Zilliqa has announced a strategic partnership with crypto platform Switcheo to build the first decentralized exchange (DEX) on the Zilliqa blockchain.

according to items ConventionZilliqa token holders and traders will be able to access their digital assets over the Ethereum network for the first time, fueling the growth of Zilliqa’s DeFi ecosystem.

The DEX will also be designed to improve the user experience and facilitate trading for both new and experienced traders.

This process will be handled by a simplified operating protocol that integrates with an API-based mobile wallet, which will allow users to exchange different currencies without the platform’s registration requirements.

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Additionally, users will be able to contribute to liquidity pools allowing consistent market making while enabling them to earn lower transaction fees, and encouraging participation of token holders via the Zilliqa ecosystem.

Partnership between Zilliqa Project and SwitcheoNetwork:

The partnership with Switcheo is an exciting one for Zilliqa.

Switcheo is one of the major players in the development of DEX platforms across different blockchain networks.

Switcheo earlier built the first decentralized cryptocurrency trading platform on the NEO blockchain.

To expand to Zilliqa, all of which can help the company strengthen its position.

The Zilliqa blockchain supports multi-chain which enables and supports trading across the Ethereum, EOS and NEO chain.

Zilliqa also has a wide user base that includes more than 30,000 traders from all over the world.

At the time of writing, Switcheo supports around 24 cryptocurrencies with more than 40 trading pairs on its platform.

Zilliqa and Switcheo will begin work on developing the platform with rounds of internal testing expected by the end of Q2 2020.

This will lead to testing external use by trading groups in the third quarter of 2020 before the official release of the platform by the end of the year.

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The Zilliqa project (ZIL) is among the top 100 coinmarketcap tokens in terms of total market capitalization.

ZIL coin is ranked 78th with a value of one token at $0.003 in the last 24 hours.

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