According to the Tokens and TT Service Provider Act (TVTG) for the public offering of the LEOX Utility Token.
Token Issuer according to TVTG: LCX AG
Date of the Basic Information: September 29, 2022
The Token Issuer, according to TVTG is the company raising funds in the name and for the account of GALILEO NETWORK LLC, a company incorporated in Saint Vincent and the Grenadines, with the seat and correspondence address at Stoney Ground, Kingstown, St. Vincent and the Grenadines 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 LEOX 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
2.1. WARNINGS
2.2. KEY INFORMATION ON THE ISSUER
2.3. KEY INFORMATION ON THE LEOX TOKEN
2.4. KEY INFORMATION ON THE TOKEN SALE ECONOMICS
3.1. VISION AND MISSION
3.2. Galileo (Galileo Network LLC)
9.1. Tokens are non-refundable
9.2. Tokens are provided on an “as is” basis
9.3. Risks relating to digital asset networks
9.4. Loss of private keys may render Tokens worthless
9.5. Irreversible nature of blockchain transactions
9.6. Risk of wallet loss, hack, or data theft
9.7. Tax Risks
9.8. Disclosure
This document contains Basic Information according to Art. 33 of Tokens and TT Service Provider Act (“TVTG”).
The offering of the LEOX Token (“LEOX” or “Token”) will be carried out by LCX AG (“the Issuer”) on behalf and for the account of GALILEO NETWORK LLC, a company incorporated in Saint Vincent and the Grenadines, with the seat and correspondence address at Stoney Ground, Kingstown, St. Vincent and the Grenadines (“Galileo” or “Galileo Network”).
LCX AG is regulated by the Financial Market Authority of Liechtenstein under 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 LEOX 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 constitutes 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 LEOX Tokens are urged to read the entire Basic Information.
Investment in 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 LEOX and facilitates the LEOX Token sale. This includes the legal issuance of the LEOX token in LCX’s role as the registered Token Issuer, investor the 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 LEOX at LCX Exchange in LCX’s role as TT Exchange Service Provider.
LCX’s token sale manager and comprehensive crypto compliance suite empowers Galileo to manage the LEOX 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, real-world diamonds as NFTs, and LCX Terminal, an advanced trading platform for portfolio management.
LEOX is the utility token that powers the Galileo ecosystem. The LEOX token can be used within the Galileo ecosystem to provide users with discounts on trading fees, staking rewards, access to new NFTs launches, and the ability to vote on decisions concerning the future of the protocol.
With LEOX you can use your wallet as proof of ownership, and control your funds; no third parties are required. Galileo Protocol is protected by well-established (third party) audited cryptography and Quant Network level security. This safeguards your wallet, tokens, non-fungible tokens, and transactions.
You can transfer LEOX without using an intermediary such as a bank. It is similar to handing someone something in person, but it can be done safely for everybody, anywhere, and at any time. You only require an internet connection, the application, and a LEOX-compatible wallet. You do not need a bank account to accept and receive LEOX tokens.
The LEOX Token will be at the center of the ecosystem, as such we want to ensure that it is widely distributed amongst our community, whilst ensuring that the core team retains some ability to guide development.
Details about the timing and process of the Token Sale will be published at LCX.com and accounts.LCX.com/Token-Sale.
Token sale start date: September 29th, 2022
Token sale duration: Until sold out or a maximum of 12 months after the start of sale.
Token supply: 200,000,000 LEOX Tokens
Private Sale: 45,000,000 LEOX
Public Sale: 21,000,000 LEOX
Currencies accepted: BTC, ETH, QNT, USDC, and EUR.
Token Type:
The LEOX token is a QRC-20 multichain token, Initially launched on the Ethereum (ETH) Blockchain. The QRC smart contracts are blockchain agnostic and use standard specifications, so a single token can be deployed across multiple networks without the need to re-code. To illustrate: although the QRC-20 contracts, when deployed on Ethereum, are comparable with ERC-20 contracts (the standard contract for digital currency), they have an edge: they can also be deployed directly onto other chains, such as Hyperledger Fabric, where they behave identically.
TOKEN RELEASE STRUCTURE
Private sale participants are divided into three different vesting schedules depending on their entry point and price:
The public sale has the following vesting structure:
Listing means “the listing day of the LEOX token on LCX Exchange.”
The primary advantage of creating NFTs of physical assets is that they can be used to demonstrate the authenticity and ownership of the underlying assets. In a world where the counterfeiting business is valued at more than $500 billion, certified and authenticated assets are much desired. Galileo’s pNFTs provide a valuable tool for buyers and sellers to establish that authenticity.
The pNFT holder is registered as the legal owner of the physical asset on the blockchain and they are the only party allowed to transfer or sell it on (traditional) markets.
With Galileo Protocol, most people can convert real-world assets into NFTs.
These NFTs are purchased with fiat currency or cryptocurrencies (such as ETH or USDC).
Financial transactions for all: Not everyone has access to traditional financial services (e.g. lending, borrowing, saving). To start investing with Galileo, you only need an Internet connection, a cryptocurrency wallet, and Galileo protocol.
A peer-to-peer network: Galileo enables direct value transfers and transactions between individuals and businesses. You are not required to use intermediary banking or payment systems if you wish not to.
A more secure system: Galileo utilises a know-your-customer (KYC) standard to safeguard users and financial institutions against fraud, counterfeiting, bribery, money laundering, and terrorist funding.
Commercial assurances: You can conduct business without the authority of a major firm. Smart contract technology guarantees that assets will only be transferred if both parties fulfill their obligations.
Interoperability guarantees an improved customer experience. To encourage user acceptance, Galileo is designed to be interoperable with other blockchains and traditional banking.
Galileo Network LLC is a fintech company. The company’s flagship application is known as “Galileo Protocol”. This protocol allows the creation of “pNFTs” (physical NFTs) to encrypt, store, and transfer data securely. These pNFTs are non-fungible tokens representing physical, authenticated assets issued on multiple chains (e.g. Ethereum, Polygon, and XDC Network).
Please refer to the White Paper for more detailed info about the Galileo roadmap and the LEOX Token.
The LEOX Token qualifies as a utility token pursuant to Liechtenstein’s Act on Token and Trustworthy Technology Service Providers (TVTG).
LEOX Tokens do not constitute any absolute or relative rights at all. LEOX tokens grant absolutely no promise of a share in revenue, earnings, or any other form of income. This token’s purpose is to act specifically as a utility and to facilitate the governance of the Galileo ecosystem.
The LEOX token is a QRC-20 multichain token, Initially launched on the Ethereum (ETH) Blockchain. The QRC smart contracts developed by Quant Network are blockchain agnostic and use standard specifications, so a single token can be deployed across multiple networks without the need to re-code. To illustrate: although the QRC-20 contracts, when deployed on Ethereum, are comparable with ERC-20 contracts (the standard contract for digital currency), they have an edge: they can also be deployed directly onto other chains, such as Hyperledger Fabric, where they behave identically. Per the website; https://quant.network/products/tokenise/
Galileo Network is financing operations and other costs related to the Galileo components through the LEOX Token Sale. Galileo has created the LEOX Token as a utility token with a long-term incentive model for customers and platform users..
Galileo Networkhas chosen LCX to manage and facilitate the LEOX Token Sale. LCX is not responsible and not liable for any business activity of Galileo Network.
For the purpose of the token sale, Galileo Networkauthorized LCX AG to facilitate the public offering through LCX AG on behalf and account of Galileo Network. For the LEOX 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 LEOX Token Sale, LCX will be listing LEOX at LCX Exchange in LCX’s role as TT Exchange Service Provider.
The LEOX Tokens will be publicly offered by LCX AG to the users of the LCX platform.
The LEOX 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 Galileo.
Users can subscribe for LEOX 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.
Galileo will mint 200 million $LEOX tokens in 39 months, with 33.5% distributed to
members of the community (Seeds, Early Investors, Private & Public Sales), 12% to be used to buy and store Physical Assets for the community, 4% for staking rewards, 13% as Reserve & Liquidity, 17.5% as Ecosystem Treasury, and 20% has been reserved for Galileo team members and Advisors.
The total supply is 200 million LEOXs. Of this supply, 33.5% gets distributed to members of the community (Seeds, Early Investors, Private & Public Sales), 12% to be used to buy and store Physical Assets for the community, 4% for staking rewards, 13% as Reserve & Liquidity, 17.5% as Ecosystem Treasury, and 20% has been reserved for Galileo team members and Advisors.
The issue date of the LEOX Tokens will be September 29th, 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 Galileo.
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 LEOX depends on the development and acceptance of this industry.
Extreme volatility in the future could have a material adverse effect on the value of LEOX and LEOX 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 Ethereum and the Quant Network (Overldeger), would affect the ability to transfer digital assets 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, with the usage of a technology known as “the Overledger DLT gateway”, Quant is able to seamlessly connect different decentralized networks, regardless of which specific distributed ledger technology they use (e.g. blockchain, DAG, or any other protocol).
Quant’s main product is its Overledger Enterprise platform, which it has billed as the first DLT gateway for business. It’s used as a simple API gateway to various distributed ledgers, allowing companies to easily connect their pre-existing infrastructure to the blockchain. The platform provides an easy-to-use REST API that provides a standardized way to interface with a wide variety of blockchains.
The technology allows businesses to create what Quant describes as “multi-DLT smart contracts,” or mDApps. These are essentially smart contracts that exist across multiple distributed ledgers, thereby allowing decentralized applications (DApps) to leverage the data and capabilities of multiple platforms to provide functionality that was not possible before.
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 issuer 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, a 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.
LCX is solely acting as a trusted technology service provider for this token sale and is not responsible and not liable for any business activity of Galileo. LCX and Monty Metzger are getting compensation from Galileo as a success fee and other compensation paid in the project native token and other assets. Monty Metzger is CEO at LCX as well as Advisor at Galileo. From time to time LCX and Monty Metzger will engage in transactions of our own tokens.
Contacts:
For LCX AG,
Herrengasse 6
9490 Vaduz
Liechtenstein
Monty C. M. Metzger, CEO and Member of the Board
For Galileo Network LLC
Stoney Ground,
Kingstown, St. Vincent and the Grenadines
Pierre Beunardeau – Founder and CEO at Galileo Network LLC
Nathaniel Debache – Founder and CFO at Galileo Network LLC
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.
