Stellar launched the decentralized stock exchange StellarX

Another news about DEX – Stellar (XLM) launched the decentralized stock exchange StellarX. The debut took place on September 28, and for several days the playground has been working quite successfully. It offers transactions without commissions, converting Fiat on the fly and all kinds of tokens, according to the team.

StellarX is launched-free trades, fiat onramp, all kinds of tokens! Still lots to do. But here's where we are going. https://t.co/BnHGwxD8E0

StellarX (@stellarxhq) September 28, 2018

The most noticeable competitive advantage is absolutely free trading and use of the site: there is no commission for transactions and there is no fee in tokens for the use of the block. Unlike IDEX and EtherDelta, this site uses Stellar technology at no additional cost.

Verification on Stellar goes through delegates selected on the basis of reputation. User transactions require the Lumens asset, but the operation mechanism of StellarX is somewhat different.

Do not confuse the new project with StellarDEX – a small decentralized exchange, where sometimes a day is traded up to $ 1 million. The team explained the differences like this:

"StellarX will later introduce bonds, shares, real estate, goods and other goods together with the necessary currencies. This will take time and relevant protocols. "

Instant conversion of the dollar on the exchange passes through the USDX asset. The platform will also create opportunities for additional tokenization of stebblecoins tied to other currencies. Co-founder Stellar Christian Radder issued an entire ode to an open area:

"We present tokens for euros, yuans, Philippine pesos and British pound. Then we'll build services for deposit and withdrawal of funds in the relevant currency. In the following months, we will introduce a full portfolio of forex-stebblecoins. We will become a "local" exchange for all countries where such services are not available now. "

According to the team, a decentralized exchange will allow many operators to create trading pairs and markets. StellarX, therefore, will be a collection of various exchanges, where the KYC procedure will be built into the protocol itself.

The price of the XLM crypto currency, however, remained stable after such news. The asset is trading around $ 0.26, continuing to move in the $ 0.24 – $ 0.26 price range.