The problem with the stellar decentralized exchange

deylandra

Let's say that I sell ounces of gold on SDEX. But it could be anything, bitcoin, oil, corn, fish, strawberries, etc.

I have 100 ounces of gold to sell and the current price of gold is $1300 an ounce.

And the lumen is currently worth 10 cents.

I put a sell offer on the Stellar decentralized exchange offering to sell all of my gold ounces at a price of 13,000 lumens per ounce. After all, the lumen is worth 10 cents.

I go to the movies to see Avengers Endgame. The price of the lumen crashes by 50%.

People see that I'm selling gold at 13000 lumens per ounce of gold. Everyone buys my gold.

I check my phone after the movie and see that I've lost $65,000.

bitcoingold1234

Sounds good, but don't think that it will work

elcuim

Maybe you need put a offer for sell gold in USD, an then, change for other asset?

Toto

The problem with this is that you shouldn't use XLM as a currency or store-of-value. XLM should in theory only be used to fuel transactions.

You'll list your gold for N stablecoins on the SDEX.

deylandra

I would much rather sell for lumens and peg the lumen price to its value on the major exchanges.

that would be a great feature if it could somehow be added to the next version of stellar.

otherwise so many people will have to convert twice to get to lumens which means extra fees and work.

elcuim

What is it? I'm new in the community