Dear LCX community,
We had our monthly AMA on the 10th of October in our official Telegram chat, where our CEO Monty C. M. Metzger (@montymetzger) answered questions from the community on our different topics related to both the platforms, their goals, upcoming launches, and more. We really liked how it went down, here is the summary for our live Ask Me Anything (AMA) session dated 10th October 2021, Moderated by community moderator “King”.
Community Host,
LCX.com community members?
As we are about to start the AMA program, it’s pertinent to pass this piece of information to the community.
During the course of the program, the community would be muted for an easy flow of communication between the host and the CEO.
We crave your indulgence while muting the channel for an easy flow to address your queries and the readability of all. Of course, we’ll definitely open the channel to entertain your questions at the end of the AMA.?✍️
Monty Metzger, CEO,
Thanks @king_LCX
Hello everybody. First I’d like to welcome the whole LCX Community
We’ve come a long way already, while the most exciting stuff is still ahead of us!
Community Host,
Awesome!
Let’s get started guys?
@montymetzger here’s the first question from the community.
Will the staking be available on the mobile app? So mobile management of portfolio
Monty Metzger, CEO,
Staking will not be part of LCX Mobile at launch next week.
I think about LCX Mobile similar to the launch of the first generation of the iPhone. It’s revolutionary and opens up a new product category for LCX. But as we all know, there are many things we can and will improve.
I hope, you are all excited about the launch
https://twitter.com/lcx/status/1446526854265913346
Community Host,
Awesome!
Thanks for this insight and I believe our esteemed community members can’t wait for this.
Will not proceed to the next question.
Monty, will you betray?
Monty Metzger, CEO,
Thanks for this one @king_LCX We also take critical comments and questions. This is important for us as well.
Trust, Loyalty, Discipline and Integrity are key elements of my business and personal life. Your word is your promise, your reputation and your integrity. Integrity is when you do the right thing even if nobody is watching. At LCX we share the same values on a daily basis and we look for talent who do the same.
Michelle Obama once said: “And Barack and I were raised with so many of the same values like you work hard for what you want in life. That your word is your bond; that you do what you say you’re going to do. That you treat people with dignity and respect, even if you don’t know them and even if you don’t agree with them.” I cannot agree more.
Community Host,
Great and thanks for this insight.
Now to the next question: When can we expect a new partnership?
Monty Metzger, CEO,
More partnerships? We already have announced many strategic partnerships with companies in crypto-, and blockchain-business but also with key policymakers, influential organisations and traditional players. Let me name the most important collaborations: Polkadot with Parity Technology and Web3 Foundation, Hedera Hashgraph, Chainlink, Celo Foundation, ICON Foundation, LunarCrush, Quant, Blockchain Research Institute, DigiByte Foundation and the World Economic Forum. All partners are online at our website at https://www.lcx.com/info/ecosystem/
Nevertheless, we are always looking at expanding the LCX ecosystem and partnerships are in the works and will share with the community as soon as something is finalized. You should join our news channel at https://t.me/LCXNews and follow us at Twitter to always be first to know https://twitter.com/lcx
And by the way, I can tell you that we signed a new major partnership with a Top100 project in Spring this year – which we will finally announce this quarter. Exciting!
Community Host:
Awesome!
Next question: When is the LCX smart chain?
Monty Metzger, CEO,
I love the idea and your thinking. We do invest a lot in new products and technology infrastructure.
I want to highlight our LCX DeFi Protocol which powers the most powerful DEX in the market. defi.LCX.com. LCX has built a layer 2 protocol as a secondary smart contract framework that is built on top of decentralized exchanges (DEXs). The LCX DeFi protocol has an integrated price discovery engine that monitors the price of each trade in order and automatically executes the limit order to Uniswap when the set parameters are matched. Read our whitepaper here https://www.lcx.com/wp-content/uploads/White-Paper-Fire-Salamander-LCX-DeFi-Terminal.pdf
And furthermore our Liechtenstein Protocol. The Liechtenstein Protocol – a new standard for digital securities enabling on-chain and on-token-level compliance.
The Liechtenstein Protocol is the first step to create a decentralized compliance protocol for security-tokens. It offers solutions to current challenges blocking the growth of digital securities. This new security token standard solves how private securities can be issued, transferred and traded in a compliant manner. Read more here https://www.lcx.com/liechtenstein-protocol/.
Btw… thanks to the whole LCX Community for sending us all these important and burning questions. So important!
Community Host :
Indeed, we have great community members!
Next question: How does the terminal work? What’s the purpose of it?
Monty Metzger, CEO,
LCX Terminal was launched in June 2019 and it was our first product made public.
LCX Terminal is a Multi-Exchange Crypto Trading Platform to trade on all major crypto exchanges within a single interface. LCX Terminal brings together real-time and full historical data of all major cryptocurrencies and trading pairs, smart automated and manual trading across all platforms, breaking news desk, social trading signals, powerful analytics and portfolio reporting — all combined in one platform. LCX Terminal cryptocurrency trading software is made for everyday traders as well as professional and institutional investors.
A key part of LCX Terminal is the LCX Smart Order which is fantastic for pro traders: LCX Smart Order is an automated smart order routing system for cryptocurrency trading. Advanced algorithms compare prices across crypto exchanges in real-time and execute trades at the best price.
Start using LCX Terminal right now. It’s online at https://terminal.LCX.com/
Community Host :
Thanks for this and to the next question: Are there any new institutional investors you signed up for recently?
Monty Metzger, CEO,
Institutional investors are always on the lookout for the best investments.
We had been engaging with leading crypto investors since the start. But in recent months it noticed additional attention and growth in interest.
A key signal of this interest can be seen with our recent news.
Coinbase added LCX Token to Coinbase Custody
Coinbase Custody requires a minimum balance of $500,000 to open an account according to their website. In contrast to this, a recent blog article says “Coinbase Custody requires a minimum balance of $10 million USD, and charges a setup fee of $100,000 USD in addition to a 10 basis points fee that is charged monthly”. In any way, this explains that Coinbase Custody is made for institutional and corporate investors.
Just to explain and repeat. The team at Coinbase Custody selected and chose LCX Token. We don’t know the exact reasons behind the decision, but we supported the integration.
I would assume that many of their institutional investors asked to store LCX Token as well.
All details can be shared here https://www.lcx.com/lcx-token-now-supported-by-coinbase-custody/
Community Host :
Guys, we have answered some of your questions and we feel it’d be nice to interact with you guys directly.
Please, feel free to interact with the CEO and thanks for your kind support ?
We are going to open the community?
I hope you’re ready?
Monty Metzger, CEO,
Now it’s the time for your questions! What do you want to know?
Community Question
“Do you think the ongoing regulations will have a positive effect on LCX?”
Monty Metzger, CEO,
Absolutely!
The market will consolidate and only regulated/compliant platforms like LCX will lead the market.
Amazing questions. Now, I am taking a few questions from the community. Let me have a look.
Community Question
When do you see LCX Exchange being in the Top 10 Exchanges?
Monty Metzger, CEO,
Regulation will play a major role here. There are so many exchanges that operate fully illegally or under “questionable” licences. Many of these will close down. The market is consolidating and LCX will profit from this.
LCX is already ranking as a top exchange if you compare only with regulated and authorized platforms.
Furthermore, we have done an extensive cybersecurity test this year – a process that took more than 6 months to complete. The result is that LCX Exchange and the whole LCX platform is among the top 25 worldwide. Security is key for LCX
Details will be published soon!
Community Question
When will LCX be listed on the Top 20 exchanges? (Liquid and Changelly don’t count as Top 20 in my books)
Monty Metzger, CEO,
This is important for us. We aim for the Top 10 only.
Unfortunately, we cannot comment on the status quo, but it’s an ongoing effort.
You will be the first to know!
This is also a massive opportunity for LCX to grow our own user base and outreach. As additional exchanges that trade LCX Token will increase awareness and traction.
Community Question
Monty, what is the secret Project?
Monty Metzger, CEO,
It won’t be secret if it’s called a “secret project” ?
But I can tell you that the announcement and PR is being finalized currently. It won’t be a secret for long anymore.
Community Question
Is there any plan for LCX to list the top 5 crypto exchanges?
Monty Metzger, CEO,
??
Community Question
Can we get any hint about further listings?
Monty Metzger, CEO,
Who would you like to see to be listed at LCX Exchange next? Please send suggestions or introductions to [email protected] > best is to add details about the business plan, team, white paper and key contacts. We will also need a certificate of incorporation, legal opinion about the token and other legal details for a full review.
Community Question
Hi Monty, will you be going to the websummit in November this year, “The world’s largest technology conference” – Inc.
Monty Metzger, CEO,
I have known Paddy, the founder of websummit, for a very long time. Still, remember when he hosted the first websummit with 300 people in Dublin. Paddy is a talented entrepreneur and websummit in Portugal is an amazing event – filling whole stadiums with thousands of people. Paddy’s network is outstanding. His tennis still needs more practice though.
Unfortunately, I won’t be there this year, but it’s always worth going. So much inspiration and passion!
Community Question
What about loans and borrowing with LCX coins?
Monty Metzger, CEO,
As soon as we have regulatory clarity. We followed the discussion between SEC and Coinbase closely. Coinbase now decided to “pause” their loan products. At the same time, Celsius is getting into trouble and is fighting for clarity in several lawsuits.
Loans and Borrowing is a key topic for LCX. We are evaluating legal options, but it will take time.
Community Question
When will Lcx become a bank sir?
Monty Metzger, CEO,
What is a Bank? This is the real question.
Bill Gates once said Banking is needed. Banks are not.
I do see a big shift currently, where DeFi and Crypto are redefining the traditional services and products of Banks. At LCX we do offer trading with crypto assets, storage of digital assets as a regulated service provider, token issuance as a registered trusted service provider and more.
In addition, you have to understand that LCX is fully regulated. To be exact, LCX is regulated with the same supervision standards and compliance KYC, AML and CTF rules as any bank or financial institution.
While we cannot call LCX a bank yet, I do agree with Bill Gates’ vision that there will be new service providers who offer banking-like services.
Community Question
Will there ever be an airdrop for long time users and/or new users?
Monty Metzger, CEO,
Yes, but we have a special idea about future Airdrops.
LCX token has been developed in 2018 and the LCX Community is growing. We have established a value-adding ecosystem that is now showing its impact – just look at the price charts over the last 12 months. That’s why there are no airdrops planned for the LCX token, as we don’t want to dilute the value. That would be counterproductive.
But, we are considering launching new tokens initiated and created by LCX – around key products of LCX.
In case we do this, we would give free tokens to all LCX Token holders and to all wallets who hold LCX Token.
According to Etherscan, we have 9,262 token holders right now https://etherscan.io/token/0x037a54aab062628c9bbae1fdb1583c195585fe41
All LCX Token holders should benefit in my perspective.
We love our LCX Community and we are giving back!
With this vision, I want to close this AMA.
Thank you for your support! Thanks for this fantastic AMA!
Onwards and Upwards!
You know the beat. – https://www.youtube.com/watch?v=POG68-SXIsY
Talk to you soon and happy trading at exchange.LCX.com!
Community Host :
The AMA session with Monty has finally come to an end.
We’re greatly astounded to have a well-enunciated AMA session with the CEO
Also, we are indeed overwhelmed by all our esteemed community members, for your support and vitality towards the project.
For more information and to be part of the project, you may visit the website via: https://www.lcx.com/insights/
Thanks to all of you! The $LCX Community is amazing!
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.
