NEO released trade and payment platform

NEO blockchain project made an annoucement of the release of cryptographic trade and payment service creation built on NEO
21 November 2017   1545

NEO, a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a "smart economy" with a distributed network, made an annoucement, stating that NEX, a platform for complex decentralized cryptographic trade and payment service creation, was released on November 21.

NEX is stated to be a trade and payment platform that combines the NEO blockchain with an off-chain matching engine to enable faster and more complex trades than existing decentralized exchanges. 

The whitepaper and roadmap were published on the official website on NEX service. It was stated that NEX plans to hold token sale in the first quarter of 2018, planning to sell 25 million tokens to the public of a total pool of 50 million. The exact dates of the token sale are unknown yet.

On Novemer 19, the price of NEO cryptocurrency jumped up due to the announcement of Malcolm Lerider, NEO council and senior R & D Manager, which did not contain any exact information but stated that three pieces of news were yet to come in 3 days. The news of the release of NEX platform seems to be one of the big news alongside with the news of first NEO and Microsoft developer’s competition which will be held from November 20, 2017 to  March 10, 2018.

During last 24 hours NEO has been steadily losing its positions falling down by almost 10% from the price of $42,8 with market capitalisation of $2,7 billion on November 20 to the price of $36,9 with market capitalisation of $2,4 billion on November 21.

At the moment of press, these are main market parameters of NEO:

  • Average price: $36,97 
  • Marketcap: $2,402,829,000 
  • 24h volume: $242,893,000

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   141

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.