Zilliqa recently released a new press release announcing that it has partnered with the Switcheo platform, a decentralized NEO blockchain-based exchange, for the creation of a Zilliqa DEX.
The platform is expected to go live around May, therefore in less than 2 months. Users will be able cTrading with ZIL against different assets, keeping in mind that the exchange also allows cross-chain trading with different cryptocurrencies like Ethereum (ETH), EOS and of course NEO.
Switcheo has more than 34,000 users worldwide and more than 24 encryption assets listed. He recently listed the SNX token and does not require the KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures to be completed.
This partnership is vital in supporting the progress of StraitsX's stablecoin, as stated by Amrit Kumar, Scientific Director of Zilliqa:
“We believe this partnership with Switcheo is essential to support the significant progress we have made for our stable currency initiative, StraitsX, as more companies seek to join. The opportunity to collaborate with one of the world's leading decentralized exchanges was something we simply couldn't pass up as we hope to gain further ecosystem support and seek to solidify our position in the global DeFi ecosystem. ”
Decentralizing exchanges allows for greater security for both assets and privacy, according to Ivan Poon, CEO of Switcheo:
Decentralized exchanges have been recognized for the absence of centralized governance that allows greater security for users and their assets. By leveraging advancements such as off-chain order matching engines and liquidity funds, we look forward to offering Zilliqa operators and token holders a world-class trading experience. ”
Also, this news joins the recent possibility of gambling with ZIL tokens, which was announced about a week ago.
As promised, the Staking ZIP is now officially available to #developers and the public. https://t.co/nHzQCgPIR4
Your feedback is CRUCIAL to this project:
Github ➡️ https://t.co/ZjIyabldC6
Reddit ➡️ https://t.co/eWZcn9nk4S
– Zilliqa (@zilliqa) March 11, 2020