Hi everyone! First of all, we would like to give everyone our most heartfelt thanks for their endearing support during our very successful crowdsale.

We felt that the Switcheo token sale went extremely smoothly thanks to our community managers, support staff, and of course, all of you, for your patience during this event. We know first-hand that purchasing tokens in ICOs can sometimes be frustrating, especially for first time users.

Manual refunds for extra NEO / GAS sent in are ongoing. In the rare occasion that you did not receive any SWH tokens at all after sending in your funds, please use support@switcheo.network for enquiries. Do be patient while we process your transaction. This likely means that the transaction sent from your client was malformed — we will need to verify it manually before sending you guys the tokens.

Switcheo Tokens have been unlocked for transfers between wallets.

Airdrop Program

We are officially ending our airdrop program for articles and videos today. As our crowdsale has ended, we are refocusing our efforts on marketing campaigns that target user growth directly. Submissions after 19 Mar 2018 23:59 SGT will not be considered.

Bounty tokens will be distributed over this week, and you should receive your tokens by 26 Mar 2018.

Timeline

Following our crowdsale there has been some questions about when Switcheo Exchange will go live. We’re just as excited as you guys about this, but after careful consideration, we have decided not to immediately launch at the present time.

Our target launch date remains as stated in our whitepaper — Q1 2018 (by 31st March).

We understand that users have different (often opposing) concerns about the timing of listing various tokens in the current market.

However our primary responsibility remains the integrity of our smart contracts and the usability of our platform. At this time, we feel that more time needs to be given for internal and public testing of our exchange on our private test net.

As such, we are building additional features and utilities that we feel will greatly improve our user experience, which is described in the next section.

We are also happy to announce that our bug bounty program will officially begin today, and will continue indefinitely — full details will be announced in a separate post shortly.

New Features & Utilities

Gas faucet — Our team is building a gas faucet which can be used in combination with the Switcheo Exchange to trade without requiring any gas in the user’s wallet. In future, we would like to allow system fees to be paid in any token (instead of only GAS) through the use of this faucet.

Transaction splitting and batching — In order to improve the speed of each order, we’re improving our transaction creation to reduce gas cost for each order while optimizing the number of transactions required. This means users can fill or make multiple offers without needing to approve multiple times like in IDEX.

We also have very exciting news for mobile traders soon. Please stay tuned!

Token Listing Criteria & Process

Finally, we would like to provide some clarity on the listing of tokens on Switcheo Exchange.

Switcheo Exchange is a fully decentralized exchange. The goal is for users to be able to add the contract hash of any token themselves. (A contract whitelist will be initially implemented solely for security reasons. This whitelist is coded to be irreversibly removable by the team when the NEO platform is hardened against cross script attacks.)

The Switcheo team intends to only audit tokens shown by default on the official Switcheo Exchange UI. Eventually all NEP-5 tokens will be listed but we will initially do a slower rollout of officially supported tokens while the exchange performance is stress tested. The initial batch of NEP-5 tokens will be tokens from partner companies who have or will work with us in multiple ways.

More to come

We will keep our community posted, and this week is set to be one packed with further announcements and updates.

Please follow our official announcement channel for the latest updates!