Review on Stellarterm by Danh Huỳnh Ngọc Công
StellarTerm for the sake of DEX on Stellar Lumen
StellarTerm is a simple but quite nice exchange that allows the trading of Stellar Lumen and the tokens on this blockchain. The exchange is very convenient to use and accounts are very easy to set up. No deposit or withdrawal fees are required. However, the exchange will not be likely to take off as it is not very advanced
Pros
- - StellarTerm is a decentralized exchange that operates on Stellar Lumen blockchain. By this, StellarTerm's transactions and accounts are secured by the strict verification from the participants of the network. Users will not need to pay for deposits and withdrawals and the transaction fees are what they need to pay
- - The user interface of the exchange is quite user friendly and it looks very peaceful giving me a calm feelings during the trades. Everything is arranged very well and reasonable making it convenient for trading
- - The exchange run very well on web browsers; however, there is also desktop app version on both MacOS and Windows. The downloaded app will run a stably good version with no update. All the versions will not send your data and private keys to anywhere and you are the only one who control them
- - To use the exchange, users just need to log in with their wallet or create a wallet right on the exchange and start to trade. It can be said that this is one of the few exchanges offering this function. Very useful!
- - Buying and selling on the exchange is not complicated once you can figure out how they work. The orderbooks and the charts are very easy to monitor giving a not so bad experience for users
- - This project is very transparent about the their product as the source code is publicized on GitHub for further developments and observation
- - There are some rare tokens that can hardly be found on other exchanges so it is hope for someone holding a big bag of these
Cons
- - The status of the exchange may affect the operation of StellarTerm significantly. Thanks to the nature of Stellar Lumen blockchain, the transaction have always been pushed through very quickly; however, the technologies will soon outdated, and number were born to be gone over. There is no certain evidence that congestion will not happen on the exchange.
- - The website is not professional enough to serve a the experienced traders as there are not many useful tools they can utilize
- - The liquidity of this exchange is very low so bid price and ask price are very different from each other
- - There are a few similar decentralized exchanges that have some competitive advantages to this exchange
- - Users needs some time to understand the orderbook because the terms on it are not very understandable
