The much-anticipated front-end development of the Stellar network’s underlying trading protocol (SDEX), hinted at in the Stellar Development Foundation’s January roadmap, has been announced as StellarX – the first fully-featured trading app for Stellar’s universal marketplace and back-end technology.
“Hello! I’m very happy to announce StellarX–a new trading platform built on the Stellar universal marketplace. We’re free–we’re refunding network fees and using lumenaut.net to get every user his/her inflation–and, of course, being on Stellar we’re super fast.”
You trade on-chain. We refund all network fees. Swap crypto, fiat, commodities, whatever. Get an invite here: https://t.co/CVSogvKJGE
— StellarX (@stellarxhq) July 5, 2018
Posting on r/Stellar, the StellarX developers revealed their project and reasons for choosing to develop on the network.
“We’ll list every token on Stellar (provided the issuers do stuff like complete their toml) so that means you’ll be trading crypto, fiat, commodities, whatever, once we launch.”
Features such as completely fee-free trading and the listing and trading of all asset types will be possible, whilst also taking advantage of the protocol’s super-fast settlement times. Users will be able to trade from their own wallet, and even collect the 1% weekly inflation from the Lumenaut’s inflation pool. Because the Stellar network’s fees are so small, StellarX can offer completely free trading – essentially absorbing the minimal transactional costs.
The third-party team behind the new complete trading app have previously developed industry blockbuster projects such as Headspace, Kickstarter and OkCupid, and worked with the Stellar Development Foundation to ‘ensure StellarX delivers the optimal Stellar Experience’.
As if that wasn’t enough, these industry developer veterans went on to sing Stellar’s technological praises in this medium post, waxing lyrical about their ‘fantastic settlement backend’, saying that they ‘…believe Stellar is actually underappreciated’. This news will come as a mixture of relief and excitement for proponents of Stellar and XLM, finally getting to hear about the ‘…world-class front-end that our underlying technology has long deserved.’ hinted at 6 months ago. Whatever the wider market reaction, this development promises to deliver a potentially world-beating decentralised cryptocurrency exchange on the Stellar network.
StellarX will be live this summer, with early beta signups available for keen cryptocurrency users.
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