StellarX, a completely decentralized trading platform with a zero-fee structure, is finally out in the market. Built on the Stellar (XLM) blockchain, the StellarX trading app offers a range of trading options for Stellar’s universal marketplace. The trading options include commodities, bonds, crypto, fiat tethers, and others.
StellarX Different Over Other Decentralized Trading Options
As per the official announcement by StellarX co-creator “Christian,” the platform differs from its decentralized peers in terms of its network costs. Users of IDEX and EtherDelta have to pay for ‘gas’ which is gradually turning out to be expensive.
Using StellarX costs you absolutely nothing. Above all, users of the platform get the refund for all network costs, a feature which no other exchange provides. In his blog post, Christian writes, “We aren’t here for a cut. We’re here to redefine how assets move around the world.”
Some Special Features of the StellarX Blockchain
Basically, what separates StellarX from the rest is the unique consensus mechanism of the Stellar blockchain. Stellar neither employs “work” nor “stake” consensus protocol. It means that it doesn’t put your capital at work which allows them to refund all the network fees back to its users.
Additionally, another unique feature of the platform is that it provides instant trade settlements across different trading options. StellarX allows users to trade directly using their wallets and also to deposit and redeem off-chain assets like EUR or BTC.
The platform also helps users manage their private keys, but without any access to them. Another one of its most unique features is its real fiat on-ramp. Hence, users can do transactions directly from their U.S. Banks which are linked to the StellarX application. In the future, the trading platform also plans to support Pesos, Yuan, Euros, Hong Kong Dollars, and other fiats.
Moreover, the Stellar blockchain has also employed a flexible functionality catering to the growing complexity of the regulatory environment. If required, its users can also opt for KYC requirements before traders can access their tokens for trading.
Also in his blog post, Christian notes, “We allow issuers — if they so require — to impose KYC requirements before a person can trade their token. And we give holders human-readable information about what they own, so they can make decisions for themselves.”
Additional Features of StellarX for The Future Expansion
The trading platform aims to provide a range of additional features in the future. This includes multi-signature support, night mode, a rewards program, and much more.
RISK DISCLOSURE
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
