In accordance with our published token economics, LCX will burn 100% of all LCX Tokens used to pay for fees within LCX’s ecosystem. We want to ensure that all token burn activities are carried out in an open and transparent manner, that’s why we are upcoming you today.
At the moment LCX receives fees for the monthly or annual subscription for Pro accounts at LCX Terminal and for withdrawal fees at LCX Accounts. Furthermore LCX will earn fees as part of the upcoming security token offerings facilitated via the LCX STO Launchpad.
LCX executes token burns each quarter in accordance to the announced token metrics.
- The first token burn was executed on December 11th 2019, where a total of 42’331’625 LCX Token or 4.23% of the total supply was burned.
- The second Token was facilitated on April 2nd 2020 where a total of 986’000 LCX Token or 0.103% of the total supply was burned.
- The first token burn for Q2 2020 where a total of 1’411’400 LCX Token or 0.15% of the total supply was burned.
- Today we facilitated the next token burn for Q3 2020 where 2’105’200 LCX Token or 0.22% of the total supply was burned. Until today, a total of 46’834’225 LCX Token had been burned.
Overview LCX Token (October 6th 2020):
Token Burn: 2’105’200 LCX Token (0.22%)
New Total Supply: 953’165’775 LCX Token
Updated Circulated Supply: 548’257’914 LCX Token (57.5%)
The LCX Token burn record is public on the blockchain.
Transaction id:
https://etherscan.io/tx/0x562512f3f4b8ba829e72c0b0db389785c1a9e935d303881d40a31114a49cb8c7
You can also see the reduced total supply at Etherscan:
https://etherscan.io/token/0x037a54aab062628c9bbae1fdb1583c195585fe41
