LCX Token Burn Q3 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 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. 

1. 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.
2. 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.
3. 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.
4. 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.