Switcheo Trade Hub is an open source dPOS order matching system that is built on top of Tendermint Core which allows users to perform cross chain trading in a fully decentralized manner – no KYC / AML or exchange’s control over funds.
This could be huge as it gives Switcheo Trade hub an edge over Uniswap by allowing users to perform trades on three chains – Bitcoin, Ethereum and Neo.
YFI will be making of Tendermint’s Tradehub chain and not Neo’s blockchain. One possible reason behind this would be to move all interior activity to Neo in order to perform feeless and faster transactions. The results can later be moved back to Etheruem blockchain. This will make Neo the work scratchpad.
A lot of users have started to hate Neo and it too has its share of problems. That said, Neo does solves the issue of rising fees and congestion on the Etheruem blockchain that are acting as hurdles for making DeFi a success. Tradehub makes interoperability between etheruem and neo easy and this is what makes Switcheo tradehub so interesting.
Switcheo Trade hub will go live on December 15th 2020.