Dear LCX community,
On November 9th, 2023, we had the most engaging and supportive AMA in our official Telegram chat, where our CEO, Monty C. M. Metzger (@montymetzger) answered questions from the community on various topics related to the platforms, our objectives, upcoming launches, and more. We really appreciate the warm conversation with the community and would like to share the summary of our live Ask Me Anything (AMA) session, moderated by community moderator “King” & “Alex”.
Community Host
Let’s welcome @montymetzger to this month’s AMA👋
Monty Metzger, CEO
Welcome LCX Community. My name is Monty Metzger, I am CEO & Founder of LCX.
I’m excited to be here today for this AMA session to answer any questions you might have about LCX, the future of tokenization, our crypto exchange, token sales, or anything else you’d like to discuss.
Community Host
Great, this is yet another AMA and thrilled to have you here👋
Monty Metzger, CEO
Today we want to focus on your community questions and will keep it more interactive. As the last AMA was 4 weeks ago, we first want to highlight the progress we made.
Community Host
For me not to waste our time, could you please share some insights into some developments that have occurred since the last time you were hosted here? The community would be glad to get some feedback from you.
Monty Metzger, CEO
Team is working hard to get things build and deployed.
Community Host
Let’s get started 🔥🔥🔥
Monty Metzger, CEO
At Plan B Forum in Switzerland (one of the largest Bitcoin conference in Europe) we announced Bitcoin Lightning integration!
Community Host
Interesting news ahead of bull market if I maybe right 🔥. The community was excited about it 👏
Monty Metzger, CEO
You can now deposit and withdraw BTC via lightning – super fast.
And you can use LCX Mobile for payments in stores. You can simple take out your LCX Mobile, scan the QR code and pay. E.g. you can pay at McDonalds and 100+ other stores in Lugano!
Community Host
Guys, be ready with your questions👏. We will entertain more questions today🔥
Monty Metzger, CEO
A lot of networking also – LCX was at CV Summit in Zug, Switzerland. We had a booth and our team on the ground. I was on stage and we shared many videos from my talk. We also hosted a private networking event. Several key new partnerships, new clients and other exciting things are in the making > and a direct result of the event.
Community Host
Great development 🔥
Monty Metzger, CEO
Last week I was invited to speak at Cardano Summit in Dubai. LCX was present and I spoke about the future of Tokenization. Ultimately LCX is leading the Tokenization space by focusing on some of the most exciting projects. More to come…
Community Host
Indeed, tokenization is the future of the blockchain ecosystem👏. Huge🔥
Monty Metzger, CEO
Oh. And we also had been at the Token Sumit in Liechtenstein. Biggest crypto event in Liechtenstein with the prime minister attending.
Community Host
Interesting 🙌
Monty Metzger, CEO
At all these events several of our business development and partnership managers had been on the ground.
Community Host
Awesome🔥
Monty Metzger, CEO
I can still remember, early last year – we did not even have a business development team and did not do much at any events. Personal networking with other blockchain projects is important for us. good results. and you will also notice this soon!
Then LCX was featured on TheBlock with an advertorial
Community Host
Going to be huge💯💯
Monty Metzger, CEO
The winner of the Next Crypto Gem Show was announced. Next Crypto Gem TV Show, is sponsored by LCX, is like shark tank for crypto. Vulcan Forged is the winner! Congrats!
https://twitter.com/lcx/status/1717963923322773596
But our passionate LCX community knows about all of this already. So let’s get into the details and all your questions. @king_LCX please open up!
Get ready to ask your questions!
Community Host
Are you guys ready with your questions?
Community
How well-known is LCX in Lichtenstein? And is there a marketing program coming to advertise further in Europe?
Monty Metzger, CEO
Everyone knows us. LCX just celebrated 5 years anniversary and we also had been in the local newspaper many times. LCX is also supporting local initiates and is a key partner at the startups coworking space Technohub. Yes – we do focus on whole Europe. Already did some smaller campaign but will do more! France, Germany, Austria and Nordics are important to us!
Community
Thanks Monty for the open discussion! Can you tell us more about the sale of LCX tokens? Are you short of money or are there other reasons?
Monty Metzger, CEO
You are welcome! Good to keep this more interactive.
LCX is very transparent in every aspect. Integrity is one of our key company values. We do have revenues and we had been growing organicly, also with good profits in the past years – where we also paid large amounts of taxes in the country. Due to our obligations for LCX Earn and our proof of reserve publications, full audits of LCX are online and public.
Nevertheless we are doubling down on MiCA and compliance. We plan to be among the first who apply and hopefully the first who get the MiCA licenses under the new European legal framework. Compliance and regulation is costly you can imagine, budgets for third party market making and marketing campaigns for growth are necessary. LCX is trading it’s own token from time to time – and we always made the disclosures. Buying, selling, but also in Liquidity providing where it makes sense.
Just recently we updated our policy on the LCX company reserve. We are chaning from a fixed to a flexible company reserve. Longterm we plan to double the company reserve and we will add more LCX token into the company reserve. Shortterm we are using assets to provide liquidty and growth. The details are made public beforehand. Here is the link
https://www.lcx.com/lcx-token-transparency-report/
Let me know if you have more questions around this.
Community
My question is about the limitations of tokenizing assets on the LCX Exchange or any other projects. Could LCX eventually tokenize real estate, stock bonds, and art?
Monty Metzger, CEO
There are no limitations. We can tokenize everything. We do see Tokenization split in several key opportunites.
Tokenization of money; stablecoins, digital money (eGeld) and CBDC central bank issues digital money.
Tokenization of financial instruments, bonds, treasury bonds, other yield earning products. LCX has launch 4 tokenized bonds already. The first Bitcoin demonated bond with fixed yield – endorsed by regulators and available in 30 countries.
Tokenization of Real Estate. Big markets, also with many players atm. Complex to do the right way. We are exploring opportunities and talking to many projects and founders in this space.
Tokenization of Commodities; Gold, Silver, Tin, Steal, Lithium or Diamonds. Diamonds we started with Tiamonds platform.
Tokenization of all things; things you can touch and store; such as Art, cars, collectibles, trading cards, watches, girls underwear (just joking) and many other things.
In general LCX has an unfair USP, as we are regulated Physcial Validator we are empowering this whole industry.
Community
Any plans for Tiamonds NFT in terms of a roadmap?
Monty Metzger, CEO
We focus on LCX here. But just quickly a highlight. Tiamonds just launched on Cardano and issued a first batch which was sold out within 24h.
Community
This is the most important question. Please provide an update on your partnerships with $LINK $HBAR $DAG $ CELO etc.. we have not had an update since 2021 and the community is worried these are no longer in existence. If you hadn’t plagiarized Gilbert Verdian, we would have never known Quant and LCX do not have an ongoing relationship. Please be transparent with your investors.
Monty Metzger, CEO
We are providing updates on partnerships continuesly and when things happen. E.g. Partnership with Cardano was most visible last week. $ADA 🤝 $LCX
Hedera is long term partner as well, and $HBAR and Hedera technology is fully integrated at LCX platform. Our teams just had another workshop, but it is too early to disclose details.
Btw, founder of CELO was a guest at our WEF Davos reception last January. At CELO the key topics are sustainability, such as tokenized carbon credits.
Please be patient with our partnerships. We are moving this forward!
Community
Any update regarding CC? What is the problem and when can we use more fiat ramps? PayPal, Stripe, Klarna etc
Monty Metzger, CEO
The traditional financial world is slow and complex. We are not happy with the current status and we want to offer many payment gateways !
As a result we started to integrate not one fiat gateway / bank partner, but many in parallel. We expect to share some good news with you before years end. From tech side, things are set up and in testing. But compliance is like watching a snake race. 🙈
Community
Monty that is not an update. You said the same thing about Quant a month before you were called out and we found out that you have been lying. LCX was not developing with QNT and you knew that the entire time. You still tried flaunting a fake relationship.
Monty Metzger, CEO
We are worried what’s going on at Quant. They went silent and do not get any response nor updates.
There had been a signed partnership agreement, LCX delivered on all our points but Quant postponed and postpones – and have not delivered anything until today.
I heard that the quant team even blocked some of our community members on twitter. stay safe!
Community
I heard @Eike1999 has mentioned that there is a lot more communication with the community within the test group and a lot more is being fixed and communicated back in the test group. Please keep this level of standard and the test group will be more active and has better process for fixing bugs and improvement. Please don’t let the team slip back into the mind set of being ignorant when feedback is required. We give feedback off in our own time and go over and beyond in giving this feedback for the success off the app and LCX.
Monty Metzger, CEO
Also – the community asked us to do more videos and more interactive live shows.
We will do some live youtube AMA’s again.
But today, I have something else to announce and share… in regards to youtube
Monty Metzger, CEO
Today we are announcing….
Community
🚀🚀🚀🚀🚀🚀🚀
Monty Metzger, CEO
Today we are announcing a new weekly youtube show. Here is the trailer
https://www.youtube.com/watch?v=dV2lcTKFHWQ
Community
Very nice
Monty Metzger, CEO
We plan to publish the show on Youtube and X (twitter) on a weekly basis. This will give the community a short format update on what is going on.
https://twitter.com/lcx/status/1722658643814863074
Community
Interesting 🔥
Community
With the start of the next bullrun not that far away how is LCX going to prepare its self for the exchange to be more usable in executing trades effectively, adding more tokens that the community would like to see and developing and delivering a competitive exchange that can compete with the best exchanges on the market?
Monty Metzger, CEO
Please share your suggestions. Liquidity is key, so if a token will bring strong liquidity it will be a plus in our evaluation.
Monty Metzger, CEO
thanks @king_LCX for hosting this. Please share our show trailer and tune in to our next LCX Insights show next week.
Community
The AMA session with Monty has finally come to an end.
We’re greatly astonished to have a well-articulated AMA session with the CEO
For more information and to be part of the project, you may visit the website: https://www.lcx.com/insights/
Monty Metzger, CEO
Thank you LCX community!
It’s Diwali weekend, Christmas is coming closer and it feels that you will have much more to celebrate! See you and talk to you soon again! Onwards and Upwards!
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.
