NOTE: This article is in no way saying anything bad about STEX. STEX has always been a very reliable exchange, and we have been more than happy with the STEX experience! The issue is specific to our UPX to BTC ratio on the singular satoshi system (8 decimal points). Please read further for a better understanding.
As many of you may have noticed, especially those who use the Delta portfolio app to track uPlexa, uPlexa has been going through some drastic times when it comes to market movements. Our market movements have been consistently jumping between -33% and +50%. After analyzing the movements, we are able to confirm with great certainty that our economy is being cornered and suppressed by a mini-whale (so to speak).
This suppression works due to our current UPX/BTC pairing on STEX. Our current value is shifting between 2–3 satoshis, resulting in a 50% change upwards and a -33% change downwards. This can be seen here:
In order to fight this manipulation and suppression, we encourage that our users use GRAVIEX instead of STEX when trading UPX. This will allow for more trading opportunities and/or getting in/out of uPlexa without a crazy margin of -33% to 50%. Instead, the spread should now be around <1%.
Using Graviex for UPX/BTC allows users to use an extra decimal point for satoshis (9 decimal points rather than the standard 8). This allows for better buying/selling opportunities for UPX/BTC as per the following image:
We have another potential listing on the back burner on a reputable exchange for up to 4 pairs. If we are able to obtain more volume we will obtain this listing which will also enable other trading pairs on another exchange. We will also be listed on BISQ DEX soon if you wish to trade for BTC or fiat.
With that being said, we highly appreciate your support thus far. Please feel free to send us a message on Telegram or Discord if you have any questions or concerns.
EDIT: After talking with STEX, we were able to come to agreement to switch our pairing from UPX/BTC to UPX/ETH, which will allow for even great buying/selling opportunities without such a large spread. After we switch pairs on Wednesday, October 23rd, 2019 — we would highly encourage users to switch back to using STEX again.
Telegram: https://t.me/uplexaOfficial
Discord: https://discord.gg/M3yy2H6
