How to Trade Oil, Gold, Silver & Most Anything Else, On the BlockChain.
The true power of Governance and Demex, revealed in this interview with a Switcheo Community Manager.
Pacific Validators met with Luke, one of the Switcheo Community Managers, to get the inside scoop on Demex, Switcheo, and all that’s been going on lately.
Luke is one of the Community Managers on the Switcheo Team, and has been with Switcheo since February, 2018. He takes care of all things related to the community as well as writing/editing guides, answering questions, resolving issues, answering emails, etc. He is quite a busy man. Chances are, if you are in the Switcheo Telegram channel, you have noticed how much the community managers really do.
It’s safe to say Luke is well-versed in the Switcheo Ecosystem, but also Cryptocurrency at-large. He was able to break down exactly what the Ecosystem consists of, what each part does, and the “Big Picture” behind Switcheo’s Mission and Protocols.
With so many Cryptocurrency assets to choose from, why are people so focused on Switcheo.Network? Simply put — Switcheo boasts a strong ecosystem of products, backed by a world-class team.
Switcheo Ecosystem
Demex — Decentralized Exchange (DEX) First fully decentralized platform that supports any type of financial market possible. Allows for cross-chain trades with almost zero network fees, 150x leverage, derivatives, futures, options, market and stop market orders (rare for a DEX) (Luke).
Staking Rewards and Liquidity Pools are all available on the same site in one place.
Switcheo TradeHub — A sidechain built on Tendermint, using Cosmos, to accommodate Switcheo, Zilswap, and Demex exchanges as they evolve over time. Integration of which allows for seamless cross-chain swaps and derivative trading (groundbreaking for a DEX)(Luke).
Currently, NEO, EOS, ETH and others are too slow to accommodate high volume trading. TradeHub was built as a sidechain to allow for scaling and is capable of up to 10,000 TPS in burst.
Avoids going “on-chain” (to a centralized matching engine) and allows Switcheo users to function completely in a decentralized way (using its decentralized trading protocol)(Luke).
Switcheo Exchange — It offers Spot Markets, Cross-Chain Swaps, and Tokens.
Staking Rewards — If you buy and stake SWTH tokens, you receive the trading fees from all exchanges/applications running on TradeHub, and currently also block rewards (Luke).
Zilswap — A Decentralized token swap protocol. Fully decentralized AMM protocol for ZRC-2 token exchanges on Zilliqa (Switcheo).
Switcheo Foundation — “An ambitious non-profit project to create an open ecosystem for fair, self-regulating financial markets that are free from manipulation and intervention from centralized entities” (Switcheo).
Luke expects that Futures and Derivatives will begin trading on Demex in early 2021. After which, gold, silver, oil, etc. will be added.
Did you know all we have to do to add markets is to vote them in, using Governance? This includes gold, oil, and others (Luke). This means that we could potentially be trading oil on Demex as early as January 2021.
This is a big deal so we had to dig a little deeper…
“Luke, are you saying that all we need to do is a Governance vote (yes/no) to add oil, for instance?”
“Yeah. Everything should be in place and ready for those, they would just need to be voted on. Like a Gold/USDC market” (Luke).
As soon as a Proposal is submitted and agreed on, Demex can go live on any market.
And with that sweet thought, we go into the New Year. 2021 on Demex will be like no other, and the excitement continues to mount. The Switcheo community buzzes on in anticipation of each rolling feature. Luke is there to moderate it, and we’re here to share it with all of you.
We asked Luke to participate in our “Show & Tell” feature and he did not disappoint.
Show — share a meaningful photo that represents something special to you, or would help us understand you better.
— and/or —
Tell — tell us about a life experience, achievement, or reflection that impacted your life in some meaningful way.
Show -
This is my dog, Happy. She is the most important thing in the world to me. I’m a huge dog person, and hope to get another in the near future.
Tell -
I watch more sports than anyone you know (MMA, boxing, CFB, CBB, NBA, and NFL) but don’t have a single favorite player or team. Besides that, I’m really into books and movies, but watch little to no TV shows.
(Luke)
The Pacific Validators team is a bunch of dog lovers. Welcome to the fam Happy.
Works Cited
Luke. (2020, December 28). Personal interview [Personal interview].
Switcheo. “Finance without Limits.” Switcheo, 2020, switcheo.network/key-features.
