The Switcheo Labs team has announced that TradeHub will undergo a rebrand and going forward will be known as Carbon. Alongside the rebrand, the Carbon chain will launch at a new genesis block. Since Dec. 2020, the Switcheo Labs team has progressively moved towards architectural and political decentralization. The rebrand is part of an effort to uncouple the standalone matching engine from the Switcheo Labs brand identity.
TradeHub is an open-source, standalone order matching engine built to process and execute trades through a small group of specialized validator nodes. The matching engine’s “sidechain” transparently batches and executes the trades conducted on the platform’s supported layer one blockchains such as Neo and Ethereum.
On TradeHub, staked SWTH tokens are posted as collateral to ensure that trades are performed according to the rules of the exchange. Validator nodes that do not follow Switcheo’s rules of operation when matching and exchanging customers may have their staked tokens destroyed, along with those tokens that are delegated to them.
The SWTH token will remain the governance token on Carbon.
The Carbon protocol will continue to be aimed at fulfilling the initial vision of Switcheo’s TradeHub, to enable financial transactions without the need for trusted intermediaries, with low costs and high speeds. At the time of press, the protocol connects with Neo Legacy, Ethereum, Binance Smart Chain, and Zilliqa, with support for more blockchains planned.
On Tuesday, Oct. 5, the TradeHub TestNet blockchain was migrated to the Carbon protocol. This means that validators are using the TestNet as preparation to replace the TradeHub matching engine with the Carbon matching engine.
Looking forward, the Carbon MainNet is expected to launch when all of the current validators on the network are prepared for the conversion. The TradeHub chain will pause during the migration to allow validators and Switcheo Labs core developers to update the old nodes to the new Carbon nodes. Once more than 67% of the validators upgrade to the Carbon chain, it will begin producing blocks.
Switcheo Labs notes that all funds will remain safe as the core developers and validators migrate to the new chain.
The Carbon website can be found at the link below:
The full announcement can be found at the link below: