Multi-Asset Class Trading on StellarX to Launch This Summer
With the evolution of the digital economy, cryptocurrency and traditional derivatives find common ground. Set to launch summer 2018, StellarX brings traders a universal marketplace for peer-to-peer multi-asset exchange.
A New Type of Exchange
Until now, cryptocurrency has almost exclusively traded on exchanges that only offer digital assets. Although platforms such as Uphold and eToro exist in offering several asset classes, there is yet to be a service that utilizes blockchain-based peer-to-peer software for both cryptocurrency and traditional asset class trading.
Announced on June 5, payments-oriented blockchain Stellar Lumens is launching StellarX – a “universal marketplace” for free peer-to-peer trading.
You trade on-chain. We refund all network fees. Swap crypto, fiat, commodities, whatever. Get an invite here: https://t.co/CVSogvKJGE
— StellarX (@stellarxhq) July 5, 2018
In an industry-forward mission, StellarX plans to reveal a trading platform based on their distributed ledger technology– coined the Stellar universal order book, to achieve immediate settlement times and commission-free exchange.
Stated on the StellarX website:
“Transactions settle in seconds, and trading on StellarX costs nothing. We refund your network fees and we even return Stellar’s automatic 1% APR inflation to our users, keeping none of the weekly airdrops for ourselves.”
The platform confirms that cryptocurrency, fiat, bonds, and commodities will be available for trading and ensures security of asset ownership through a wallet that is controlled solely by the user.
“StellarX is built on Stellar’s universal order book. Trades happen directly between traders. No middlemen, no miners. You trade from your own wallet and keep total control of your keys.”
To ensure initial and consistent liquidity, StellarX also mentioned that market maker rewards in the form of 100k XLM will be distributed to top market makers on a weekly basis.
In the midst of emerging security token exchanges, StellarX joins a new consortium of nascent asset marketplaces. StellarX is yet to release a public launch date but plans to release the platform in the summer of 2018.
Cover Photo by Christian Nielsen on Unsplash
Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.