ST0x: your gateway to equities onchain.

ST0x creates DLT liquidity infrastructure to facilitate efficient markets for tokenized and digital assets. ST0x is composed of three core pieces of technology:

Tokenisation engine

• Code-governed process ensures consistent adherence to regulatory rules.
• Six distinct user roles and relationships facilitate compliant tokenization activities
• Comprehensive audit trails maintain a complete history of each tokenized asset, fostering trust and accountability.
• Custom ownership rules ensure tokens are held only by eligible individuals or entities

Orderbook

• Empowers users to create custom trading logic and strategies that are interpreted by our smart contracts.
• Users are no longer bound by the limitations imposed by DEX creators on how liquidity should work or the functions they need.
• Eliminate inefficient AMMs and liquidity pools where liquidity providers lose money.
• Replace them with strategies that generate profits, just like in traditional finance.
• Utilize ST0x's strategies or create your own solutions using our custom liquidity language, enabling anyone to easily build blockchain-based trading strategies.

Liquidity Sourcing

• Source liquidity from off-chain counterparties through RFQ orders. Execute trade on-chain while maintaining access to off-chain liquidity.
• Employ flash loans against our order book liquidity for seamless integration wit on-chain liquidity sources.

ST0x empowers partners by packaging its innovative technology. We collaborate with institutions that can benefit from our liquidity-sourcing solutions and highly flexible trading environment. Additionally, we cater to retail investors through B2B2C distributors, providing them with access to trade digital assets and fractional stocks. Our compliance-driven approach allows partners to tailor their exposure and requirements to meet the regulatory demands of different jurisdictions.

By integrating their liquidity, partners contribute to the creation of a truly global blockchain exchange, operating 24/7. This collaborative effort fosters seamless and efficient trading experiences for users worldwide.

We aim to work with Stellar on the activation grant to build the foundations of ST0x bridge which will connect off and onchain liquidity. This will massively increase the stability and efficiency of our onchain markets through connecting to existing liquidity. Our proposed build brings improved oracles with signed data that can be actionable onchain, turning price feeds into more than just data.

We aim to work with stellar and its partners to help bring this technology out of stealth and into a reality. 

Oracles are hugely important for trading onchain. The streaming of high quality data allows multiple protocols to increase their functionality and knowledge of whats going on on and off chain. However, oracles are not interactable. They simply just provide information. 

Underpinning ST0x is a liquidity bridge. A liquidity bridge is more powerful than an oracle in that it has a price an amount which is actionable. ST0x first deliverable is to bring it’s liquidity bridge to Stellar. This turns oracles price feeds into a verified source of liquidity onchain. And also removes the gas costs associated with oracles.

How does it work? The ST0x liquidity bridge creates a signed data coupon. This coupon is built up of price data and trade data that is actionable. The ST0x protocol (and others) can be built around this allowing access to the liquidity behind the price data. Bringing st0x data streams onto Stellar gives us the critical foundational building block for bringing equities to Stellar and to layer on the entire St0x infrastructure over time. 

Milestone 1 - Broker API 

3 weeks - 30k 

Measure completion through github code

• Work with a broker to gain access to their price data and liquidity for the NYSE market 
• Understand and break down how their FIX API works
• Build an API which can pull data from their FIX API when requested for certain assets.
• Design it well so API has no bugs and private keys cannot be stolen (keys used to sign the data)
• Best setup is a multisig, using BLS threshold signatures (Rainlang supports contract signature verifiers)
• Unit test to make sure all is working as intended

Milestone 2 - Coudflare worker 

2 weeks - 10k

Measure completion by showing the code in the github, also the ability to call it with asset Tickers to then receive a signed coupon for that asset

The cloudflare workers role will be provide signed data to be taken to the smart contract and to listen to the blockchain and route trades to the underlying broker. 

• Digest API and organize data into a coupon format
• Hash the coupon to give a signed coupon 
• Using ethers.js library to hash the different data types 
• Unit test 

These milestones will lay the foundation for ST0x, not only providing price data but actionable trade deals opening up off chain liquidity.

Milestone 3 - Demonstration

2 weeks - 10k

Measure of completion live site and UI

This will be a demonstration UI where users can obtain price data and signed coupon of a single asset. 

• Ui for presenting the data 
• Ui element for the code based coupon 
• API connectivity to call the cloudflare worker to obtain the coupon 

Experienced team in Ventures, Crypto, Capital Markets, Technology and Quantitative finance. 14 team members.