Switcheo Decentralized Exchange Launches OTC Platform
Decentralized Crypto Exchange Switcheo Announces Its Own OTC Platform This Thursday.
The project promises that the application of its existing smart contracts on the Ethereum and NEO blockchains will allow users to transact without counterparty risks and with extremely low fees. Switcheo OTC Public Beta Kicks Off March 4th.
To attract traders to the new OTC platform, Switcheo will provide a no-fee trading option for the first month. In the future, users will be able to use SWTH tokens to receive discounts on commissions.
Like the main exchange, Switcheo OTC will be a completely non-custodian platform. For the exchange of tokens, the same account in the smart contract will be used as on the exchange, which, according to the project, allows you to count on the usual levels of speed of order execution and process transparency.
Switcheo OTC will initially support a limited set of tokens and will not allow the exchange of assets issued on different blockchains. After the NEO V3 update, all ERC20 and NEP5 compliant tokens will be released to the OTC platform, including even those that are not in the main order book. With the addition of the atomic swap function, users will be able to exchange assets between blockchains. Switcheo does not specify the time frame for this process..
ERC20 token support on Switcheo, which was originally an exchange focused exclusively on the NEO ecosystem, was added last November.
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