STeX, or Smart Token Exchange, unites all coins in one platform. Find out how it works today in our review.
What is STeX Exchange?
STeX, found online at STeX.exchange, is a “Smart Token Exchange” that aims to be the “first aggregator of crypto liquidity.” The platform will allow you to trade over 10,000 coin pairs in a single place. STeX was first announced back in August 2017. The ICO, meanwhile, took place in November and December 2017.
The overall goal of STeX is to allow cryptocurrency investors to trade coins directly with another instead of being forced to constantly trade into BTC, ETH, NEO, and other large market cap coins.
What Problems Does STeX Seek to Solve?
Why do we need STeX? The platform mentions a number of serious problems with today’s cryptocurrency industry, including all of the following:
- Trading between coins is still difficult; you can trade BTC, ETH, and other coins quite easily, but trading lesser-known coins can be difficult
- Overall, the majority of tokens suffer from a lack of liquidity, leading to enormous problems for active traders and investors
- Large investors and institutional investors struggle to enter the broader cryptocurrency market because of a lack of liquidity
With these problems in mind, STeX aims to deploy its private algorithms and technical solutions to solve the problem.
How Does STeX Work?
STeX’s Exchange comes with the following core functions:
Solves the Liquidity Problem:
STeX solves the liquidity problem using unique high frequency trading algorithms. STeX claims its algorithms were initially designed to work on traditional stock exchanges. Using these algorithms, STeX can complete high numbers of trades “in a blink of an eye.”
STeX aims to solve the liquidity problem by aggregating efforts from multiple exchanges into one single place. That means larger orders will be executed on STeX at better prices. STeX, after all, will automatically collect the best offers from various exchanges.
Liquidity Pool Creation:
STeX held an ICO in late 2017. That ICO was launched in order to create a liquidity pool. Using this liquidity pool, STeX will make a significant amount of cryptocurrency available for trading on the STeX exchange from the first day of operations.
STeX will offer direct access through fast API protocols, allowing anyone who wants to become a market maker on STeX to trade without any commissions.
Built-in Cross Rate Support:
STeX is built on the idea of “cross rate” trading. If any two coins are listed on STeX, you can trade one against the other directly. STeX has a special A2A decentralized technology that can support hundreds of thousands of cross trades simultaneously.
STeX’s cloud cluster is physically hosted in many different countries to reduce the possibility of getting shut down by any entity.
All STeX systems are encrypted and cannot be accessed without proper authorization from STeX authorities. The project’s main funds – including user funds – are stored in cold wallets and cannot be accessed from the internet.
STeX has a “superfast cloud processing core” that allows internal trades to be completed as quickly as possible.
STeX’s A2A decentralized technology allows the platform to support hundreds of thousands of cross rate trades simultaneously.
Features and Benefits of STeX Exchange
STeX advertises all of the following features and benefits:
- High liquidity cross rates
- Multiple advanced order types, including stop loss orders and conditional orders based on technical indicators
- Leverage trading
- Investor and manager functions
- Options and futures
- Receive 100% dividends from the platform, paid monthly in ETH
- Access the best rates possible, aggregating from all major exchanges
- Access 10,000 cross rates between the top 100 coins of Q1 2018
- Access to advanced order types and intuitive trade automation tools
- High speed
- Trustless trading
- Horizonal trading
The STeX Exchange Token Sale
STeX’s token sale took place in November/December 2017.
There’s a fixed supply of 100 million STE tokens. No tokens will be added to the total supply in the future. Tokens were sold at a rate of 1 ETH = 500 STE during the token sale. The founders received a 30% stake of the total supply of tokens prior to the token sale.
As an STE token holder, you’re entitled to receive profits from the platform proportional to the number of tokens you own. If you own 12% of the total supply of tokens, for example, then you’ll receive 12% of profits collected from the exchange.
Who’s Behind STeX Exchange?
STeX is led by CEO and CTO Nick Price, a Russian entrepreneur who also serves as CTO and founder of KeyCAPTCHA.com (he has held that position from May 2010 to present). Other listed members of the team include Maxim Vladykin (CPO and Project Manager), Ivan Mityaev (CFO / Compliance and Legal Department), and Josh Clow (Marketing Officer).
STeX Exchange Conclusion
STeX aims to be the first cryptocurrency exchange with automated liquidity aggregation powered by “A2A” technology. It allows investors to exchange “any” listed coin to “any” other listed coin in one trade directly.
Typically, when trading obscure cryptocurrencies, you need to trade into a more popular cryptocurrency – like BTC, ETH, or NEO – before trading it to another obscure cryptocurrency. You can’t trade directly between obscure cryptocurrencies. That’s a problem STeX seeks to solve.
To learn more about STeX and its ongoing development, visit online today at STeX.exchange.