I'm working on one of the corner stone projects, a social trading platform using Binance and OKEX API and eventually adding support for Stellar's decentralized exchange.
What does this project enable users to do:
- This allows people to let professional traders and investors to manage their crypto funds in a decentralized way.
Why is this project valuable for Stellar and how does it project utilize Stellar.
- We'll be using Stellar lumens to manage the fees paid to the traders. It'll take advantage of the fast, low cost transactions as well as the smart contract capabilities. A social trading platform was listed as a cornerstone project and we felt it really highlights the strengths of the stellar network as well as bring more liquidity to the market.
Binance and OKEX are two of the largest exchanges by volume and for a social trading platform to be effective, there needs to be a very deep market. In fact to start off I'm restricting trading to only BTC, ETH, XLM and USDT pairs. Low volume currencies pairs can cause missed orders and other issues. Lead traders can set management fees in XLM and act as decentralized investment funds.
Binance and OKEX also have dedicated trading API which doesn't include withdraw permission. This gives added security and trust needed for adoption.
A bit about me:
- I've previously built VisualCV.com a resume app with over 2 million users and one of the top resume apps on mobile
- worked on meta.re and gitlogs.com both using algorithms and data mining to curate news
- currently working on pushtable.com a headless CMS for Google Firebase Firestore
- my previous SBC submission was pay.meta.re, it got honorable mentions
https://galactictalk.org/d/1149-stellar-chrome-extension-similar-to-metamask/4
As a side note, I've been working on this for the past month and I thought I already posted an announcement earlier but it didn't post properly...
Love to hear everyone's feedback.
