Switcheo has started distributing block rewards to TradeHub validators and users who have staked their SWTH tokens, beginning at 11:00 am (UTC +8) on Friday, August 21st, 2020. The reward distributions comes three days after NEP-5 SWTH token holders were able to start staking with validators of their choice.
The launch of TradeHub, dubbed phase zero, allows NEP-5 SWTH token holders to conduct one-way transfers to the standalone chain for staking purposes. Phase zero SWTH staking participants are incentivized with higher than usual reward yields, however they are are unable to transfer their SWTH back to the Neo blockchain until phase one of the TradeHub rollout, which currently has no definitive launch date.
Current Validators
At the time of press, the TradeHub network has 15 validators, hosted by range of centralized exchanges, professional validator pools, Neo ecosystem entities, and grassroots participants.
Source: Switcheo.org
Neo ecosystem validators include Neo Global Development, Neo Foundation, NGC Ventures, and O3 Labs.
Professional and large-scale validators include IOSG Ventures, Zilliqa, Huobi Mining Pool, Binance Pool, Blockhunters, and Stakewith.us.
Grassroots validators include NEO Economy, Switcheolytics, and Guardians of TradeHub. At the time of press, NEO Economy is the most supported validator, with approximately 110 million SWTH tokens staked to its node and 24.00% voting power.
More information about staking NEP-5 SWTH tokens on TradeHub can be found below:
https://blog.switcheo.network/ready-set-go
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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