Zilliqa token holders and traders will soon have the ability to tap into digital assets on the Ethereum blockchain for the first time. The high-performance, high-security blockchain platform has announced a partnership with Switcheo, the first decentralised cryptocurrency exchange on the NEO blockchain, to build a non-custodial, decentralised exchange (DEX).
Users and traders on Zilliqa DEX will not need to sign-up to the exchange to access trading services. This simplified on-boarding process coupled with API-based mobile wallet integrations will allow users to swap between different assets without any infrastructural hindrances.
The new Zilliqa DEX will leverage a Uniswap-like exchange model along with an atomic swap protocol, enabling traders to undertake automatic digital asset exchanges without the need for centralised intermediaries. In addition, users will be able to contribute to liquidity pools allowing for consistent market-making while enabling them to earn a cut of transaction fees, encouraging participation for token holders across the Zilliqa ecosystem.
Switcheo is the industry’s first multi-chain DEX that enables cross-chain trading of Ethereum, EOS and NEO-based tokens. With an existing user base of over 34,800 traders around the world, Switcheo supports 24 cryptocurrencies and 43 market trading pairs to date. In January, Switcheo received a significant equity investment from the NEO EcoFund, as part of the Neo EcoBoost programme.