Allows holders to claim a share of feesthat is generated by people using the token payment service.
NEX will, for the first time, use NEO, NEO Gas and the NEX token itself as initial trading pairs to allow for the purchase and sale of NEP -5 tokens. NEX will utilize both on – chain and off – chain logic to fulfill trading. A quick and handy widget like feature that is also said to be incorporated in NEX is a Google Chrome extension which is a crypto wallet at its core. A light – weight wallet that stores altcoins off line yet allows for quick and seamless trading on the go on an ad – hoc basis. The mastermind behind the offering here is a man known as Fabio Canesin. He is listed as the co – founder along with Fabian Wahle and Ethan Fast. Canesin has a masters in computational mechanics and variation multi-scale modeling. He is also behind another venture called Lemonaid Learning Analytics in Brazil and has no dearth of experience under his belt in various industries. Fabian Wahle is no slouch and holds a PhD in machine learning and artificial intelligence. Ethan Fast is another co – founder and also a developer who is a PhD holder himself and specializes in HCI and Artificial Intelligence. At the top of the Marketing division is a lady named Carla F. de Pavia who also manages public relations. She holds a MSc and also a couple of MBa’s. The marketing for NEX has been rather unorthodox. However, when it comes to NEX, there isn’t even a Telegram chat forum in place. The marketing strategy here seems to be a bit different and underhand. The White Paper for NEX seems pretty flawless. They have planned their work, and now it is time to work the plan. The preliminary road map is well thought out and specific. There are some unique features being offered by NEX that are unprecedented so far. They check all boxes when it comes to advantages and have very few critics and cons. Sales will start at 1 USD per NEX and we definitely recommend investing in NEX. Especially given that they will soon allow you to trade fiat directly for NEX. What more can you ask for? The coin is set to launch off and if all goes well, it is only heading in one direction – straight up! Is your network connection unstable or browser outdated? Today, cryptocurrencies are placed on centralized exchanges where they are targeted by platform managers and hackers. DEX (Decentralized Exchanges) offer a layer of security by giving users an encrypted blockchain network and the ability to create smart contracts. However, due to concepts such as verification and mining, it can be difficult for keep up with a high volume of users within their network. That’s why Neon Exchange (NEX) was created, and our review will help you discover its strengths, disadvantages, and why the decentralized exchanges need it. Neon Exchange was made with the goal of solving the issues that are made by regular decentralized networks. It’s used to combine security and trust properties from decentralized exchanges while also offering the same level of intense security as centralized exchanges. Neon Exchange has three main components: It works by allowing its users create their own type of taker/maker fee structure. This means that market makers who want to create new limit orders don’t have to pay a fee. Takers who want to create a limit order or an order that’s below the market price will have to pay a fee. This gives it the ability to make it faster than other decentralized exchanges. Having the ability to create these orders help the network run without having to wait for long transaction times. Neon Exchange is ran by NEO’s blockchain network and can help you receive your cryptocurrencies while having a strong platform behind it. NEX gave a token sale during the first quarter in 2018. They plan to sell a total of 25 million tokens to the public, out of a total pool of 50 million. After they work with their legal advisors, then they will release a new public sale. Neon Exchange wants to be compliant with their regulators so that they can expand their sales to as many countries that will accept them. Disclaimer: Our post was made just to inform and educate our readers. We don’t create investment advice. Speak to your advisor before investing and invest knowing your own risk. Incorporated in the Netherlands, NEXT.exchange is a next generation stock exchange committed to offering alternative financing and non-banking asset management solutions outside of traditional financial systems and banking establishments. Unlike them, we place all assetsstraight into the Blockchain ledger. 24⁄7 Dynamic Community Development and Management. 13%weight This rating’s weight is reduced by 50% as there is no review added. ICO Advisor | Securities & Banking law | Former US Marine JAG OfficerRated on Dec 25, 2017 12%weight This rating’s weight is reduced by 50% as there is no review added. Fintech & ICO Lawyer Rated on Dec 23, 2017 9%weight This rating’s weight is reduced by 50% as there is no review added. Marketing Consultant, ICO advisor, Community Manager and passionate investor.Rated on May 11, 2018 4%weight This rating’s weight is reduced by 50% as there is no review added. 61%weight Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer’s results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.Ratings and ICO analyzer results are being updated (re-calculated) every few hours. Neon Exchange’s (NEX) goal is to be a better version of Ethereum. It does this by combining the NEO blockchain with an off-chain matching engine to enable much faster, larger volumes of trading and more complex trades than the existing decentralized networks. These types of complex trades include market orders, limit orders and trading on the margin. NEX also has a payment service that enables third-party smart contracts on NEO to receive global assets such as NEO and GAS. Neon Exchange aims to combine the performance of centralized exchanges with the trust and security of decentralized exchanges. Neon Exchange combines the NEO blockchain with an off-chain matching engine to enable faster and more complex trades than existing decentralized exchanges. CoZ is focused on the blockchain and decentralized applications, specifically in the NEO network. To understand Neon Exchange’s technology, let’s first take a step back and understand the NEO blockchain at a basic level. The NEO blockchain is seen as the biggest competitor to Ethereum. Launched in 2015, it was known as China’s first public blockchainand known as Antchain until 2017 until it rebranded as NEO. In comparison, Ethereum can handle only 15 transactions per second. Neon Exchange wants to be the first decentralized exchange to allow its users to trade tokens on the NEO blockchain. The question is: How will it go about doing this? First, let’s take a look at the Ethereum blockchain and how it’s built. Ethereum is built on an Account Model. This means that a user’s balance of Ethereum is stored as a number in the Ethereum Virtual Machine (EVM) and can be modified through smart contracts. (Nodes form the backbone of the Ethereum system and help validate transactions in the system). Neon Exchange, on the other hand, is built on a UTXO model, which means that funds are sent and received through a chain of separate IDs on the network. Thus a payment service layer was introduced to Neon Exchange that converts global assets (such as NEO and GAS) into smart contract tokens through the payment service address. It combines the best of both worlds: smart contract interaction is provided while also proof that transactions have taken place. The idea is that this exchange will spread and other networks will adopt UTXO models with smart contracts. With the use of a third-party you can access your XNEO, sending some of it to another user who then authorizes a second smart contract to use the rest. The second smart contract withdraws NEO from the payment service. It’s not enough that this new exchange will be compatible with NEO, however. The team envisions multi-chain transfer between other exchanges such as Ethereum and Cardano. The idea is to also allow fiat currency exchanges, which will lead to decentralized banking. This is a long-term vision of the organization. There will be a maximum of 50 million tokens available, which Neon Exchange hopes to use to raise $25 million for half of the tokens. The other half will be distributed between its founders, the NEO Council, partnerships and an employee stock ownership plan. The NEX token is a security, which means that the team can only list the token on exchanges permitted to trade securities. This option doesn’t currently exist, making it a bit of a challenge. However, tokens were sold via their website through a lottery. First rounds of the lottery allowed a maximum contribution of $1000 while second rounds allowed a maximum contribution of $9000. The actual token sale will be announced in April 2018. Each NEX will be the equivalent of one US dollar The main difference between Neon Exchange and other decentralized exchanges are that it offers an off-chain matching system. When orders are handled off-chain in a trusting and secure manner, it allows for faster transactions. On-chain protocols (such as 0x, Kyber and Loopring) will still be used, however, to improve liquidity. A few partnerships are already planned, such as Thor bank, to integrate NEX into their infrastructure. Neon Exchange will first run on NEO and later expand to run also on Ethereum. At that point it will have ETH, ERC20, NEP-5 and GAS token trading, but this is scheduled only for Q3 of 2018. Neon Exchange recently announced that their legal team has determined that Japan, South Korea and China can participate in the ICO. The US, however, is blocked from participation. The NEX token sale is scheduled to be in April 2018. Another facet of this scenario is that security tokens in the not do distant future will be a big oppurtunity similar to how securities are sold post ICO currently.
Buy Neonexchange ICO Whitelist
- Smart contract where the trades take place
- Payment service where NEO and GAS can be turned into tokens and traded into smart contracts.
- Off-chain trading machine engine
NEX by Q4 2018 will have BTC, LTC, RPX, ETH, NEO pairs.
On a decentralized exchange whos offchain enginge matching and vault memory banks to rival centralized powers. It will have staking. Along with other exciting tech that i mentioned in the video. If you recall my sentiment on exchanges such as Switcheo and others investing in exchanges is based off the product it self. NEX will def fill a void imo in the DEX space even with Swticheo now out there and working in a decent enough fashion. Thats all i will really comment on really. Thanks FABIO CANESIN Co-Founder & Developer FABIAN WAHLE Co-Founder & Developer ETHAN FAST Co-Founder & Developer LUCIANO ENGEL Co-Founder & Developer THOMAS SAUNDERS Co-Founder & Developer NATHANIEL WALPOLE Designer CARLA F. de PAIVA Marketing & Public Relations Neon Exchange was made with the goal of solving the issues that are made by regular decentralized networks. ICO release of 50 million tokens (1 NEX = 1.00 USD) The final allocation: The NEX proposal appears to be a good solution to common problems. In addition, in the white paper, it is stated that this could eventually provide a long-term solution for global decentralized banking. On the side of the risks, this is an ICO that could run into regulatory problems, just like most ICOs. There is also the common risk that new technology makes this proposal obsolete before it can get the support it needs. Twitter – 49,9k followers, couple of posts a week. On average, over 200 retwitts and 400 – 200 likes per post. Whitelisting-10 march – 31 march Token sale : Since 1 April Accepts: NEO, GAS Q1 2018 Token sale and open source platform launch. Nex token sale and release of open source platform for token sales on NEO. Q2 2018 Payment Service Launch. On MainNet for NEO and GAS. Also, matching engine launch on TestNet supported by CLI. Q3 2018 Trading MVP Release Trading interface and matching engine launch on MainNet: begin trading NEO, GAS and NEX. Also, cross-chain demo on ETH and NEO TestNets. Q4 2018 Cross – chain Launch and Margin Trading. Cross-chain launch to support trading of ETH and ETH tokens Thomas Saunders Co-founder and Developer B.A. University of Minnesota Creator of neo-python Co-founder CoZ Nathaniel Walpole Designer B.A., Design for Industry, Northumbria 2017 UX UK Award Winner Designed for Fortune 500 Companies. Samuel J. Mansfield Designer Autodidact Enterprise UI Designer Designed for Alexa 500 websites. David Schwartz Developer B.A., UC Berkeley Former Core Engineer (Leaf Group) Core Contributor to Neon Wallet. NEX is a decentralized exchange (DEX), which means there isn’t a central company holding your money while you trade on the exchange (such as Coinbase or Binance). Smart contracts are utilized on a platform such as Etherium or NEO to execute trades in a DEX, which allows you to hold your funds in your own wallets. This is great because centralized exchanges that hold your coins can be subject to hacks or failure that could lose your coins. Now the only thing you have to worry about is losing your keys yourself! An example of a current DEX is Etherdelta. Neon Exchange is based in Switzerland and as of this writing has a team of ten people with two advisors. Quickly looking at their LinkedIn, it appears they have solid blockchain experience, especially in NEO. Many of them are involved in City of Zion, the open-source NEO developer community. Another great thing I noticed is that one of their advisors, Da Hongfei, is actually a NEO Founder! So far so good! NEX seeks to differentiate itself as a hybrid between a decentralized exchange and a centralized exchange running on the NEO platform. Completely decentralized exchanges that run on the blockchain summer from slow transaction speeds. They solve this by creating an off-chain matching engine that will pair and confirm trades. Once the matching engine matches to a seller or buyer, it will call the NEX smart contract to execute the order. Because NEO allows many smart contract calls per transaction, there can be 100K+ trades per second. The benefits of this model are that you get both the speed of off-chain and the security of executing trades through smart contracts. You get to store your own private keys, which you use to sign the smart contract. Additionally, unlike other DEX, you will be able to submit market, limit, and margin orders like a fully centralized trading platform! See below for fee schedule. They use a maker/taker structure that also has less fees based on your trading volume. These fees are slightly higher than Kucoin and Binance (.1%) but are in line with Gdax (.25% to .1% depending on volume). I’d say the increase in fees is probably worth it to have peace of mind of owning your coins in your own wallet. Similar to other exchanges, NEX will offer a token that pays out trading fees to users holding the coin. They plan to release 50M in a Q1 ICO. You collect payouts based on fees they collect through trading and their payment service. See below for example calculation for holding 1,000 NEX staked at 75% with $100M traded. Depending on what their payout structure ends up being, I think this will blow up similar to KCS, BNB, and COSS. People are realizing that the return on these payout coins is high, especially as crypto continues to grow. I would like to see discounts on trading for holding NEX, similar to what the other exchange coins offer, but did not see this mentioned in the whitepaper. Not a ton of information on their roadmap currently, but I’m sure they are heads down on getting the platform live. Important dates I noticed were: What I like: I hate storing my coins on exchanges and trusting them. I personally can’t wait for a strong DEX to allow me to actively trade with my coins in my control. I also like that they have a strong team experienced in the NEO platform. I think the bridge of both off-chain and on-chain will give the security and speed solution that we need. What I don’t like: They are still a long way from a working product. Their UI/UX and trading platform itself could be a disaster and we won’t know until we start using it. I’d also like to see the NEX token give trading discounts to holders. It also looks like from the roadmap only ECR20 and NEP5 tokens will be traded on the platform which limits the types of coins available to trade. What I plan to do: Provided I can buy into the ICO (details on when in Q1 that will happen pending), I plan to buy some NEX. I’m bullish on dividend coins and I think it’s worth the risk. Exchange coins are great because you actively make money vs. speculating just on coin price. Finally, the NEO ecosystem is really taking off. This is a great way to invest not only in NEX but as a platform to trade other tokens on the NEP5 NEO platform. Note: All images from NEX whitepaper. If you liked what you read, here’s my NEO wallet for tips 🙂 ASsTKVEZBduHaN97w44frvz8bT6BDJj3Qt Quoted from the Whitepaper on page 8. 5 NEX Token The NEX token allows holders to claim a share of fees generated by the payment service and In total, 50 million tokens will be issued that entitle holders to a share of the fees taken by the exchange and payment service. NEX holders can claim their profits through a staking process, where claims on the staked NEX operate similar to GAS claim calculations on the NEO network. this way, token holders who stake NEX benefit directly from the success of the exchange services: as more fees are generated, holders will receive larger rewards. Ethereum is the current master class for decentralized apps and ICO projects. It is the platform of choice at the moment, which has largely driven the positive price action of ETH when others have declined. There may be new contenders for this digital crown, though, and NEO and its smaller sibling, GAS, could be among them. Reports have suggested that GAS could participate in the ERC20 ecosystem as Ethereum previously did. Additionally, it will be the easiest way to buy any tokens launched on the NEO platform. We’re pleased to present the $NEO TALK @ DevCon web show, feat. interviews with over 20 speakers by CryptoBud, Chico Crypto, Crypto Love and YLGV and simulcast across all their YouTube channels and our Twitter. https://t.co/MzZmkhnPio pic.twitter.com/xai3Fk4yFm Both NEO and GAS are getting a lot of attention at the moment, with a developer conference and live web show scheduled for January 31st. The marketing kung fu for this team is strong, and price action for both altcoins has reflected that. GAS has been a rocket ship over the past two days, jumping from around $50 at the weekend to over $70 today. Likewise, NEO has shown strong gains, increasing over 45% in the past week. According to Livecoinwatch, it is currently trading at $164, up trending for most of the past seven days. Reports also indicate that a new decentralized crypto exchange will be launched on the NEO platform as an ICO in the next month or two.
Buy Neonexchange ICO Allocation
- Samuel J. Mansfield (Designer)
- David Schwartz (Developer)
- Evgeny Boxer (Developer)
- Carla F. de Paiva (Marketing and Public Relations)
- Da Hongfei (Advisor)
- Erik Zhang (Advisor)
The Neon Exchange (NEX) aims to be fully operational by the third quarter.
According to the official website: NEX combines the NEO blockchain with an off-chain matching engine to enable much faster and more complex trades than existing decentralized exchanges. Neon Exchange will be more than just an exchange. There is a plan to include an API which will facilitate the purchase of NEP5 tokens, which are launched on top of the NEO platform. In the way the ERC20 tokens and ICOs are largely powered and purchased with Ethereum, this will be the genesis of an entirely new ecosystem powered by NEO and GAS. With cross-chain support for both ecosystems, Neon Exchange could be a game changer for NEO and GAS, which have both shown solid gains while other cryptos have struggled. [Disclosure: the author of this article is a holder of NEO.] Will a new NEO exchange take Ethereum’s crown? Add your thoughts in the comments below. Images courtesy of Neon Exchange, Twitter/@NEOnewstoday, and Max Pixel. NEX will be the first exchange to utilize NEO, NEO Gas and its own NEX token as base pairs to trade NEP-5 tokens. 2018 is the year of decentralized exchanges. DEXs can never be shutdown or get hit by any regulatory agency. The potential for decentralzied exchanges is enormous. To solve this issue, NEX is going to use “off-chain matching engine”. Orders are signed and sent from user addresses to the matching engine, where they are quickly and deterministically processed using high-performance hardware. Matched orders are then signed off-chain and committed back to user accounts on the blockchain. It is more detailed in 3.6 of the whitepaper. NEX will develop solutions for payment services and will collaborate with Red Pulse on defining standards and APIs for the delivery of these services. The NEX token holders will get a share of the fees generated by the NEX exchange. For this feature the users have to stake the tokens in the NEX wallet, and they will then automatically get payouts. This is similar to the function of NEO & GAS. The fees received will be a direct cut of fees across each token on the exchange. For example, if Neon Exchange is trading NEO, GAS, NEX, DBC and so on…the user would receive a share of each of these assets. Over all 50 million tokens will be issued. which will give the holders a share of the profits generated by the payment service and exchange features of NEX. As the platform grows, there will be more fees generated, and thus more payout, making the token inherently more valuable. NEX opens registration for the token sale lotteries In the first round, we will conduct lotteries among all registered users to select participants for the token sale. The first lottery will select up to 25k participants to contribute up to $1,000 each. A second lottery will select participants from the remaining users to fill any gaps left by participants who failed to register or wished to contribute under the maximum individual limit. Lottery registration closes First 25,000 lottery winners are announced on our site. Winners of the lottery will receive a number that identifies them uniquely in the KYC process. This number can be reproduced from a user’s registration information using a deterministic algorithm that we will publish at that time. KYC process opens for winners of the first lottery. All lottery winners will be required to go through our KYC process. KYC closes for winners of the first lottery Second round of lottery winners announced! Any unregistered spots from the first lottery will be filled through a second round lottery and those winners will be announced. KYC process opens for winners of the second lottery. All lottery winners will be required to go through our KYC process.. KYC closes for winners of the second lottery. The NEX token sale begins He holds an MSc in Computational Mechanics and Variational Multiscale Modelling and also is a research Engineer at Schlumberger-Doll Co-founder CoZ. Fabio is the originator of the City of Zion concept and a Co-founder of the project. Furthermore he is also Co-founder and CTO of Lemonaid Learning Analytics, a tech startup in Brazil. Overall a well rounded CV with great experience in the startup world. He is holding a PhD in Machine Learning and AI from ETH Zurich. Fabian is a co-founder and CTO of Augmented Reality med-tech company Altoida and also a Co-founding member of City of Zion. He is holding a PhD in HCI and AI from Stanford. Ethan is the founder of a Y Combinator backed startup, Proxino, in addition to being a Co-founding member of the City of Zion and a creator of Neon Wallet. He has nearly 10 years of experience in engineering and analytics. The most recent one was with SIGMA. Furthermore he is as a co-founder of City of Zion like the rest of the Co-founder board. Advising the team are NEO Council founders Da Hongfei and Erik Zhang. Da is known as the founder and creator of the NEO Smart Economy project as well as the CEO of the Onchain company. Erik is a NEO Founder and core developer, Founder and CTO of Onchain, author of the DBFT consensus mechanism. They are well known person in the crypto space and are adding a good amount of trust to the NEX project. This is the published roadmap so far: Q1 2018 – NEX Token Sale and the release of open source platform for token sales on NEO. Q2 2018 – Payment service launch on MainNet for both NEO and GAS. Also, matching engine launched on TestNet, supported by CLI. Q3 2018 – Trading interface and matching engine launch on MainNet: begin trading NEO, GAS, and NEX. Q4 2018 – Cross-chain launch to support trading of ETH and ETH tokens. Also, support for margin trading on MainNet. 2019+ – Decentralized banking: smart contract asset management across chains. With people like Da Hongfei on their advisory board combined with the Co-Founder experience of the whole team make this project exceptional good for short term AND long term hold. Especially if you take into account that the scalability for NEX is near to endless with the Cross-chain launch and the support of ERC20 on top of the NEP-5 tokens. Overall i am very bullish on this project and i am looking forward to invest into it. A slight setback for investors is, that the ICO will run over a lottery system. Neverthelss everyone should try his “luck” and should also consider buying them after day one on exchanges. Homepage: https://neonexchange.org/ Whitepaper: https://neonexchange.org/pdfs/whitepaper_v1.1.pdf Twitter: https://twitter.com/neonexchange Medium: https://medium.com/neon-exchange Like Loading… Don’t understand the concerns here. You can just install it to apply and then deactivate it until you need to transfer funds if you are selected. Besides, you can use a separate profile or even a portable browser. Everything is very efficient and transparent in my opinion. In the best case scenario, these concers will remove people from the lottery, which is good for the rest! :D NEO, the smart contracts platform sometimes called the ‘Chinese Ethereum’ (as it is backed by the Chinese government), has been rising fast. At the time of this writing, it is the 11th most valuable cryptocurrency with a market capitalization of about $5.5 billion. Many think that NEO could eventually unseat Ethereum as the premier smart contracts platform, mainly due to scalability. Right now, Ethereum does only about 15 transactions per second whereas NEO has a theoretical limit (emphasis on theoretical) of 10,000 transactions per second. There are also questions concerning the amount of centralization involved in NEO’s smart contract compared to other blockchains, such as Ethereum and Bitcoin. Only time will tell which platform will be the ‘victor’. But Neon Exchange, or NEX, may be the catalyst that takes NEO to the next level. NEX is billed as a ‘high performance trade and payment platform’ that is built on the NEO blockchain. Its key value proposition is that it allows both cross chain exchanges and fiat-crypto exchanges. Crucially, it intends to achieve this while also delivering the highest standard of trading performance. Now, NEX is far from the only decentralized exchange out there. Some examples of highly rated ones that are also operational (NEX is still very much a work in progress at the moment) include IDEX, Stellar, and Waves. The advantages that NEX intends to offer over the current crop of decentralized exchanges are performance, usability, and the aforementioned capability to use fiat to enter the exchange. The way that NEX will allow users to use fiat currencies to enter into the exchange is through a partnership network with various financial institutions. However, at this time, no partnerships have been announced yet. If NEX turns out to be successful, it would be a huge boost for NEO. In fact, some have speculated that NEO’s price spike in the beginning of 2018 was at least partly due to investors anticipating an NEX ICO and airdrop. As it is with the entire concept of blockchain and decentralization in general, the problem with the decentralized model comes down to performance. One of the main advantages of centralization is efficiency and scalability; this is a key reason why blockchain is still far from mainstream use. An oft-mentioned statistic is Ethereum’s 15 transactions per second compared to Visa’s 40,000 to 50,000 transactions per second. The advantage that the decentralized model offers is trust. So at the moment the tradeoff that people face is between trust and performance. Reduced performance means a lack of capability to execute more complex trades as well as giving up arbitrage opportunities. Some solutions other decentralized exchanges implement to attempt to get around this include state channels and off-chain relay. NEX’s offering is this: the performance levels of centralized exchanges at the expense of a small amount of trust. Key to NEX’s performance promises is its unique off-chain matching engine. While NEX has yet to release technical specifics on its matching engine (its Github is still relatively empty), it has explained how this engine would work.
Buy Neonexchange ICO Account
- Tokens gain value over time (this applies to tokens in general, so nothing new here)
- Regular income through their share of the generated fees (a new way)
When a user confirms an order, it is sent to the engine for processing.
Once the trades are matched with the other party, they are signed off-chain and committed back on-chain to the user accounts. The trade itself is executed via smart contract. For cross-chain exchanges, since the engine is off-chain, it will be able to communicate with smart contracts on any number of chains. The engine is also able to ‘batch’ matched orders back to the blockchain, improving scalability. The whitepaper claims that assuming a speed of 1,000 transactions per second, NEX could potentially execute over 100,000 trades per second on-chain. This will allow immediate trading after a previous order without any delay, allowing a trader to react quickly to market conditions. That said, there is an element of slightly reduced trust. After all, how would a user know whether the engine is matching trades fairly? For one, NEX ensures that the engine never has access to the full balance of a user’s account; only active orders. Second, the deterministic algorithm that it uses to match trade will be made public. Third, NEX will also offer bounties for spotting errors in the engine. Another defining component of NEX is its web extension for improved usability. Through the use of APIs, NEX wants to integrate everything into a single web extension. If successful, users can use a single website to trade cross-chain (making it the first cross-chain browser extension) and fiat as well. NEX is not just for trading; it’s a payment platform as well. As such, one potential application is a web app that can collect payments for goods in cryptocurrency but cash out in fiat. Unlike most blockchain projects nowadays, the NEX token will not be a utility token. Instead, the NEX token will function more as a stake in the entire NEX. Holders of the NEX token will be allowed to share in the revenues generated by the fees charged on NEX. Here’s a quick example. Assume that you own 10,000 NEX tokens and the NEX ‘fee pool’ is $10 million. If you staked your tokens for 2 years at 75% you would receive (10,000/50,000,000 x $10 million x 75%) = $1,500. The total NEX tokens supply, as you can see from the equation above, is 50 million. Users can opt for two methods for receiving their payouts. The first is via a direct cut of fees across each token on the exchange. So if NEX is trading on NEO and GAS, the user will receive a proportional share of both. In the second method, the user can specify a preferred asset type, with NEX performing an automatic conversion. Because of this profit sharing model, NEX notes that its token will be registered as a security, beginning in Europe. As for the fees themselves, NEX operates on the market maker/price taker model. Market makers will pay no fees while price takers pay a fee ranging from 0.13% to 0.25%, depending on trade volume. These fees will be added on top of any GAS payments. It seems that the NEX project is operating slightly behind its planned schedule. It’s already one month into the second quarter of 2018, yet a couple of milestones designated for the first quarter have yet to be achieved. For example, it has yet to announce its partnerships. Out of the 50 million NEX tokens, 25 million will be made available for sale. There will be no private sales, and while Chinese citizens can participate, US citizens, despite NEX’s best efforts, will not be able to. The ICO’s price will be 1 NEX = $1, and it will be split into two parts. The first round will occur sometime in May 2018 and will only last for one day in estimated block time. The maximum contribution per person for this round is $1,000. The second round will be for any unsold tokens, will last for two days, and have a maximum contribution of $9,000. Participants for both rounds are selected via lottery. All lottery winners have already been chosen, and the KYC for the first round participants was completed in early April. The KYC for the lottery winners for the second round of the ICO is currently ongoing. With a maximum of $25 million for its ICO, NEX is far from a ‘mega ICO.’ It doesn’t even have a Discord or Telegram group. Yet, there is a good chance that the full 25 million will be sold out within the first round of the ICO. The fact that the NEX team made it last only one day shows how confident they are in their project. Hence, in the short term, NEX has a lot of potential. Over the long term, NEX identifies a clear market need and has proposed an innovative solution for solving it. Keep an eye out on NEX’s development. What do you think of NEX? Could this project be the catalyst for NEO unseating Ethereum in the future? Let us know your views in the comments below. Featured Image from Shutterstock. is a leading independent blockchain news outlet that maintains the highest possible professional and ethical journalistic standards. Journalists are required to meet our and guidelines. Neon Exchange (NEX) has become one of this year’s most talked about upcoming ICOs. NEX combines the high performance of a traditional centralized exchange with the trust and security of a decentralized exchange. Due to all the hype surrounding ICO investing, we focus on the facts and prefer to present arguments without any emotions. The team at BlockAlive analyzes ICOs against a number of criteria listed below. This post in particular summarizes and evaluates the NEX project. NEX is a cryptocurrency exchange built on the NEO platform. It will allow all sorts of NEO tokens to be exchanged directly from a wallet. Such a service will provide a secure way for you to exchange your coins and provides a fast and reliable environment for payments. The official slogan from the NEX Whitepaper uses these words: NEX is a platform for complex decentralized cryptographic trade and payment service creation. Decentralized exchanges (DEX) are becoming increasingly popular. Many traders and blockchain experts talk about the future of trading. Is the future of trading in decentralized exchanges? Surely you have heard the term “decentralized ” used with everything. Privacy and security are one of the main concerns of investors and traders, so that is why decentralization has come straight to trading platforms. A good trading exchange must have a combination of performance, trust and security. Those three elements are the most important for any environment that collects or works with money. Firstly, the NEX platform brings complex order types that aren’t currently available on other decentralized exchanges, such as limit orders, stop losses, margin trading, etc. We believe that more decentralized exchanges will develop similar features, but looking at the current market and development, no doubt NEX is a leader in this area. Secondly, NEX can handle enormous trade volumes through its unique publicly verifiable off-chain matching engine. Scaling is a big issue across the cryptocurrency market, and NEX introduces a new way how to thrive. We haven’t seen the matching engine at work and we (team of BlockAlive) expect some problems. With every piece of new technology, there are some issues, but the NEX team seem to be able enough to solve potential problems. Thirdly, the NEX payment service enables third-party smart contracts on NEO to send and receive global assets such as NEO and GAS as part of their computation. In a word: Imagine PayPal. You can pay for any good or service online via PayPal (if a merchant incorporates the PayPay payment method), right? NEX will provide such a service as PayPal today, but decentralized. Neon Exchange (NEX) is a decentralized platform on the NEO blockchain. The technology is based on off-chain order matching, on-chain trade commitments and a token exchange layer. The orders get matched off-chain and are then redistributed on-chain to the individual users. You don’t need to send your coins to a trading platform. If you don’t have the private key, you don’t own the coins. The team hasn’t published any introduction video, so all the video content on YouTube is made by crypto-enthusiasts and vloggers. If you prefer watching videos, here is a great summary of Neon Exchange (NEX) ICO in 15 minutes. NEX plans to have the trading of NEO tokens operational in mid-2018. The first step is obviously to set up an environment for trading. Beyond enabling a decentralized exchange, NEX’s vision includes the creation of decentralized banking through a smart contract-based funds management service. NEX won’t be just a platform for trading, but moreover, it will provide a place for general secure asset management. Q4 2017: Smart contract examples for payment service and decentralized exchange, demo of profit distribution mechanism on TestNet. Q1 2018: NEX token sale and release of open source platform for token sales on NEO Q2 2018: Payment service launch on MainNet for NEO and GAS. Also, matching engine launch on TestNet, supported by accompanying CLI. Smart wallet and API for integration with tethered tokens in MainNet. Q3 2018: Trading interface and matching engine launch on MainNet: beginning of NEO, GAS, and NEX trading. Also, support for margin trading on MainNet.
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2019+: Decentralized banking: smart contract asset management across chains It appears to be a strong team with a good mixture of experience and abilities.
All co-founders are from City of Zeon (https://cityofzion.io/) which is an independent group of developers, designers and translators formed to support the NEO BlockChain core and ecosystem. The City of Zeon team has talented individuals and has a proven record of execution and existing working relationships with NEO core team. Co-founders and developers: Developers, designers and marketers: The NEX ICO has two advisors, Da Hongfei and Erik Zhang, both of them are members of NEO Council. There hasn’t been much information about partnerships. But recently NEX announced a partnership with Red Pulse at the beginning of February. Red Pulse is an event-driven research firm in Hong Kong covering market events impacting Chinese companies, sectors and the overall economy. Red Pulse (RPX) will be the first NEP-5 based decentralized application token using the NEX platform. The whitepaper (available for download in PDF) is 12 pages long with two reference pages. It explains the current status of the cryptocurrency market and why it is needed to build a decentralized exchange. You will also find an answer to why they choose NEO instead of Ethereum (ETH) as the basic building block. This is a very non-technical piece, easy to read and understand. The main part of the whitepaper is about the Neon Exchange and explains three major parts of the system: We can read about the NEX initial fee structure for trading. There is a 0% maker fee and 0.13% – 0.25% taker fee. NEX exposes a public JSON API that third-party applications can use to trade tokens. This part and the following part of the payment service is quite technical. Some parts are technical and not so easy to understand, but since the project is about cutting-edge tech, it has to be a bit technical. The Neo blockchain can handle many times more transactions than Ethereum. The‘Neo Eco-system’ will launch in the course of the year. Similar cryptocurrencies (though not decentralized) such as Binance Coin or KuCoin Shares have succeeded and each one has a market cap of around a billion dollars. Decentralized exchange tokens have thus far enjoyed a generous valuation (e.g., 0x project at $534 million and Kyber network at $266 million). The Neon Exchange can reach beyond that. This ICO is interesting for investors because they can make money in more than one way. What does it mean? The NEX token will entitle its holders to a share of the fees generated by the NEX exchange. Based on the information from the NEX whitepaper, staking tokens in a NEX wallet for a longer period will result in more fees for the user to claim. It is similar to the GAS claim calculation on the NEO network. We can expect that with more users using the Neon Exchange, more fees will be generated. There are more ICOs (upcoming and ended as well) building a decentralized exchange, and one of the promising is Switcheo. Switcheo Exchange lets you trade any NEP-5 token with NEO and GAS immediately. Read more about it on Medium blog by Gamma Ra. You can also have a look at a decentralized exchange like the Kyber network, Loopring or 0x project and compare their strengths and weaknesses. There will be 50 million tokens created in total, and half of them will be available in the public sale. There will be a public sale where investors have equal buying opportunities. There is no pre-sale of tokens. The NEX token sale will occur in April and will require contributions through the NEX extension or the token sale feature in the NEON wallet. March 12: NEX opens registration for the token sale lotteries. The NEX token sale begins in April 2018. All users who want to contribute to the NEX token sale are required to go through a KYC process. KYC is an identity verification process that allows compliance with government and banking regulations. There will be two rounds of token sale lotteries (on 12th March and 8th April). If you want to participate in the NEX token sale, go to the official website and register for a lottery. It will be possible to participate in the ICO through the NEON wallet. If you don’t own any NEO cryptocurrency, you can buy it on Binance exchange. This ICO is attracting a lot of buzz. It is one of the upcoming ICOs that it is worth keeping an eye on. The roadmap seems good. With the backing of the NEO Council, the Neon Exchange has a very promising chance to succeed. Disclaimer: The information provided here is for informational purposes only and should not be seen as investing advice. We are not a financial advisor. This is just our opinion. Always do your own research before investing. Investing in ICOs is extremely risky. More than 2000 readers already joined.Subscribe to our free newsletter and follow us! Now check your email to confirm your subscription. NEX Token type: NEO BLOCKCHAIN ICO Token Price: 1 NEX = 1.00 USD Fundraising Goal: 25,000,000 USD Sold on pre-sale: NO PRESALE Total Tokens: 50,000,000 Available for Token Sale: 50% Neon Exchange, or NEX, is a decentralized exchange that is designed to combine the security of decentralized exchanges with the performance of centralized ones. As cryptocurrency has exploded in popularity so have decentralized exchanges because they cut out the intermediaries that put your money at risk. Unfortunately, the smart contracts that are used for decentralized exchanges are often too slow to perform high volume exchanges smoothly. As a result, NEX is proposing a decentralized exchange that is paired with an off-chain matching engine. The matching engine will be tasked with handling order matching, which is the most expensive aspect of running an exchange. The NEX roadmap begins in late 2017 with examples of the smart contracts being demoed. They plan to conduct the token sale and an open source platform launch within the first quarter of 2018, and a payment service launch in the second quarter. By the end of 2018 they expect to have a cross-chain launch and margin trading. There has yet to be a timeframe given for when the decentralized banking will occur. As stated, the plan for Neon Exchange to give it an advantage over other decentralized exchanges is to use an off-chain matching engine. The matching engine will handle the order book along with order matching, and it uses deterministic algorithm to perform it. Additionally, it utilizes independent supervisor services that monitor the order matching in order to pick up on any suspicious behavior. The trades from the off-chain matching are bundled together and then moved to an on-chain smart contract. The actual token exchange uses UTXO which requires that all global assets be converted into NEP-5 standard so they can be processed quickly. The ICO does not go into much detail through its site regarding the benefits that its platform can provide, but they do highlight some of their anticipated strengths. One such strength is the ability of the exchange to handle high volumes of trade because of its use of a verifiable off-chain matching engine. Its unique payment service also makes it possible for third-party smart contracts to send and receive global assets within their computation. The level of complexity within trades that can be handled by NEX are often not available through other decentralized exchanges, using market and limit orders as examples. The public token sale for Neon Exchange is scheduled to being on April 1st, 2018 with an end date to be announced later. At this time there is no presale scheduled to occur. There are no geographic limitations to participating within the sale. In total, 50,000,000 tokens will be created and half of them will be made available as part of the sale. The tokens will be referred to as NEX and will be on the NEO Blockchain. $25 million is the fundraising goal for the token sale, and 1 NEX is equivalent to $1.00. The sale will accept NEO and GAS. The whitelist registration for the sale is set to occur between March 10th a d March 31st. No minimum or maximum contributions have been set. The allocation of tokens is explained through a graph on the website, though there is no information provided regarding the intended use of the money raised during the token sale. There are five co-founders of Neon Exchange, each of which also holds a developer position within the company. Fabio C. Canesin is a co-founder who also co-founded City of Zion and worked as a research engineer with Schlumberger. Fabian Wahle also founded Altoida AG and holds a PhD. Ethan Fast also holds a PhD – from Stanford – and was one of the co-founders of City of Zion. The fourth co-founder, Luciano Engel, also helped to co-found City of Zion and has worked as a mechanical engineer after being educated at The Federal University of Santa Catarina. In total the team consists of twelve people – mostly designers and developers – and links to their LinkedIn pages are provided. The move to decentralized exchanges has made this sort of trading more possible but the performance of those exchanges has often been less than ideal. The idea of combining a decentralized exchange with an off-chain matching engine certainly has some appeal and may be the next step in making cryptocurrency exchanging more accessible and palatable. There are some concerns we have regarding Neon Exchange however. Additionally, there is not much information provided through the platform website regarding the functionality of the platform or the upcoming token sale.
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Most concerning is the lack of information about how they plan to utilize the funds they are raising.
There is also a lot of competition within this area, but it also seems to have generated a lot of interest which is promising for its future. Share this story, Choose Your Platform! Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development. Your request has been sent. We will contact you asap. Women are Increasingly Getting Involved in Crypto Investments: Reports Indicate