StellarX, a new trading platform which aims to be completely free, functional, and transsparent, has launched out of beta.
StellarX, a trading platform built on the Stellar platform, claims that it is completely free- refunding network costs, not charging for transactions, and claiming the platform isn’t ’here for a cut. We’re here to redefine how assets move around the world.’
According to a blog post, StellarX takes advantage of Stellar’s underlying consensus mechanism, which is neither proof-of-work nor proof-of-stake, and thus doesn’t use network users’ capital in order to authenticate transactions.
Furthermore StellarX promises to allow traders to ‘trade anything,’ utilizing a ‘fiat onramp’ which would allow traders to exchange fiat for crypto seamlessly.
StellarX furthermore hopes to ‘one day have bonds, stocks, real estate, commodities,’ one the right protocols for digitizing such assets are acquired.
StellarX’s team also promises transparency and functionally optional KYC compliance protocols.
These are big claims, and even StellarX admits ‘we have a long way to go, but we’re off to a running start.’
StellarX is launched--free trades, fiat onramp, all kinds of tokens! Still lots to do. But here's a look at where we are and where we're going. https://t.co/BnHGwxD8E0— StellarX (@stellarxhq) September 28, 2018
It is important to keep in mind that StellarX is not exactly an exchange, but rather is a client built on the Stellar exchange platform. Nonetheless, if StellarX can develop its promised features while remaining effectively free to use, it could bring the Stellar exchange universe into much broader use.