Driving value creation was at the core of Q4-2020 and January 2021. At LCX.com, we strive to empower our community to manage and grow their wealth; ultimately driving value creation for all stakeholders. I am excited to share that our success toward achieving this goal is evident in the past 4 months. We delivered a unique combination of key regulatory milestones, community growth and new product innovations.
TL;DR:
- LCX is now a regulated blockchain platform as we have received 8 blockchain registrations by the Financial Market Authority; more than any other company in Liechtenstein.
- LCX DeFi Terminal, our decentralized trading platform got a major upgrade and is consistently growing.
- LCX successfully facilitated a security token offering of a Hollywood movie.
- LCX launched LCX Exchange, a secure and regulated trading platform for digital assets.
- $LCX token has been listed at 2 additional cryptocurrency exchanges, also growing our South Korean community.
- LCX is hiring. Currently more than 30 open positions.
LCX gained Regulatory Approvals.
LCX is now a fully regulated and compliant Trusted Technology Service Provider. In December 2020, LCX received 8 Blockchain registrations from the Financial Market Authority, more than any other company in Liechtenstein. We started the licensing process two years ago and prepared hundreds of pages for policy documents, restructured our corporate governance and developed our advanced crypto compliance suite. For example these confidential legal documents include LCX’s Anti-Money Laundering and Counter Terrorism Financing Policy, LCX’s Risk Management Policy, LCX’s Information Security Policy, LCX’s Blockchain Operations and Business Continuity Policy, LCX’s Governance Charter and Code of Business Conduct, LCX’s Digital Listing and Trade Integrity Policy, LCX’s Token Issuer Operational Procedure and many more.
Liechtenstein introduced the most advanced legal framework for blockchain companies worldwide. LCX is now regulated with the same supervision standards and compliance KYC, AML and CTF rules like any bank or financial institution.
LCX’s exchange is now officially regulated as TT Exchange Service Provider. Our wallets and crypto custody products are regulated as TT Token Depositary and TT Key Depositary. Our cryptocurrency reference price services (price oracles) are regulated as TT Price Service Provider. Our crypto compliance suite is regulated as TT Identity Service Provider. Our smart contracts development is regulated as Token Generator. Lastly, our Token Sale Manager is regulated as Token Issuer.
This is a major milestone for the crypto industry as a whole. LCX is therefore providing highest standards of investor protection, segregation and insolvency protection for client funds and legal clarity for digital assets.
Following our announcement Coindesk published a story about LCX.
We also published a summary of the Liechtenstein Blockchain Laws also known as Token and Trusted Technology Service Provider Act (TVTG).
Decentralized Exchange Terminal.
Since we launched the LCX DeFi Terminal in October 2020, we saw a growing demand for our second layer protocol enabling limit orders at Uniswap decentralized exchange. Only four weeks later we updated the whole DeFi trading platform in our product update. DeFi Terminal’s limit order protocol has been engineered, down to our unique DeFi protocol, to take full advantage of Uniswap and to make your trading experience even better. The combination of our lightning fast markets page visualizing all trading pairs, our beautiful charting capabilities with TradingView and our famous limit orders functionality. The product update truly takes our platform to a whole new level with incredible performance, security and reliability. Now, LCX DeFi Terminal is the most advanced trading platform for Uniswap.
Security Token Offerings.
LCX Facilitates Launch of Movie Security Token Offering
Tokenization via blockchain technology is democratizing investing and will revolutionize how Hollywood will engage with their audience. We believe that the STO Launchpad is the superior tokenization platform for businesses and are excited to be partnering with LCX.
Token Generator LCX Deployed the RVW Security Token. LCX acted as regulated Token Generator for the RVW security token issued by RVW Limited. The RVW Token is a tokenized security backed by the gross-profits of the Hollywood feature film. LCX hired Certik for the security audit of the custom smart contract and token developed by LCX.
In January 2020 RVW Limited closed the STO due to an early repayment clause. All investors benefited from a full return of investment, a 20% yield plus an extra bonus.
This first STO project was a proof of concept, we tested our technology platform and improved our crypto compliance suite in accordance with LCX’s regulated roles defined by the Liechtenstein blockchain laws. Blockchain projects can now profit from our knowledge and experience for fundraising and compliant token offerings.
Secure and Regulated Cryptocurrency Exchange.
We launched a secure and regulated trading platform for digital assets. In December we invited selective users to our closed Demo and on January 5th we finally launched LCX Exchange. LCX Exchange is the result of our deep experience of building advanced trading systems, seamless integration of our proprietary crypto compliant suite, and know-how on blockchain security to deliver an industry-leading crypto trading experience.
With the launch of LCX Exchange thousands of new users registered at LCX.com. We had been overwhelmed with the positive feedback, but also collected many things on where we can improve the platform. Based on this community feedback we launched the first product update for LCX Exchange just a few weeks later. Now crypto traders can benefit from a new user interface of LCX Wallets and many performance improvements.
Growing the LCX family. We are hiring.
Currently there are more than 30 open positions at LCX. We are looking for local ambassadors and representatives in major jurisdictions like Asia, Europe and North America. Also we are hiring some of the best blockchain developers to develop new DeFi products. And we are expanding our customer success team to keep up with the growth of new user registrations.
All open jobs can be found at our website at LCX.com/careers/.
$LCX Community Growth.
ProBit listed $LCX Token including a KRW trading pair. LCX grew in awareness and traction in the South Korean market. Also HotBit listed $LCX Token at their exchange with 2 trading pairs. Furthemore we conducted two token burns in Q3 2020 and Q4 2020. The Q4 burn was the highest-ever amount burned, bringing the total supply to 950 Million tokens. In total LCX conducted 5 token burns, burning a total of 50 million LCX Token.
Reducing the supply of shares or tokens over time can discourage capitalization just like deflationary currencies discourage consumption. Thus, LCX has also announced an update on the token economics with the goal to increase usage of $LCX and extra benefits for all token holders. Spoiler alert: we are working on several additional functionalities and usage models for $LCX token which will be announced in several steps alongside product updates.
LCX’s utility token, the $LCX Token can be bought at LCX.com directly and traded at a variety of cryptocurrency exchanges.
And finally, we had a good laugh with our Bullish Beat Meme and all the videos created and uploaded to TikTok, Instagram and Youtube. We published the #BullishBeat Song in November 2020, but we could not foresee that we hit the start of on-going and lasting bull-market with ETH at $1.7+ and BTC at $42k+.
Community is Power.
The truth is that a strong community can be more powerful than the Wall Street bankers, sooner or later disrupting all aspects of financial markets.
Kevin O’Leary is right, it’s the fight of the little guy against #WallStreet.
In the past venture capital investors have been betting on founders, now they are betting on communities.
The transformation of financial markets due to blockchain and cryptocurrencies is a positive evolution as it will give individuals and groups everywhere a louder voice, more choice and opportunities, and more efficient ways to invest their money.
I’d like to thank our whole community, our users, our clients, our partners and our whole team who are the key elements of transforming LCX into a great company. We remain focused on creating a blockchain ecosystem bridging the traditional financial work with the innovative crypto industry. With that in mind, LCX.com is well positioned for future success and long-term value creation.
Written by Monty C. M. Metzger – @montymetzger,
CEO and Executive Chairman at LCX.com – @LCX
Disclaimer: This content contains forward-looking statements that involve inherent risks and uncertainties, and we might not be able to achieve the predictions, forecasts, projections and other outcomes we describe or imply in forward-looking statements. A number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates, and intentions we express in these forward-looking statements and in other public filings and press releases. We may not achieve all of the expected benefits of our strategic initiatives and partnerships. Factors beyond our control, including but not limited to the market and economic conditions, changes in laws, rules or regulations and other market challenges, could limit our ability to achieve some or all of the expected benefits of these initiatives. This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.
