Overview

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

Project stage

Only a whitepaper

Detailed description

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.

Problem

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.

Solution

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.

Features

High volume
NEX handles enormous trade volume through its unique publicly verifiable off-chain matching engine.

Payment service
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.

Complex trades
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

Cross-chain trading
NEX allows for performant trades between tokens based on the NEO and Ethereum networks.

Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : NEX
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 25,000,000 USD
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :NEO (SAR)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Security token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :50,000,000 NEX
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :25,000,000 NEX
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :GAS, NEO,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :Algeria, Bolivia, Cote d'Ivoire, Cuba, Ecuador, Indonesia, Iran, Kyrgyzstan, Lebanon, Morocco, Myanmar, Namibia, Nepal, North Korea, Pakistan, Syria, USA, Vietnam,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA
      • Token Distribution

          Vesting notes

          • Founders: Locked in a smart contract with slow release over 2 years

    Sale schedule

    Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
    Round 2 (Public sale) — Ended
    10 Sep 18:00 UTC
    14 Sep 18:00 UTC
    1. USD No 1 NEO - 9000 USD Uncapped Uncapped
    Round 1 (Public sale) — Ended
    03 Sep 18:00 UTC
    07 Sep 18:00 UTC
    1. USD No 1 NEO - 1000 USD Uncapped Uncapped
    Pre-Allocation Period — Ended
    29 Aug 00:00 UTC
    02 Sep 00:00 UTC
    NA No - Uncapped Uncapped
    • Team

      • Fabio C. Canesin photo
        Fabio C. Canesin
        Co-founder and Developer
      • Fabian Wahle photo
        Fabian Wahle
        Co-founder and Developer
      • Ethan Fast photo
        Ethan Fast
        Co-founder and Developer
      • Luciano Engel photo
        Luciano Engel
        Co-founder and Developer
      • Thomas Saunders photo
        Thomas Saunders
        Co-founder and Developer
      • Nathaniel Walpole photo
        Nathaniel Walpole
        Designer
      • Samuel J. Mansfield photo
        Samuel J. Mansfield
        Designer
      • David Schwartz photo
        David Schwartz
        Developer
      • Evgeny Boxer photo
        Evgeny Boxer
        Developer
      • Carla F. de Paiva photo
        Carla F. de Paiva
        Marketing and Public Relations
      • Clare Saunders photo
        Clare Saunders
        Marketing and Communications
    • Advisors

      • Muzzammil Zaveri
        KPCB
      • Da Hongfei
        Onchain CEO, NEO Council
      • Erik Zhang
        Onchain CTO, NEO Council

    Roadmap

    • 12 Mar 2018
      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 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.

    • 30 Mar 2018

      Lottery registration closes

    • 8 Apr 2018
      First round KYC closes for winners of the first lottery draw
      • Any unregistered spots from the first lottery will be filled through a second lottery draw and those winners will be announced
      • All winners will be required to go through our second round KYC process
    • 14 Apr 2018

      First KYC closes for winners of the second lottery draw

    • 14-20 Apr 2018

      A manual review of accounts we deem necessary. We will not accept email requests for manual reviews

    • 21-30 Apr 2018

      Second round of KYC begins for lottery winners who passed KYC round 1 and opted to participate in the second portion of the ICO.

    • June TBA

      The NEX token sale begins

    Activity