Stellar to get their first full-featured trading app, know all about StellarX
Stellar is to get their first full-featured trading app, StellarX for its universal marketplace. The trading app is a user-friendly way to trade all types of assets, be it fiat, crypto or bonds.
In the Medium post, they mentioned that StellarX is special because it allows people to live the inter-chain dream of “swapping your Philippine Pesos for Litecoin for municipal bonds for lumens”, and all such trades settle in just seconds. They further add that one can trade from their own wallet, deposit and redeem off-chain assets, like BTC or EUR can be easily done. They will also help to manage the secret keys.
However, they mention that they’ll never have to access them or your assets. Because they’re built on the open Stellar order book. So, no exchange, miners or middleman of any kind will ever take a cut of your transactions.
Free trading on StellarX
Interestingly, trading on StellarX is completely free. The reason being the Stellar network fees are so low that it can refunded by them out-of-pocket. The post by the co-creator of StellarX mentions, “In fact, we pay top market-makers to ensure the closest spreads for everyone. And we also give Stellar’s automatic 1% APR inflation back to our users, keeping none of the weekly airdrops for ourselves.”
So, if someone holds funds on StellarX, the person will get their pro rata lumens every Tuesday. The co-creator of StellarX also mentions the reason why they’re building on Stellar, calling it “a fantastic settlement backend that has, until today, had a very basic frontend.”
The post also mentioned that StellarX is the first complete client for Stellar and that’s why they will support every last token issued to the network. The trading app is designed to reveal every asset, every order book, every trade.
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