New EOS DEX Launch Is Happening By Way Of Switcheo Network And Obolus Partnership
Switcheo Network Partners Obolus In The Release Of EOS DEX
Switcheo Network, the NEO Blockchain-based decentralized exchange platform has just entered into a mega strategic partnership with Obolus. It announced this development with the Japan-headquartered research and development firm whose primary focus is at the vibrant finance and Blockchain industries via Twitter.
According to a lengthy post from Switcheo Network, the partnership will effectively allow those who trade on the exchange to use the EOS blockchain. This basically means the Network will now permit one to trade, ETH, NEO and the soon-to-be-released EOS tokens on its platform.
The decentralized exchange aims to make use of Obolus’ super-efficient on-chain matching machine to allow traders to seamlessly conduct fair and 100% trustless transactions. One awesome thing with the partnership is the cadre of technology employed in the development of the matching engine; it’s unique, unlike any other EOS DEX ever made.
And so, to conveniently bring onboard every user of Switcheo Network, plans are already underway on how it will be rolled out. According to the decentralized exchange, the new EOS DEX will also come with a patented staking system that will meet all the network fees on behalf of the users on the exchange.
Basically, this revolutionary engine will make it easy for traders to “exchange” on the Network without necessarily being forced to stake their EOS tokens. The idea is a huge relief to a majority of those who use it and often have to use separate wallets because of the different Blockchains. They’ll only need to create Switcheo Account start trading right away!
Obolus is a team of seasoned retired Ph.D-holding physics, computer science, and mathematics gurus. They founded it when they were still at Japan’s biggest online broker, called SBI, where they first tested the algorithm on the capital market’s trading desk.
After two years of testing on the trading desk, they were confident they had created the best trading platform for the broker’s centralized crypto exchange. And so, from November 2018, the team chose to pursue their project and that’s how Obolus was born.
Obolus is backed by the developers’ experience in algorithmic in the finance industry. They spent years trading while having direct market access, a factor that still gives the competitive edge of designing what’s for the globe’s super-competitive exchange industry.
And with Japan being ahead in all-things crypto innovation and regulation, the Obolus team is able to predict what’s going to rock at the market better than anyone else. The team’s interactions with the players at the dynamic Japanese market also give them a hint of why both individual and institutional crypto investors would prefer their solutions to be user-friendly, safe and affordable.
Massive Reason To Trade On Switcheo Network
Switcheo Network, being NEO Blockchain’s pioneer decentralized exchange, currently allows traders to buy and sell ETH, NEO, and the yet-to-be-released EOS tokens. By introducing cross-chain swapping capabilities, this exchange will have done a lot in allowing safe and trustless trading.