-
NFL and Crypto’s Growing Entanglement - 7th December 2021
-
Gambling with NFTs and Crypto - 17th June 2021
-
What Exactly is Bitcoin Mining? - 26th April 2021
-
Cryptocurrencies Over The Past Three Years - 12th March 2021
-
Online Crypto Gambling in Canada - 3rd March 2021
-
Some Tips on Crypto - 2nd March 2021
-
Where Does Ripple Fit Into The History of Money? - 2nd March 2021
-
Bitcoin Trading Tips - 4th February 2021
-
The Top Trends In The Fintech Sector In 2021 - 29th December 2020
-
What You Need To Know When Trading Stablecoins - 19th December 2020
Stellar X Launches Peer-to-Peer Asset Trading Platform
StellarX, the first zero-fee decentralised exchange with a fiat on-ramp, went live this week on the Stellar blockchain.
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
The exchange, designed by Interstellar, is not only without trading charges but also guarantees to refund all related network costs.
X Marks the Spot
In its announcement, the StellarX team explains that they are able to offer these unique terms because “Trades and orders are native to Stellar, not a layer that has to be superimposed via relayers and smart contracts.”
They claim that this represents an advantage over Ethereum-based exchanges which charge Gas fees as “Stellar’s consensus mechanism requires neither “work” nor “stake” — that is, it doesn’t use your capital to function. Thus, we don’t need your capital to function either.”
The unique fee structure is backed by the ability for US traders to deposit fiat to the exchange directly from their bank account. This facility is expected to be extended to other countries and fiat currencies in due course.
It is clear from the announcement that the founders believe this is merely one milestone on the roadmap as they envisage including bonds, real estate, commodities and stocks at a later date to create not just an exchange but a “complete marketplace”.
Explaining their goal, co-founder Christian Rudder drew attention to the company’s name as the ‘X’ in StellarX refers not to ‘exchange’ as most expect but more in line with the ‘X’ in algebra expression where it can mean – “Anything. Anyone. Anywhere.”