Trading platforms are regarded as valuable commodities in cryptocurrency sphere as well as digital assets. StellarX, a platform applying Stellar technology, is planned to be launched in the near future. A variety of other assets will also be supported, which will definitely attract much attention.
The StellarX Concept
Decentralized exchanges often face a major issue that they only support crytpocurencies and digital assets. Unlike these exchanges, StellarX will also support cryptocurrencies, fiat currencies, bonds, stocks, and much more. Especially, the platform will not maintain the control over users’ private keys, providing consumers with complete financial freedom at all times.
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Under the Hood
Though it has not been public yet, StellarX platform can be accessed via an invite system. Users will be allowed to trade directly from their wallets, without being forced to use a proprietary deposit or withdrawal system. In addition, off-chain assets can be deposited without problems, which will change the way people think about trading digital assets.
As stated in its name, StellarX is built on the open Stellar technology and order book. Since there is no need to rely on any intermediaries or miners, users will not have to share any cut of their transactions with anyone. All transactions will be conducted in peer-to-peer fashion at all times to offer optimal liquidity and support. Notably, the platform will offer zero fee-trading, as all Stellar network fees will be refunded by the StellarX team.
Airdrops of Stellar Lumens have also significantly contributed to the development of Stellar itself. There is a 1% APR inflation, which occurs automatically. Another feature that makes Stellar unique is that anyone who uses StellarX to trade any of the supported assets can also benefit from these regular airdrops. Users would also be wise to take leverage of any arbitrage opportunities offered by the platform, which could generate quite a lot of initial attention for this project.
The Road Ahead
Though it is likely that the basic infrastructure for StellarX is already complete, the platform will not go live until one or two months from now. The support of so many different assets, both online and offline, are rather significant. Any lingering concerns related to the exchange of fiat currency, stocks, and bonds through blockchain technology will be resolved by this new platform.