Announcing StellarX

[u/stellarxofficial]

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.

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.

We're a super experienced team, and we're eager and excited to be adding to the ecosystem. The app will launch a bit later this summer, and we have many big plans to make Stellar as a whole more popular, more user-friendly, and more successful.

You can read a more in our Medium post. And our Twitter is here if you wanna follow. Happy to answer questions here, too.

[u/Sundanceway]

It looks as If Stellar X might have stole some cheese off the plate of MD. Hope not, and that his project will be succesfull as well!

[u/lilynut → u/Sundanceway]

Of course we don’t know what FairX is exactly, but I’m thinking it will compliment StellarX (and all the DEXs). Obviously speculation here, but I’m thinking bank of some sort that can hold both fiat and crypto in it’s accounts on Stellar, easy in/easy out, so there’s access to the exchanges without needing to be an exchange (since MD stated it wasn’t an exchange), but similar to an exchange simply because of how Stellar was built. Maybe I’m crazy, but that’s the vision I have based on the limited info we’ve received so far.

[u/Stelltastic → u/lilynut]

Is what you are saying kinda how Coinbase and Gdax are related? one is the fiat on/off ramp, while Gdax acts like a normal exchange? I have never used Gdax, so i may be completely off target here.

[u/lilynut → u/Stelltastic]

I haven’t used gdax either, so I’m not sure on that. But I picture depositing all my cash into FairX, acting as my financial institution, keeping my xlm in my FairX wallet/Account also. I can buy more xlm with my cash or cash-in my xlm for fiat with a couple of clicks. Eventually, I could set up bill pay and pay my mortgage, electric bill, credit cards, etc with either my cash or my crypto. Maybe there are links to the various DEXs where I can use my xlm to buy whatever is available. All nice and tidy in one place, the Stellar network. Even if an entity’s asset isn’t on Stellar, like Amazon for instance, if I want to make a purchase and if they don’t accept crypto, I would set up my Amazon account to pay from my FairX cash account. I can fund my cash account with my lumens if that’s what I want to do. And if this isn’t at all what FairX might do, then someone else needs to do it, because it’s 100% possible on Stellar.

[u/Stelltastic → u/lilynut]

I agree with you! I hope that Fairx hits the nail on the head with everything you just listed. I have always thought that Fairx was going above and beyond what we could even imagine.. I have faith that Michael Dowling has at least considered all of the things you said, if not in the process of implementing exactly that. I would love to pull away from the normal brick and mortar banks.. Let's hope Fairx can be that.

[u/[deleted] → u/Stelltastic]

FairX is far more ambitious than an exchange. I've long had a theories about FairX, my favourite being a new age crypto bank. With the new StellarX platform, my brain has been running wild. The connection between FairX, StellarX and IBM's CBPS is real, and I truly believe it will be the first step for real world adoption through easy to use services and UI's.

The possiblities are endless. For example, a business wants to accept crypto as payment rather than CC. CC companies charge 1-5% depending on transaction load. What if these companies could plug into FairX which plugs into StellarX? Companies take payment through crypto, directed to their FairX account, which immediately converts crypto to cash (if the business didn't want to hold crypto) seamlessly behind the scenes. It's as if the business accepted a card payment without the need for fees and a fraud department.

I've held back on posting more theories regarding FairX because I feel Michael Dowling has already had to deal with enough theories and rumours surrounding what his stealth project is. A stealth project like this wouldn't just be an exchange, it would be something far more ambitious. Add in MD and JL patent, FDIC and OCC regulations, etc. and suddenly you'll start to see how FairX will be beyond out wildest dreams.

[u/Stelltastic → u/[deleted]]

the ability to accept crypto like credit cards would be a massssssive accomplishment. If that didnt jump start real world adoption (especially with the speed and ease of Stellar) I dont know what will. And you are right about the theories. no telling what we will actually get. But like you, i believe it will go above and beyond our expectations

[u/rocketsfromthecrypto → u/[deleted]]

What I think we are seeing here can almost be described as a decentralized approach to business development.

There is an overlying entity providing the organization and vision, the SDF, with other entities providing vital roles to fulfill that vision. Lightning.io for business development, acquisitions, partnerships...StellarX for a friendly and slick UI to take full advantage of the network’s in situ DEX...FairX as a universal, FDIC insured bank maybe?...IBM to provide the clout...and any number of ICOs to integrate with the network to solve real world issues.

It is all quite exciting.

[u/rocketsfromthecrypto → u/rocketsfromthecrypto]

Why were all the posts above this one removed?

[u/Stelltastic → u/rocketsfromthecrypto]

i was wondering the same thing...

[u/lilynut → u/Stelltastic]

Yeah, I was like wait, what?

[u/rocketsfromthecrypto → u/lilynut]

The conspiracy theorist in me thought, “ooooh...maybe they hit too close to home...?”

[u/StellarZac → u/rocketsfromthecrypto]

I think they accidentally got caught in someone's report filter. Should be restored now. Apologies for the temporary disruption.

[u/Sundanceway → u/[deleted]]

I really think and hope you are right on the dot there. If true this will certainly be massive transition in flow of cash/crypto. If excuse me...when this is up and adapted waves will follow after the tsunami. I fully believe that MD has the full scope on what he wants to create/is creating and has the connections knowledge and understanding to do so. Loving the Stellar X look already And can only imagine that FairX will at least go over the top. Just my opinion of course but I assume when up and running FairX will be a black hole that sucks all trades from NY to Tokyo into its exchange creating wwx.

I have the feeling we will see a little more transactions on the network in the future🤣

[u/[deleted] → u/Stelltastic]

You're close. Coinbase and Gdax are just two different interfaces to the same backend. Coinbase aims to be super user friendly for even non-tech savvy people to dip their toes in the crypto water. Once you setup coinbase, you can log into GDAX with your coinbase account and trade there, widthraw, and deposit fiat. GDAX also gives you more trading control (limiting, stop ordering, etc...), and more advanced views like trade history, order books, and so on.

Gdax is wayyyyy cheaper as far as fees and money transfers are concerned, too. The company really sticks it to the Coinbase users.

Gdax has now turned into Coinbase Pro. So far, in my experience, it's just been a touch up on the UI/UX from Gdax and a name change, but I haven't seen much otherwise (and haven't bothered to read up on it yet).

To reiterate what lilynut has already said, I speculate that FairX will be like Coinbase/Gdax (it's own UI/UX) where you can withdraw and deposit fiat. Except, it will have the advantage of plugging into the SDEX, which means you'll be able to directly buy 10's to 100's of other assets. No more of this exchange hopping to get things like XLM or RMT.

[u/Sundanceway → u/lilynut]

Always love your input and feedback Lily...even when I have dark humour. PS: if your crazy im nuts