Neonexchange ICO Review

Neonexchange

DEX on NEO blockchain.

Neonexchange Score



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

REVIEW VIDEO

review video

TOKEN SALES

METRICS

Full breakdown

NeonExchange ICO Review: Token Metrics & Usecase

The NEX tokens will be regulated as registered European securities. The tokens are being issued to fund development and future expansion, with no specific use assigned to them. Its holders, however, will be entitled to a share of the fees generated by the exchange. 

NeonExchange (NEX) token process:

  1. Within a NEX wallet, holders can stake their tokens for periods up to 2 years.
  2. Depending on the staking period, holders will automatically get payouts similar to GAS claim calculations on the NEO network. These payouts originate from a part of the fees collected across each token trading on the exchange.

As the NEX platform grows, more fees will be generated from increasing trade-volume, and thus more payout to token holders, appreciating its value.

Green lights

• Articulately written whitepaper in academic style with numerous citations. Detailed but short in length makes reading easier.

• Valid token usage – Passive income where holding tokens earns a percentage of trading fees. Therefore tokens act like a passive investment dependent on the success of trade activity.

• Off-Chain Matching Engine for high-speed trading and liquidity.

• Payment Service for cross-chain and fiat-based transactions.

• Strong all-star team with demonstrated technical capabilities (cofounders of City of Zion).

red flags

• Complications of achieving success in its off chain matching system could pose issues achieving stated goals.

• Creating a Decentralised exchange is a complex development issue. The project has the token smart contract to show in GitHub, but little else. No MVP.

• Latecomers – Absence of Code and MVP means the project is a latecomer to the market of Decentralized exchanges, with 0x and Kyber Network already launching. This could translate into early-comers taking up most of the user-base.

• Token sale employed questionable practice where participants had to register for a “lottery”, which involves mandatory installation of NEX Chrome extension, i.e. artificially bloating the number of NEX extension downloads from Google store.

• NEX is a security token. Difficult to be listed on other exchanges in the future.

Full overview

Neon Exchange ICO Review: Overview

“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 transferred directly by smart contracts, making them compatible with the exchange.”

The Neon Exchange aims to generate an eco-system of web-based decentralized applications with cross-chain capabilities, in the form of a browser extension. DApps would use this extension to send data and make transactions across public chains such as Ethereum, NEO and Bitcoin. All of this cross-chain functionality will be enabled by the NEX off-chain engine.

NEX approach to solving cross-chain Scalability

“Cross-chain exchange is the process of trading or transferring assets that exist on two different blockchains (for example, trading NEO for ETH).”

This type of exchange is dependent on trust between users and is not scalable when applied in general terms due to the absence of trust in most platforms. 

NEX’s approach aims to solve the inefficiency derived from atomic swaps and the limitations of normal cross-chain relays when it comes to interacting with blockchains without smart contracts in one swoop. With the NEX matching engine being off-chain, it will act as both the coordinator and intermediary necessary for interaction between separate blockchains.

 

Neon Exchange Key Aspects

Off-Chain Matching Engine

This feature allows NEX to benefit from the performance of centralized exchanges while maintaining a decentralized user account model based on the blockchain, leading to enhanced security and additional advanced features typical of decentralized exchanges. Orders are sent from user addresses to the matching engine, where they are quickly processed. Matched orders are then approved off-chain and registered to user accounts on the blockchain.

NEX Web Extension

The NEX web extension will enhance security while granting ease of access by having users store their private keys in it. Similar to metamask, the NEX extension will have two major additional features:

  • Convenient NEO token listings, and transaction capabilities.
  • Easy linking to other dApps for purchasing/interacting directly.

Payment Service

The Payment Service will consist of a pool of NEO, along with a NEO equivalent (XNEO). which can more smoothly interact with smart contracts. This component will enable smoother interaction between smart contracts and consequently reduce friction when sending NEO.

 

Neonexchange
DETAILED ANALYSIS

ICOs Found

ADVISOR SCORE

Medium - High

The NEO Council founders Da Hongfei and Erik Zhan are both in the advisory board.

TEAM SCORE

High

12 Top-Rated Team members, Lead developer created the biggest NEON wallet in use. CEO the originator of the City of Zion concept. Fabian Wahle holds a PHD in machine learning and AI.

HYPE SCORE

High

Almost every influencer agrees that NEX will be one of the most succesfull ICOs of 2018. NEX has the most hype from any project this year.

TOKEN SCORE

Medium

The tokens will be used to give holders dividends of the fees used on the platform. Previous Exchange tokens all did extremely well, and with a token supply of 50,000,000 Million, we would not be surprised to see $100 per NEX.

TEAM

Fabio C. Canesin

Co-founder and Developer

Fabian Wahle

Co-founder and Developer

Ethan Fast

Co-founder and Developer

Luciano Engel

Co-founder and Developer

Thomas Saunders

Co-founder and Developer

CONCLUSION

The NEX ICO signifies a massive step forward in the development of the NEO Smart Economy. The introduction of NEO based trading pairs, improved wallet function, ICO launch platform and decentralized banking all represent a significant milestone in the development of the crypto space as a whole. The project itself is highly anticipated with the support of NEP5 tokens being among the top reasons, and will most likely dominate this part of the token market. However, ETH based trading pairs will not be available until Q4 2018 and BTC is as of yet unannounced. 

8.3

ADVISOR

8.4

TEAM

8.4

HYPE

6

TOKEN

exchange

CATEGORY

All information including our "Grading system" rating, is provided merely for informational purposes. ICO DOG does not provide investment advice (read more).

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