LCX Token Burn Q2 2020

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 fashion, 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.  Usage of LCX Terminal and LCX Smart Order had been growing. Furthermore the updated “Buy LCX” functionality is used frequently by our users. As a result we accumulated LCX Token as part of our revenues over time. 

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. Today we facilitated the next token burn for Q2 2020 where 1’411’400 LCX Token  or 0.15% of the total supply was burned. Until today, a total of 44’729’025 LCX Token had been burned.