Published: Mar 06, 2018

Neon Exchange (NEX)

Website

Status

ICO

NEX is a platform for complex decentralized cryptographic trade and payment service creation.

Whitepaper

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Updated: May 04, 2018

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User Rating

Medium

3/5 • 1 votes

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Ticker

NEX

Type

Utility-token

Token standard

What is Neon Exchange

Neon Exchange (NEX) is a platform designed to facilitate decentralized cryptographic trading and payment services.

NEX is a decentralized exchange that will run on the NEO blockchain (Chinas public blockchain). It employs a publicly verifiable off-chain matching engine to process trades and support complex orders. NEX team are planning to introduce exchange on Ethereum later on.

NEXs major objective is to consolidate the performance of centralized exchanges with the security of the decentralized ones. The NEX system includes three main components: an off-chain trade matching engine, smart contracts for trade executions, and payment service.

NEX payment service will be able to convert global assets, e.g. NEO and GAS, to tokens that can be transferred directly by smart contracts. The NEX token is a utility token. NEX holders will be able to claim their profits through a staking process. It will operate similarly to GAS claim calculations on the NEO network.

NEX is also offering a wallet extension that enables coordination between NEX, dApps and websites. NEXs MainNet trading release is set for Q3 2018.

Neon Exchange Roadmap

Q1 2018

Launch of web extension for dApp integration with NEO blockchain and NEX exchange
Registration, lottery, and KYC for NEX token sale
Release of an open source framework for conducting such sales, including smart contracts, wallet and extension integration, KYC, and backend website
Open source framework and template for interaction with NEX banking partner APIs
Announcement of partnerships

Q2 2018

Participation for lottery winners in the NEX token sale
Matching engine launch on NEO TestNet, along with v1 of exchange APIs for testing with our liquidity creation partners (e.g., trading bots)
Trading interface launch on NEO TestNet: usability research and information gathering from alpha testers
NEX web extension support for ETH and ERC20 tokens
Buy and sell NEO, GAS, and RPX through banking partners
Release of v1 of web extension dApp APIs, for integration on client websites and smart contracts on ETH and NEO (e.g., APIs that allow websites to interact with smart contracts, or request payments in NEO or ETH or constituent tokens from a user)

Q3 2018

Beginning of trading operations: Matching engine and trading user interface launched onMainNet with support for NEO, ETH, NEP5, and ERC20 tokens
Cross-chain token conversion support in NEX extension wallet
Launch of staking contract on NEO for holders of NEX to receive exchange revenue

Q4 2018

Once required licenses are granted, NEX and other security token trading starts on NEX
Advanced trading features
Cross-chain support for trading BTC, LTC, and RPX on NEX