NEX is a platform for complex decentralized cryptographic trade and payment service creation.
Neon Exchange (NEX) aims to combine the performance of centralized exchanges with the trust and security properties of decentralized exchanges. The system consists of three main components: an off-chain trade matching engine, a smart contract where trades are executed, and a payment service where global assets such as NEO and GAS can be converted to tokens that can be transfered directly by smart contracts, making them compatible with the exchange.
NEX combines the NEO blockchain with an off-chain matching engine to enable complex trades. 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. NEX handles complex order types that aren’t currently available on other decentralized exchanges such as market and limit orders.
Recently, decentralized exchanges have emerged to allow users to trade without giving up control of their funds. Under these systems, trades are executed by smart contracts on a blockchain, removing the need for a centralized third-party to control user accounts. While these exchanges succeed at their primary goal of decreasing third-party risk, their success comes at the cost of a huge loss of trading performance. Smart contracts are far too slow to execute the complex matching logic of order books on high-volume, centralized exchanges. In practice, this means that users cannot execute complex trades, and presents opportunities for arbitrage on stale orders.
Decentralized exchanges also tend to have problems trading cryptocurrencies across chains or against national currencies. This is because smart contracts operating on one chain have no means of reasoning about transactions on another. While mechanisms such as atomic swaps have been proposed to allow a DEX to trade assets between independent chains (for example, trading Bitcoin for Ethereum), none of these mechanisms have achieved widespread use. Today, users who want to trade currencies across chains or against national currencies must use centralized exchanges.
Exchange is a key component and enabler of a broader ecosystem of decentralized applications. By creating the first high performance API for decentralized cross-chain exchange, NEX enables many new possibilities for and interactions with such applications. For example, if a website takes payment in GAS and a user holds only ETH in their wallet, NEX will allow the user to convert some portion of their holdings and send it to the website, directly from their existing address. Further, this interaction can occur seamlessly in a user’s browser. The user simply clicks a button on the website: this opens a pre-populated transaction window that will make the necessary conversion then send the transaction. To support such an ecosystem, we have developed a cross-chain browser extension that allows websites to communicate with user accounts and the NEX matching engine.;
Neon Exchange (NEX) is a new decentralized exchange that embodies these ideas. This white paper presents our vision for the NEX platform, the performance benefits of our technical approach, and how NEX will shape the broader cryptocurrency ecosystem. We also discuss our roadmap over the coming months and plans for a public token sale.
NEX handles enormous trade volume through its unique publicly verifiable off-chain matching engine.
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.
NEX handles complex order types that aren’t currently available on other decentralized exchanges such as market and limit orders.
NEX wallet extension
The NEX wallet extension underpins the NEX ecosystem, allowing quick and seamless coordination between NEX, dApps and websites. Install NEX Extension
NEX allows for performant trades between tokens based on the NEO and Ethereum networks.
|Round||Token Price||Bonus||Min / Max Purchase||Soft Cap||Hard Cap|
Round 2 (Public sale) —
10 Sep 18:00 UTC
14 Sep 18:00 UTC
|1. USD||No||1 NEO - 9000 USD||Uncapped||Uncapped|
Round 1 (Public sale) —
03 Sep 18:00 UTC
07 Sep 18:00 UTC
|1. USD||No||1 NEO - 1000 USD||Uncapped||Uncapped|
Pre-Allocation Period —
29 Aug 00:00 UTC
02 Sep 00:00 UTC
In the first round, we will conduct lotteries among all registered users to select participants for the token sale. The first lottery draw, will select up to 25,000 participants to contribute up to $1,000 each. A second lottery draw 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 KYC closes for winners of the second lottery draw
A manual review of accounts we deem necessary. We will not accept email requests for manual reviews
Second round of KYC begins for lottery winners who passed KYC round 1 and opted to participate in the second portion of the ICO.
The NEX token sale begins