As a report has it, Stellar Lumens (XLM), an open-source blockchain platform, will soon welcome decentralized finance (DeFi) on its network.
This was shared a few days ago by Stellar XLM Türkiye, a Turkish Twitter fans account that reports happenings in the Stellar ecosystem.
The report came in response to Stellar Open Protocol Discussion that was held live on 17th June 2021. The discussion also called for the participation of the co-founder of Stellar Development Foundation, Jed McCaleb, who is also a co-founder of Ripple, the cross-border payment firm.
According to the report, features such as Automated Market Maker and liquidity delivery for Stellar decentralized exchange (SDEX) will soon go live.
Stellar XLM Türkiye tweeted, “DeFi is coming to Stellar! Automated market maker and liquidity delivery features for the decentralized exchange SDEX on Stellar will launch very soon. Thus, we will be able to earn profits by using the coins we have to provide liquidity.”
DeFi #Stellar’a geliyor!
Stellar üzerindeki merkeziyetsiz borsa SDEX için otomatik market yapıcı ve likidite sağlama özellikleri çok yakında başlayacak.
Böylece elimizdeki coinleri likidite sağlamada kullanarak kazanç elde edebileceğiz ✅ https://t.co/s3oWZa3uv0
— Stellar XLM Türkiye (@StellarXLMTR) June 17, 2021
About Stellar Decentralized Exchange (SDEX)
According to Stellar roadmap, Stellar Decentralized Exchange (SDEX) is the decentralized on-chain trading platform built on top of the Stellar blockchain. SDEX is designed to be the first choice Exchange for Stellar tokens.
Stellar Lumens (XLM) and Other Cryptocurrencies in the Market
Currently, all the top 20 cryptocurrencies led by Bitcoin (BTC), have been experiencing a notable price downtrend over the past 24 hours. Bitcoin has dropped to $32,000 price region, while the second-largest crypto, Ethereum (ETH), now trades below the $2,000 support level.
Likewise, Stellar Lumens (XLM) which currently occupies 19th position, according to CoinMarketCap, is also tending to the negative trend. At the time of filing this report, XLM is trading at $0.2624, with a relatively 6% price downtrend in the last 24 hours.