Shortly after the VeChain mainnet launched, users were desperately waiting for a method of converting their newly-earned VTHO to VET. The team behind Vexchange quickly put together vtho.exchange in response. Users could send funds to a smart contract which would automatically accept and send back corresponding amounts of the opposite token. Since the service was fully automated, it had many advantages over more centralized exchange options.
The smart contract could be accessed by entering a proxy address manually or by scanning a QR code, making the use of the service incredibly simple from within a mobile app. And since the contract never changed, users could save the proxy address in the mobile wallet’s address book. This way, they could exchange funds without ever having to leave the wallet.
A few months later, they officially launched Vexchange.io. It expanded beyond simple VTHO/VET swaps to include all of the VIP-180 tokens. It also allowed users to stake assets in the liquidity pools, earning trading fees as a reward. Users could connect a Comet or Arkane wallet, making asset management even easier.
Surprisingly, despite all the added features and options, many users still enjoyed using the simplicity of the QR code and saveable address. In light of this, Vexchange decided to update vtho.exchange to support VET/OCE, VET/DBET, VET/PLA, VET/SHA, and VET/TIC trading pairs. Each pair now has its own unique QR code, which links to the proxy address of the smart contract. Traders who like to swap often between these pairs can store the proxy address in their mobile wallet address book for future use.
We wanted to redo vtho.exchange to improve the service and bring it line with our vision for the rest of vexchange. We also saw a lot of traction for the vtho swap service and wanted to provide the same Web3 free UX for other tokens. Certain wallets don’t have inbuilt dapp browsers, users of these wallets may find vtho.exchange preferable to creating a second wallet for trading
Oliver Chalk – Co-Founder of Vexchange and vtho.exchange
Vexchange’s talented development pair of Kenneth Ashley and Oliver Chalk continue to improve their projects following their success in the VeChain developer bounty back in April. They plan to add statistics in their next update to Vexchange, so that users can monitor their trades and staking rewards. With new features such as VIP 191 being updated on the VeChain mainnet, there are many new ways for Vexchange and vtho.exchange to explore as they try to make token trading more convenient and user-friendly.
Vexchange added to the Discover section of the mobile wallet
Vexchange can now be accessed through the Discover section of the official VeChain Mobile Wallet. This provides a second method of quickly trading between assets.
Latest Posts
Humans of Blockchain: Jason Rockwood
Recap: PwC and VeChain speak at British Chamber of Commerce Event in Shanghai
