Switcheo

FAQ's

What is Switcheo?

The first DEX on the NEO blockchain with advanced atomic swaps between Ethereum and EOs blockchains (cross-chain) since April/2019.

The product that launched Switcheo into existence has been around since 2018 and has had many different iterations and enhancements go into it. The user experience is seamless to pick up and all the hard work from the engineering team shows in how smooth the trading experience can be.

Offering many unique DEX features and with the roadmap of the Exchange allowing it to tap into the TradeHub we will undoubtedly see more changes to the exchange platform soon. This will be the place to trade spot and derivatives market cryptocurrencies on a DEX with zero network fees once this integration occurs since TradeHub opens the door to any base layer chains (i.e. Bitcoin).

🙋‍♀️What exactly is #Switcheo TradeHub?

😌 We have created a quick diagram to help you understand better!

Check out our blog posts for details 👇

Switcheo TradeHub: https://t.co/nHd0B3JDJz
Demex: https://t.co/4vQWeqbXDW
Staking $SWTH: https://t.co/ZpJvtW0sCg#switcheotradehub pic.twitter.com/DhPRX63RwV

— Switcheo (@SwitcheoNetwork) August 24, 2020

Who is the team behind Switcheo?
Management, operational and engineering team is based in Switcheo head office in Singapore which is also supported by a round-the-clock community & support team from all over the world.
Core team:
• Ivan Poon – Co-Founder, CEO – https://github.com/RavenXce & https://www.linkedin.com/in/ivanpoonkm/
• Henry Chua – Co-Founder, COO – https://github.com/HenryTimelessness & https://www.linkedin.com/in/henry-chua-40690284/
• Jack Yeu – Co-Founder, CCO – https://github.com/jackyeu & https://www.linkedin.com/in/jackyeu/
• Yik Jiun Lee – CTO – https://github.com/leeyikjiun & https://www.linkedin.com/in/yik-jiun-lee-4babb0106/
• Terence Toh – COS – https://www.linkedin.com/in/terence-toh-833948100/
• John Wong – VP Engineering – Blockchain – https://github.com/jwheur
• Sng Ping Chiang – Developer – https://github.com/spclight & https://www.linkedin.com/in/ping-chiang-sng-9453b5b4/
• Lim Jia Rong – Developer – https://github.com/holyxiaoxin & https://www.linkedin.com/in/limjiarong/
• Chan Jun Wei – Developer – https://github.com/junw3i & https://www.linkedin.com/in/chanjunwei/
• Faye Xie – Product Lead – https://www.linkedin.com/in/fayexie/
• Clemence Yeung – UI/UX Designer – https://www.linkedin.com/in/manting-yeung/
• Dany Le – UI/UX Designer – https://www.linkedin.com/in/danyhle/
• Prema Tsamy – Marketing Executive – https://www.linkedin.com/in/prematsamy/
• Yanyan Luo – Marketing Intern – https://www.linkedin.com/in/yanyan-luo/
• Intsol – Community manager
• Luke – Community manager
• Kang Long – Community manager
What's the initial token distribution of SWTH?
• 48% – Private sale (raised $5.5M)
• 25% – Switcheo team
• 20% – Public sale (raised $3.2M)
• 7% – Partnerships & Marketing
How to stake Switcheo (SWTH)?

SWTH can be delegated to a validator of your choice from the official Switcheo website or via the command line interface directly.

Please refer to the official tutorials at the bottom of this site.

How much can i make staking SWTH?

Inflationary block rewards are distributed to validators and delegators as an economic incentive for securing the ecosystem through staking. With every block produced, Switcheo will be generating SWTH at a linearly decreasing inflation rate. You can find the current annualized inflation rate here.

The initial inflation rate at network launch was 100%. 1 year after network launch the annualized inflation rate will be 25.14%. After 2 years it will be 9.05% and after 3 years 3.59%. Starting from the 4th year the inflation will be 1.5% and starting from the 5th year the inflation will be 0% and rewards will be derived exclusively from network transaction fees.

The inflation is being distributed between all staking participants. Thus your rewards are higher when more less tokens participate in staking.

You can calculate the current rewards and the rewards assuming any participation rate in the Switcheo Staking Calculator.

Is there any risk to stake Switcheo (SWTH)?

Staking SWTH carries the risk of token slashing of both independent validator and externally delegated balances in the event of malicious activity or downtime. These penalties ensure full accountability of validators to secure the oracle network and maintain high-quality control standards.

Currently, there are 2 main conditions where tokens are slashed:

• Double Signing (5%): This occurs when a validator signs two blocks at the same height on Chain A & Chain B. There will be a severe 5% penalty imposed on the validator and underlying delegated SWTH tokens.
• Downtime (.01%): This occurs if validators have not been available in the last 30000 blocks. If slashed, validators are ‘jailed’ and unable to participate in signing any further blocks until a transaction is sent to Switcheo to prove they are online and operational. We will slowly increase this penalty as our validator pool becomes more stable over time.

For this reason, we strongly encourage all delegators to perform due diligence before choosing a validator. Staking Rewards has a list of trusted and verified validators.

Switcheo is also not responsible or liable for the risks or security flaws of third party wallet partners. Please conduct your due diligence before using applications and transferring funds.