NEO Based Projects to Urge Users to Leave Bitpaction

NEO ecosystem projects report about number of warning signs
09 July 2018   1138

A lot of projects from the NEO ecosystem urged users to withdraw funds from the Bitpaction exchange in the light of the growing number of disturbing signs and lack of feedback from its management. Bitpaction supports several NEP5 tokens, including Master Contact Token (MCT), Bridge (TOLL), Orbis (OBT), Narrative (NRVE), Travala (AVA), and Loopring (LRN). This is written by NeoNewsToday.

One of the first to notice the problem was the team of the Master Contract Token, which wrote in Twitter on July 2 that the administration of Bitpaction does not show activity in the Telegram channel and Twitter for several days.

From that moment the situation only worsened. Bitpaction stopped accepting deposits and raised fees for withdrawing funds. Commission for the withdrawal of bitcoin rose from 0.001 to 0.01 (over $ 65). Commission for the conclusion of NEO, which, according to the information page, is displayed for free, now is 0.5. The output of Travala tokens costs 500 AVA (against 20 AVA in the past).

In addition to growing commissions, there are also problems with the processing of applications themselves. Users with varying degrees of success output tokens TOLL and report that they can not output MCT at all.

As of July 9, projects and users continue to report a lack of communication with the support and management of the exchange. Many people assume that Bitpaction is trying to get more money from its users before closing it.

Projects Bridge Protocol, Narrative, Travala and Orbis individually recommended that users withdraw funds from the Bitpaction exchange.

NEO to Finance Switcheo Development Team

Investments were provided as part of the NEO EcoBoost ecosystem development program, which is $100M in whole
15 January 2020   241

NEO blockchain project invested in non-custodian exchange Switcheo. This was reported by Switcheo developers on their blog.

Investments were provided as part of the NEO EcoBoost ecosystem development program. The amount of investments by companies was not disclosed. It is known that $ 100 million was allocated for the EcoBoost program.

Switcheo CEO Ivan Pun believes that new financing will help his company implement several planned projects, including launching products from the decentralized finance (DeFi) field. NEO founder Da Hongfei said the two projects will continue to “work in tandem” to develop the NEO ecosystem.

Switcheo launched in 2018 and is the most popular decentralized exchange for working with NEO and tokens based on its blockchain. In addition, the exchange allows swaps with assets of the Ethereum and EOS blockchains.

Since February, Switcheo users will be able to pay fees for trading on the platform with NEO GAS tokens. The SWTH token will no longer be used for this. NEO, for its part, will finance the exchange of SWTH for GAS at a set minimum price - it will be determined later. At the same time, a multi-level program will be launched, thanks to which SWTH holders will be able to receive discounts on commissions when trading on the exchange.