Multi-Asset Class Trading on StellarX to Launch This Summer ๐จ This article is 6 years old...
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Multi-Asset Class Trading on StellarX to Launch This Summer
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Updated: Apr. 6, 2020 at 1:19 am UTC
Photo by Christian Nielsen on Unsplash
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 โ a “universal marketplace” for free peer-to-peer trading.
Announcing StellarX! A user-friendly and totally free place to trade on @StellarOrg's universal marketplace. https://t.co/tPNYGY2qe0
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 technologyโ 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 Stellarโs 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 Stellarโs 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 XLMย 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.
Stellar Market Data
At the time of press 1:19 am UTC on Apr. 6, 2020, Stellar is ranked #7 by market cap and the price is down 5.19% over the past 24 hours. Stellar has a market capitalization of $3.76 billion with a 24-hour trading volume of $36.17 million. Learn more about Stellar ›
Crypto Market Summary
At the time of press 1:19 am UTC on Apr. 6, 2020, the total crypto market is valued at at $261.84 billion with a 24-hour volume of $15.64 billion. Bitcoin dominance is currently at 42.79%. Learn more about the crypto market ›
