Switcheo Exchange, a Singapore-based non-custodial exchange that is currently hosting markets on the NEO and Ethereum blockchains, recently announced a strategic partnership with Obolus, a Japanese development company. The partnership aims to bring on-chain EOS trading and EOS markets to Switcheo Exchange.
EOS Decentralized Exchange
Switcheo claims that the advantages of the “efficient on-chain matching engine” from Obolus include trading that is “fully trustless, fair, and transparent.” Switcheo also claims the “technology is unique” when compared to other decentralized exchanges built on the EOS blockchain.
The Obolus-designed DEX also uses a staking system to pay users’ network fees while trading and placing orders on the exchange. The staking system, which Switcheo claims is the first on EOS, means that Switcheo users do not need to stake their EOS tokens to interact with Switcheo’s smart contract.
Switcheo is also planning to offer support for EOS trading through the Switcheo Account non-custodial login service.
NEO/EOS Cross-Chain Trading
Switcheo has previously announced plans for NEO/ETH cross-chain markets in April 2019. CEO Ivan Poon responded to a NEO News Today inquiry by revealing that “The cross-chain trading between EOS and NEO will come shortly after the EOS DEX launch.”
Full details of the Switcheo/Obolus partnership are available at the following link: