Stellarx Becomes World’s First Zero-Fee Decentralized Exchange With Fiat Deposits
StellarX becomes the first full-featured trading application for Stellar’s widespread marketplace. It was made by a team with profound easy to use building knowledge and features a wide selection of assets: crypto, fiat tethers, commodities, bonds, and more.
As per the declaration, StellarX, which is a result of the new company formed by Chain and Lightyear, Interstellar, offers comparable client control to its Ethereum blockchain partners, including IDEX and EtherDelta.
To add to its canal over different exchanges, StellarX comes free. The Stellar network charges a flat per-transaction fee as an anti-spam measure, yet the fee is so low (0.00001 XLM) that they refund it out-of-pocket for each trade made on StellarX. Network fee refunds are packaged into a single payment and issued every week. StellarX pays all network fees because of its one of a kind consensus mechanism that does not require “work” or “stake.”‘
The exchange is totally transparent as everything important that occurs on StellarX is on-chain, thus the world can see it. The declaration gives a knowledge into the transparency parameters as it expressed:
“Everything meaningful that happens on StellarX is on-chain, and so yeah the world can see it. But here I mean “transparent” in a larger sense, both for users and, crucially, for token issuers. Because both must be informed for a market to flourish.
• Transparency for traders: Our tokens behave in an expected manner. There are no smart contracts to unravel ownership or to catastrophically fail. Tokenization is handled at the protocol layer from simple templates. Important features are set as flags, not in custom code.
• Transparency for issuers: if you so choose, you can see who your customers are and confirm their identity before they interact with your token.”
Christian R, co-creator of StellarX, also stated in its official Medium post:
“Stellar’s universal marketplace is greenfield for experienced, adventurous traders — the order books are raw and underexplored. Since StellarX is the first complete client for Stellar, we support every last token issued to the network, all 2500+ of them, including dankness like eQuid (GBP tether or digital cephalopod, who can say?) and something calling itself “Charna token”. Roughly 50 new tokens come online each week — crypto, commodities, fiat tethers, securities, and so on,”
