LCX Token – Company Reserve

by LCX Team

June 10, 2020

Deep-Cold Storage for LCX’s company reserve of 100 Million LCX Token. Fixed lockup until 1st of June 2023.

LCX today announced a major security update for its company reserve of 100 million LCX Token as well as a fixed lockup until 1st of June 2023. The company also publishes details about their crypto custody solutions, called LCX Vault.

New LCX Company Reserve Wallet Address 0xc90970DD648415756681163F69Eaeb7EB9c28A9C

LCX Vault is multi-category custody solution for digital assets in accordance with the Liechtenstein blockchain laws. LCX Vault offers three main categories of asset protection:

1) Decentralized Self-Custody: providing clients full control of their digital assets via hardware wallet integration and partner wallet solutions.

2) Hybrid Custody: seamlessly integrated digital asset protection at the LCX platform, enabling clients to securely perform transactions while maintaining flexibility, speed and convenience.

3) Cold Storage: Institutional grade cryptocurrency custody, audited, insured and at highest physical security standards.

Certificate Of Asset Protection

Scan of the Certificate of Asset Protection with authorized signatures, signed by the board of LCX AG. LCX Vault deep cold storage for digital assets and cryptocurrencies.

This is to certify that LCX declares that the company reserve of 100’000’000 LCX Token will be locked up and stored in an insured high security cold storage facility.

LCX declares that the company reserve of LCX Token will be stored in this cold storage facility until at least 1st of June 2023.

LCX Vault: cold storage for crypto assets.

LCX provides institutional-grade custody for cryptocurrencies and digital assets. LCX has developed a proprietary bank-graded cold storage solution applying the highest standards of cryptographic and physical security.

LCX Vault is a deep cold storage solution to store digital assets offline in order to keep them safe and inaccessible. The LCX Vault is based at a high-security secret building in the Principality of Liechtenstein. Swiss security experts created this physical security building to guarantee the highest standard in protection.

LCX Vault features:

8 eyes authentication principle
bank-grade physical security factors, while the storage is outside the banking system
24/7 guards
concrete-reinforced blast doors
split key storage
Jurisdiction with high degree of political continuity
Stable social and economic order
Legal certainty for crypto assets due to the blockchain legislation
Investor protection and enforceable rights for toke holders

LCX Vault Decentralized Self-Custody and LCX Vault Cold Storage are currently exclusively used for LCX own assets, but will be made available for all users (retail, institutional and professional clients) in the second half of 2020. Once launched LCX’s cold storage solution will offer complete control and flexible access using an audited and fully insured multi-signing security process.

TT Token Depository in accordance to the Liechtenstein Blockchain Laws.

Since January 1st 2020 the Liechtenstein Blockchain Act aka. the Token and Trusted Technology Service Provider Act (TVTG) came into effect. This legal framework provides the world’s first holistic approach to the token economy enabling a new degree of investor protection for this new asset class. A key element of the law are regulated and compliant custody solutions for cryptocurrencies, tokens and all forms of digital assets. These roles are called Trusted Technology (TT) Key Depositaries and Trusted Technology (TT) Token Depositaries.

Definition of TT Key Depositaries and TT Token Depositaries: Companies who safeguard tokens or private keys for third parties, e.g. in a safe or a collective wallet. This also includes the execution of transactions for third parties. These services are typically provided by crypto exchanges or wallet providers.

Service providers who act as Trusted Technology (TT) Key Depositaries or Trusted Technology (TT) Token Depositaries are subject to the Due Diligence Act (DDA) and FATF standards and money laundering supervision.