Basic Information According to the Tokens and TT Service Provider Act (TVTG) for the public offering of the GANG Utility Token. Token Issuer according to TVTG: LCX AG
Date of the Basic Information: May 12, 2023
The Token Issuer, according to Art 12(1) TVTG is the company raising funds in the name and for the account of Gauss International AG, Herrengasse 6, 9490 Vaduz, Principality of Liechtenstein (“Gauss”), 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 contributions, including through subscription in the GANG Tokens, involve certain risks, including the total loss of contributed funds. Potential buyers should read the contents of this Basic Information in its entirety prior to making a purchase decision.
LCX AG, Herrengasse 6, 9490 Vaduz, Liechtenstein represented by Monty C. M. Metzger, CEO
IMPORTANT INFORMATION
SUMMARY
2.1. WARNINGS
2.2. KEY INFORMATION ON THE ISSUER
2.3. KEY INFORMATION ON THE GANG TOKEN
2.4. KEY INFORMATION ON THE TOKEN SALE ECONOMICS
BUSINESS OVERVIEW
3.1. VISION AND MISSION
3.2. Gauss International AG
INFORMATION ABOUT THE TOKEN AND ASSOCIATED RIGHTS
NAME OF THE TT SYSTEM
DESCRIPTION OF PURPOSE AND NATURE OF LEGAL TRANSACTION UNDERLYING TOKEN ISSUANCE
DESCRIPTION OF PURCHASE AND TRANSFER CONDITIONS FOR THE TOKENS
ISSUANCE DATE
RISK ASSOCIATED WITH PURCHASING THE TOKENS
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
9.7. Disclosure
PERSONS RESPONSIBLE AND ROLES
APPLICABLE LAW AND JURISDICTION
SEVERABILITY CLAUSE
This document contains Basic Information according to Art. 33 of Tokens and TT Service Provider Act (“TVTG”).
The offering of the GANG Token (“GANG” or “Token”) will be carried out by LCX AG (“the Issuer”) in Liechtenstein on behalf and for the account of Gauss International AG (“Gauss”), a limited company incorporated in Liechtenstein with the Gauss International AG address at Herrengasse 6, 9490 Vaduz, Liechtenstein.
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 GANG 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 instrument must be assessed in light of each contributor’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. Contributors must make a suitability assessment regarding their contribution in the Token or consult with professional advisors. Purchase of the Token is only suitable for investors who have sufficient experience and knowledge to assess risks related to the participation in a token sale.
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 or citizen (tax, greencard holder or otherwise) 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. Prohibited countries also include sanctioned countries pursuant to OFAC or EU or Liechtenstein sanction lists.
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 GANG Tokens are urged to read the entire Basic Information.
Participation in the Token Sale involves substantial risks. Participants could lose all or part of their contributed 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 GANG and facilitates the GANG Token sale pursuant to Art 12(1) TVTG in Liechtenstein. This includes the regulatory compliant legal issuance of the GANG token in Liechtenstein. This includes the regulatory compliant issuance of the GANG Token, identification of contributors as TT Identity Service Providers, secure custody in LCX’s role as TT Token Depositary and TT Key Depositary, and listing GANG at LCX Exchange in LCX’s role as TT Exchange Service Provider in Liechtenstein.
LCX’s token sale manager and comprehensive crypto compliance suite empowers Gauss International AG to manage the GANG 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.
The GANG is the digital currency and native token of Gauss International AG, which can be used as currency of value and proprietary layer 1 token in the Gauss ecosystem. GANG can be used to:
You will also be able to earn GANG by winning tournaments hosted by Gauss International AG, and by doing positive actions for the community.
GANG will also be used to reward game developers who create content for Gauss International AG. As more games are added to the platform, the number of users will grow along with demand for the GANG token.
The GANG 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: Saturday May 13, 2023
Token sale duration: Saturday May 13, 2023 – Thursday 7 July 2023; 55 Days
Token supply: 250,000,000 GANG
Private Sale 1: 1,000,000 GANG
Private Sale 2: 4,000,000 GANG
Public Sale: 12,500,000 GANG
Currencies accepted: BTC, ETH, USDC, and EUR.
Token Type: The GANG token is a GTS-20 token, launched on the Gauss Blockchain.
TOKEN RELEASE STRUCTURE
Private sale has the following vesting structure:
The public sale has the following vesting structure:
Listing means “the listing day of the GANG token on LCX Exchange.”
In a society filled with distractions, it is easy for people to lose sight of their favorite brands. The goal at Gauss is to bring partners back into the spotlight. Together, they will empower your brand by expanding consumer engagement with the use of your own exclusive token. The Gauss ecosystem is being created to address a common rift in traditional community outreach methods: authenticity.
Gauss is here to help your brand take charge of its voice. They help design custom digital assets, develop technical solutions, and create exclusively branded tokens that fit your needs.
The Gauss Ecosystem will use open source building blocks for Gauss 1.0 and will continue to adopt and create more in the future. Open source technology is paramount to collaborative innovation. Many of the technologies that people use today were born from the open source community. Without it, most prominent technologies would either be locked behind patents or never developed at all. Though Gauss will evolve and develop outside of what is available at any given time, we are committed to contributing back to the community which provided us this foundation. Developing their own blockchain was the best way to accomplish their core goal of serving their partners and Gauss Ecosystem users.
Their mission goes beyond launching tokens for partnered brands. They are maintaining a secure and thriving ecosystem. Gauss believes this can only be achieved by creating their own blockchain vs. launching as a layer-2 on an existing chain.
The network consists of various side chains and parachains, and will continue to grow to meet the evolving needs of partners. The most prolific use cases for these expansive, interoperable environments will be blockchain gaming and a standalone chain for future NFTs.
Cross-chain interoperability outside the Gauss ecosystem is an important focus and is why the ecosystem is EVM-compatible. Over time, the barriers between blockchains will diminish and users will have a more seamless experience across networks.
Bridges and off-chain custodians are early examples of this. But they also represent one of the largest threat vectors in Web 3.0. At launch, Gauss will not offer native bridges. This is a delicate area that would be best handled by a suitable partner.
Gauss is building the Gauss 2.0 to launch rapidly by focusing on developing a strong infrastructure from the start. Gauss will continue to evolve over time via adding functionality, expanding use cases, improving user experiences, creating a secure onboarding/launch processes for brands, and ensuring the integrity of the ecosystem.
Access, scalability, and longevity of the Gauss Ecosystem are key concerns. Gauss will continually test and explore new ways to maintain a fast, reliable blockchain ecosystem. These methods may include total number of validators, shards, larger block sizes, zk-rollups, and batched transactions. The focus will be on improving latency, maintaining sufficient TPS, and ensuring a high level of integrity.
The Gauss Ecosystem is a Curated Layer 1 Blockchain designed to change the global perception of blockchain technology. Gauss recognizes the importance of cryptocurrency as it exists today and its untapped potential and addresses three prevalent issues with crypto:
In order to tackle these challenges, Gauss is creating a process that provides both users and consumers top notch integrity and security while operating on and within the Gauss ecosystem. This includes taking certain steps to research and analyze projects that want to operate inside the ecosystem.
Key Features of Gauss
Please refer to the Whitepaper for more detailed info about the Gauss International AG roadmap and the GANG Token.
The GANG Token qualifies as a utility/payment token (non-security and non-e-money token that primarily comes with a voucher function) pursuant to Liechtenstein’s Act on Token and Trusted Technology Service Providers (TVTG).
GANG Tokens do not constitute any absolute or relative rights at all. GANG 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 with a primary voucher function on the network and to facilitate the governance of the Gauss ecosystem.
Launched on the Gauss Blockchain, Gauss Token is an GTS-20 compliant Smart Contract. .
Gauss blockchain is built using Polygon-Edge, an EVM-compatible blockchain client that is modular and extensible.
Gauss Explorer is built using Blockscout, an EVM compatible open source block explorer used in many public decentralized blockchains.
Gauss native Swap is cloned from PancakeSwap, which is an open source Swap itself built from UniSwap and SushiSwap.
Gauss testnet Faucet is a fork of an open source faucet project that is built to work on nearly every EVM chain.
The Gauss chain will be audited by renowned third party security audit company and the details of the audit will been published online,
GANG Token is programmed to interact with any GTS-20 compliant wallet or application. Running on Gauss chain makes this Token simple to send and store.
Gauss International AG is financing development, operations and other costs related to the Gauss International AG components through the GANG Token Sale. Gauss International AG has created the GANG Token as a utility token with a long-term incentive model for customers and platform users as well as third party game developers.
Gauss International AG has chosen LCX to manage and facilitate the GANG Token Sale in Liechtenstein. LCX is not responsible and not liable for any business activity of Gauss International AG.
For the purpose of the token sale, Gauss International AG authorized LCX AG to facilitate the public offering through LCX AG on behalf and account of Gauss International AG in Liechtenstein. For the GANG Token Sale LCX is also responsible for the contributor 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 GANG Token Sale, LCX will be listing GANG at LCX Exchange in LCX’s role as TT Exchange Service Provider.
The GANG Tokens will be publicly offered by LCX AG to the users of the LCX platform in Liechtenstein.
The GANG 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 Gauss International AG .
Users can subscribe for GANG 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 total supply is 250 Million GANG. Of this supply, 45% gets distributed to members of the community (Seeds, Early Investors, Private & Public Sales), 6% for Charitable Fund, 6% for Marketing, 6% for Operations and Development, 10% for Liquidity, 5% for Incentives, 7% for Reserve, 10% for Founders and 5% for Advisors, respectively.
The issue date of the GANG Tokens will be Saturday 13th May 2023.
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 Gauss International AG.
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 GANG depends on the development and acceptance of this industry.
Extreme volatility in the future could have a material adverse effect on the value of GANG and GANG 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 Gauss Blockchain, would affect the ability to transfer digital assets, including GANG, 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, Gauss blockchain is built using Polygon-Edge, an EVM compatible blockchain client that is modular and extensible, 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 are final and 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 participants in wallets, with encoded access. If the participant 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.
Hacks and other malicious attacks directed towards the issuer may have a material adverse effect on the value of GANG Tokens and GANG Tokens could lose all or substantially all of its value. The risk of accidental loss (e.g., in case of force majeure events, including theft or the disablement by third parties) shall in any case be borne by the participant or Gauss. LCX is in no case liable for slight negligence and towards business clients LCX is also not liable for gross negligence.
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 Gauss International AG nor their token properties. LCX and Monty Metzger are getting compensation from Gauss International AG 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 Gauss International AG. From time-to-time LCX and Monty Metzger may engage in transactions of own tokens.
Contacts:
For LCX AG,
Herrengasse 6
9490 Vaduz
Liechtenstein
Monty C. M. Metzger, CEO and Member of the Board
For Gauss International AG:
Name: Patrick G. Rooney
Title: CFO & Co-Founder/Director
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.
