majority of its translation work to be completed by June 30th, 2019.
Switcheo’s EOS launch announcement can be viewed in full at the following link: