according to the Tokens and TT Service Provider Act (TVTG) for the public offering of the VIS Token Issuer according to TVTG: LCX AG
Date of the Basic Information: February 10, 2022
The Token Issuer according to TVTG is the company raising funds in the name and for the account of ENVISION STOCK PTY LTD, a company incorporated in Australia, with the seat and correspondence address at Nedlands WA 6009, Australia (“Envision Stock”) and accepts responsibility for the contents of this Basic Information and declares that as at the date of this Basic Information, to its knowledge, the information provided is correct and no material circumstances have been omitted. All investments, including Investment in the VIS Tokens involve certain risks including the total loss of invested funds. Potential buyers should read the contents of this Basic Information in its entirety prior to making an investment decision.
LCX AG, Herrengasse 6, 9490 Vaduz, Liechtenstein represented by Monty C. M. Metzger, CEO
Table of Contents
This document contains Basic Information according to Art. 33 of Tokens and TT Service Provider Act (“TVTG”).
The offering of the VIS Token (“VIS” or “Token”) will be carried out by LCX AG (“the Issuer”) on behalf and for account of ENVISION STOCK PTY LTD, a company incorporated in Australia, with the seat and correspondence address at NEDLANDS WA 6009 (“EnvisionStock”).
LCX AG is regulated by the Financial Market Authority of Liechtenstein under the registration No. 288159 as a trusted technology service provider. LCX AG is registered as TT Exchange Service Provider, TT Token Depositary, Token Generator, TT Key Depositary, TT Price Service Provider, TT Identity Service Provider, TT Token Issuer for our own name (Article 12(2) TVTG) and TT Token Issuer for third parties (Article 12(1) TVTG) under the provisions of the TVTG.
Only registered users of the LCX platform (see: https:/LCX.com) are eligible to purchase the Tokens. All buyers must read and accept the Terms of VIS Token Sale published on the purchasing platform.
Any potential buyer will be subject to all applicable KYC/AML in place at the time of the purchase through LCX AG. Failure to comply with the KYC/AML procedures and routines applicable to the purchase of Tokens shall prevent the purchase of the Tokens or the imposition of sanctions on purchasers, including the freeze of funds, mandatory cancellation or redemption of Tokens or any other measure that the Issuer may deem appropriate to meet the applicable regulatory requirements.
Whether the Token constitutes a suitable investment must be assessed in light of each investor’s own circumstances. Neither this Basic Information nor any marketing material relating to the Basic Information constitute investment advice, financial advice or any other kind of advice to investors. Investors must make a suitability assessment regarding investments in the Token or consult with the investor’s professional advisors. An investment in the Token is only suitable for investors who have sufficient experience and knowledge to assess risks related to the investment.
The Issuer will not sell any Tokens where potential buyers are citizens or residents of restricted jurisdictions as determined by the Issuer. In particular, restricted jurisdictions are the United States of America and China, further any US persons are prohibited from participating. The following Jurisdictions are defined as prohibited countries according to Issuers AML framework in general: Afghanistan, Angola, Bahamas, Barbados, Bangladesh, Bosnia and Herzegovina, Botswana, Burkina Faso, BVI, Cambodia, Cayman Islands, China, Colombia, Cook Islands, Crimea Region, Cuba, Ecuador, Eritrea, Ethiopia, Ghana, Guyana, Iran, Iraq, Jamaica, Kenya, Kosovo, Laos, Lebanon, Libya, Mauritius, Montserrat, Morocco, Myanmar (Burma), Nauru, Nicaragua, North Korea, Pakistan, Palestinian Territory and Gaza Strip, Panama, Papua New Guinea, Samoa, Sao Tome and Principe, Senegal, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tonga, Trinidad and Tobago, Tunisia, Uganda, Vanuatu, Venezuela, Yemen, Zimbabwe.
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR CHINA OR OTHERWISE THAN TO PERSONS TO WHOM IT CAN LAWFULLY BE DISTRIBUTED – THIS TOKEN OFFERING IS AVAILABLE ONLY TO ADDRESSEES OUTSIDE OF THE UNITED STATES, CHINA OR OTHER RESTRICTED JURISDICTIONS.
The Issuer has not authorized the making of any offer by any offeror, and the Issuer has not consented to the use of this Basic Information by any other person in connection with any offer of the Basic Information in any jurisdiction.
Any offer made without the consent of the Issuer is unauthorized and the Issuer does not accept any responsibility or liability in relation to such offer or for the actions of the persons making any such unauthorized offer.
This summary is an overview of the subsequent Basic Information.
Potential buyers of VIS Tokens are urged to read the entire Basic Information.
Investment in the Tokens involves substantial risks. Investors could lose all or part of the invested capital. Civil liability attaches only to those persons who have tabled the summary including any translation thereof, but only where the summary is misleading, inaccurate, or inconsistent when read together with the other parts of the Basic Information.
LCX is a regulated, compliant and secure blockchain company established in 2018 and headquartered in Vaduz, Liechtenstein.
LCX, LCX.com, the Liechtenstein Cryptoassets Exchange or LCX AG (hereinafter referred to as “LCX” or “LCX AG”) is a globally-focused financial technology company. LCX AG is established under the jurisdiction of Liechtenstein, with its registered address at Herrengasse 6 in Vaduz, Liechtenstein, 9490 Vaduz. Registered in the commercial register at Vaduz, Liechtenstein with register number: FL-0002.580.678-2 and Legal Entity Identifier (LEI) Number 529900SN07Z6RTX8R418.
As a Trusted Technology Service Provider that is registered under the Blockchain Laws (TVTG), LCX is required to comply with the KYC/AML/CFT standards under the Due Diligence Act and is supervised by the Financial Market Authority in Liechtenstein (“FMA”). The core activities of LCX in accordance with the scope and the definitions of the Lichtenstein Blockchain Act are to offer services as:
LCX is the Token Issuer of VIS and facilitates the VIS Token sale. This includes the smart contract development and creation in LCX’s role as Token Generator, investor identification in LCX’s role as TT Identity Service Providers, secure custody in LCX’s role as TT Token Depositary and TT Key Depositary, and listing VIS at LCX Exchange in LCX’s role as TT Exchange Service Provider.
LCX’s token sale manager and comprehensive crypto compliance suite empowers EnvisionStock to manage the VIS Token sale in a compliant manner. LCX’s advanced Crypto Compliance Suite comprises Know-Your-Customer (KYC), Anti-Money-Laundering (AML), and Blockchain Analytics (KYT) processes facilitate quick and automated investor onboarding for the private sale and public sale.
The LCX ecosystem consists of LCX Exchange, a regulated centralized exchange for a variety of digital assets, Fire Salamander, a powerful DEX aggregator, Tiamonds, tokenized diamonds, and LCX Terminal, an advanced trading platform for portfolio management.
By leveraging blockchain technology, Envision Stock facilitates the peer to peer exchange of stock content where content creators sell directly to consumers, avoiding hefty fees or forfeiting rights as per current centralized solutions. Envision is a complete one stop shop for stock content. Within the Creators Portal, photographers and videographers upload directly to the Content Marketplace, selecting pricing for their own content, giving power back to the creator. VIS tokens are the exclusive form of payment on the Envision marketplace where consumers exchange VIS tokens for the rights to stock photos and footage directly with the content creator.
Mechanics and Model
Vis Tokens are pure utility tokens, based on the ERC-20 standard and issued on the decentralized Ethereum mainnet. The ERC-20 standard is fit for purpose including wide accessibility to an extensive ecosystem of token users and investors.
The VIS token has been created with the intention of developing utility with increased adoption and market capitalisation. Crypto currency markets are volatile, Envision created an ecosystem where content price is NOT subject to volatility, i.e. the relative value of VIS in fiat terms. The price of content will be a fixed value in fiat terms, however, displayed and settled in VIS, therefore with price appreciation Hodlers who pre purchase and Hodl VIS tokens will be rewarded with decreasing the cost of content in fiat terms. The Vis token has three key features which drive demand in addition to organic adoption:
Private Token sale start date: February 15, 2022
Public Token sale start date: March 1, 2022
Token sale duration: Ongoing.
Token distribution and listing date total supply: 200,000,000 Vis Tokens
Private Sale: 20,000,000 Vis
Public Sale: 30,000,000 Vis
TOKEN RELEASE STRUCTURE
Strategic/creative partner sale participants have two vesting options with varying prices;
Public sale participants will have three vesting options with varying prices;
Currencies accepted: BTC, ETH, USDC, and EUR.
Token Type: ERC20
Typical stock media platforms can take between 60-85 percent in commission fees alone. Envision aims to completely change these outdated pricing structures and put an end to unfair premiums by giving the full commission back to the creator. Unlike typical stock media platforms, Envision’s peer 2 peer exchange of stock content for (VIS) ERC-20 tokens eliminates the need for inconvenient ownership contracts and paperwork. Instead, the smart contract verifies the transaction on the blockchain platform and hands over ownership automatically, keeping a digital record and proof of authenticity.
Our roadmap includes an extensive delivery of future enterprise and consumer applications, solutions and services and other innovative Envision Stock enhancements. Envision Stock has plans to implement or sponsor a broad range of strategies to drive the momentum for this growth.
Along with an extensive international sales development strategy, Envision has designed further approaches to deliver VIS Token adoption and expansion support. By tapping into markets that are already sizable yet far from reaching their full potential, these strategic approaches include but are not limited to partnerships; community collaboration, new ventures and knowledge sharing; research and development; as well as consulting and professional services.
Please refer to our White Paper for more detailed info about the Envision roadmap and the VIS Token.
VIS Token qualifies as a token pursuant to Liechtenstein’s Act on Token and Trustworthy Technology Service Providers (TVTG).
VIS Tokens do not constitute any absolute or relative right at all. VIS tokens are the exclusive form of payment on the ENVISION marketplace where consumers exchange VIS tokens for the NFT associated to a piece of stock media directly with the content creator. VIS tokens are also used to distribute rewards, fund the platform and incentivise platform participants/token holders. In total therefore, the Token does not unfold any obligations to other parties rather than feature the ecosystem-powering utility.
Launched on the Ethereum Blockchain, VIS Token is an ERC20 compliant Smart Contract. The VIS smart contract has been created and developed by LCX as the registered Token Generator in accordance with the Liechtenstein Blockchain Laws.
The smart contract has been audited by Certik and the smart contract audit has been published online.
VIS Token is programmed to interact with any ERC20 compliant wallet or application. Running on Ethereum makes this token simple to send and store.
Envision Stock through the VIS Token Sale is financing operations and other costs related to the Envision Stock components. Envision Stock has created the VIS Token as a utility token with a long term incentive model for customers and platform users.
Envision Stock has chosen LCX to manage and facilitate the VIS Token Sale.
For the purpose of the token sale, Envision Stock authorized LCX AG to generate the VIS Tokens in LCX’s role as Token Generator and to facilitate the public offering through LCX AG on behalf and account of Envision Stock. For the VIS Token Sale LCX is also responsible for the investor identification in LCX’s role as TT Identity Service Providers and secure custody in LCX’s role as TT Token Depositary and TT Key Depositary.
After concluding the VIS Token Sale LCX will be listing VIS at LCX Exchange in LCX’s role as TT Exchange Service Provider.
The VIS Tokens will be publicly offered by LCX AG to the users of the LCX platform.
The VIS Token does not represent any contractual rights or claims that entitle the Token holder to receive payments or other forms of compensation, or give the Token holder ownership of a legal person, contractual rights or any similar rights.
Token holders cannot request an exchange or redemption of the monetary value vis-à-vis the issuer, LCX, or vis-à-vis EnvisionStock.
Users can subscribe for VIS Tokens, in the sense of an expression of intent for the purchase of Tokens to be placed on the market, when the public offer begins. If the number of subscriptions reaches the existing quantity of Tokens to be placed on the market by LCX, then LCX completes the public offer and distributes the Tokens to the users who subscribed for them.
The main minting supply is 200,000,000 VIS. Of this supply 11.5% is reserved for seed, 3.5% for private sale, 10% for strategic partners, 15% for public sale, 5% for advisors, 5% for foundation reserve, 5% for partnership incentives, 15% for team reserve, 3.5% for rewards and 1.5% for liquidity pool.
The issue date of the VIS Tokens will be February 15th 2022.
The Issuer is not obliged to provide Token holders with a refund for any reason and Token holders cannot request an exchange or redemption of the monetary value vis-à-vis LCX AG or vis-à-vis EnvisionStock.
Tokens will be provided on an “as is” basis. The Issuer and each of their respective directors, officers, employees, equity holders and affiliates make no representations or warranties of any kind. Digital assets are part of a new and rapidly evolving industry, and the value of VIS depends on the development and acceptance of this industry.
Extreme volatility in the future could have a material adverse effect on the value of VIS and VIS could lose all or substantially all of its value.
Digital asset networks are dependent upon the internet. A disruption of the internet or a digital asset network, such as the Ethereum Network, would affect the ability to transfer digital assets, including ETH, and, consequently, their value.
Many digital asset networks face significant scaling challenges and are being upgraded with various features to increase the speed and throughput of digital asset transactions. These attempts to increase the volume of transactions may not be effective.
Banks may not provide banking services, or may cut off banking services, to businesses that provide digital asset-related services or that accept digital assets as payment, which could dampen liquidity in the market and damage the public perception of digital assets generally or any one digital asset in particular, such as Bitcoin, and their or its utility as a payment system, which could decrease the price of digital assets generally or individually.
In addition, the Ethereum blockchain rests on open source software, and accordingly there is the risk that the Token smart contract may contain intentional or unintentional bugs or weaknesses which may negatively affect Tokens or result in the loss or theft of Tokens or the loss of ability to access or control Tokens. In the event of such a software bug or weakness, there may be no remedy and Tokens holders are not guaranteed any remedy, refund or compensation.
If a private key is lost, destroyed or otherwise compromised and no backup of the private key is accessible, Token holders will not be able to access the blockchain asset associated with the corresponding address, and the Issuer will not be able to restore the private key.
Transactions involving Tokens that have been verified, and thus recorded as a block on the blockchain, generally cannot be undone. Even if the transaction turns out to have been in error, or due to theft of a user’s Tokens, the transaction is not reversible. Consequently, the is unable to replace missing Tokens or seek reimbursement for any erroneous transfer or theft of Tokens.
The Tokens are held by the investor in wallets, coded access. If the investor loses this access, there is no way to get to the Token. They will be lost. In particular, the Issuer is neither actually nor legally able to regenerate and issue the Tokens. The same risk exists if a third party succeeds in gaining unauthorized access to the wallet. Also, in this case, where a third-party succeeds in removing and transferring the Tokens from the wallet, the Issuer is not able to issue new Tokens to the investor.
Prospective Token holders must seek their own tax advice in the relevant jurisdictions in connection with acquiring Tokens, which may result in adverse tax consequences, including withholding taxes, income taxes and tax reporting requirements.
Contacts:
For LCX AG
Herrengasse 6
9490 Vaduz
Liechtenstein
Monty C. M. Metzger, CEO and Member of the Board
For Envision Stock
Nedlands WA 6009,
Australia
Miles Bradley– Co-Founder and CFO Envision Stock PTY LTD
Thomas Iffla – Co-Founder and COOat Envision Stock PTY LTD
André Lissiman – Co-Founder and CMO at Envision Stock PTY LTD
This Basic Information and the rights and obligations of the investors and the Issuer are governed exclusively by the laws of Liechtenstein excluding the application of International Private Law and the UN Sales Convention. The place of jurisdiction for all disputes arising out of or in connection with the public offering pursuant to this Basic Information shall be the jurisdiction of the Liechtenstein courts.
Should any provisions of this Basic Information, be or become invalid or unenforceable as a whole or in part, the remaining provisions shall remain in force. Any legally ineffective or unenforceable provisions shall be replaced by legally effective and enforceable provisions in accordance with the meaning and purpose of this Basic Information and the Token description, which in their economic effects come as close as legally possible to the legally ineffective or unenforceable provisions.
LCX AG is a company founded in 2018 and registered in Liechtenstein No. FL-0002.580.678-2. LCX AG is regulated by the Financial Market Authority of Liechtenstein under the registration No. 288159 as a trusted technology service provider.
