Recap of LCX’s AMA with Monty, CEO & Founder of LCX.com

This is a summary of the live Ask Me Anything (AMA) session with the CEO and Founder of LCX.com, Monty C. M. Metzger (@montymetzger), held at LCX’s official  Telegram community channel on January 14, 2021. Moderated by community moderator “King”. Answering the burning questions of the $LCX community.

Community Host:
Hello everybody! Dear LCX.com community members. 

I’m greatly honored to welcome the CEO of LCX.COM Monty Metzger.

Monty Metzger:
We are thrilled to interact with you and we welcome you to our AMA at our official telegram channel. You can invite friends and colleagues by sharing this link https://t.me/joinLCX. 

We asked you to post your questions on twitter. Now we reviewed all your questions and saw certain questions being asked repeatedly. To make the most out of this opportunity, we want to address the most important questions in the first segment of this AMA.

So let’s begin.

Community Host:
What is LCX? Can you give us an overview of LCX?

Monty Metzeger, CEO:
LCX.com, the Liechtenstein Cryptoassets Exchange, is a fast growing fintech company.LCX is headquartered in Vaduz (Liechtenstein) in the heart of Europe, with offices in Crypto-Valley Zug (Switzerland) and New Delhi (India).

Check out www.LCX.com to learn more. Register or Login at accounts to get started https://accounts.LCX.com/.  

Community Host:
Great!

What was the inspiration for founding LCX?

Monty Metzger:
I started my first company in 1998 when I was still at school in Germany. Since then I have found several businesses, exited a company in 2008 and turned to become an investor.

I ran my own venture capital fund and started to invest in Bitcoin in 2013.

I realized that Blockchain and Cryptocurrencies are like the introduction of Email back in the 90ies. But to reach mass-adoption and to create relevance in financial markets (at least 100 times bigger than the current cryptocurrency market cap), there are several barriers we have to overcome.

Most importantly, global growth will only be possible if we combine the benefits of compliance and regulation with the innovation of crypto.

So here we are, building the infrastructure for the next growth wave of the crypto industry in teamwork with the best and smartest community out there. You!

Community Host:
Interesting!

To the next question.

What is the greater vision for LCX.com?

Monty Metzger, CEO:
LCX is on a mission to redefine finance as we know it and to democratize financial services and bridge the gap between the traditional banking world and the new crypto-industry.

Similar to Coinbase and Kraken, we have invested heavily in compliance and regulatory structures to ensure our users have a safe, secure and reliable environment to buy, trade and manage their digital assets. Our LCX crypto compliance suite has been built from the ground up and sets new standards in the industry.

To be more specific, LCX will be one of the top 10 companies globally in the crypto industry. Our utility token $LCX Token will be at the core of this development and is the fuel for our ecosystem.

Non-compliant exchanges and platforms will turn into niche markets or close down. We work with financial institutions, regulators and asset managers to use the power of crypto to increase efficiency in financial markets and to establish this new asset class. 

Community Host:
Awesome!

What regulatory approvals did LCX get from FMA?

Monty Metzger, CEO:
We always had been operating our business in a fully compliant manner.

In 2018 LCX AG was granted a Business License of the Liechtenstein Ministry of Economic Affairs to conduct its business in Liechtenstein (Gewerbebewilligung).

Recently, on December 30th 2020 LCX AG gained regulatory approval by the Financial Market Authority Liechtenstein for the following 8 roles (out of 11 possible) in accordance with the Liechtenstein Blockchain Laws. LCX’s Registration Nr. 288159.

We have received the approval of the following registrations:

• TT Exchange Service Provider
• TT Token Depositary
• TT Key Depositary
• TT Price Service Provider
• TT Identity Service Providers
• Token Generator
• Token Issuer on its own
• Token Issuer on behalf of the clients

Btw, TT stands for Trusted Technology. And LCX is now an official Trusted Technology Service Provider.

Community Host:

Thanks for the insight.

What are the new possibilities for LCX after obtaining 8 registrations by the FMA?

Monty Metzger, CEO:
The main benefit of the blockchain registrations and regulatory approval by the financial market authority of Liechtenstein is for you: protecting investors, users and market participants.

Although it says that it’s a light-weight legal framework, getting the approval by the regulator is tough and needs a lot of work and investment. We prepared a long list of policy and compliance documents with our internal legal team and external advisors, we developed a natively integrated crypto compliance suite and we enhanced our core tech stack.

Business-wise there are now many opportunities which will drive usage of $LCX Token, growth of our user base and steady revenue growth for LCX.com

Let me explain.

Every registered blockchain company in Liechtenstein so called “TT service providers” are subject to the same supervision standard and compliance KYC and AML rules like any bank or financial institution.

LCX and other blockchain companies have to comply with due diligence rules and are subject to regular supervision to combat money laundering, organised crime, and terrorist financing.

For almost 2 years we have been operating our Advanced Trading Tools for Portfolio Management and Smart Trade Execution. All of these software products comply with the same supervision standard and compliance KYC and AML rules like any bank or financial institution.

The first product was LCX Terminal:

LCX Terminals is A Multi-Exchange Crypto Trading Platform to trade on all major crypto exchanges within a single interface. Smart trading tools and social signals for crypto traders to maximize profits across multiple exchanges. https://terminal.lcx.com/

Last year we then launched LCX DeFi Terminal: LCX DeFi Terminal a.k.a. Project “Fire Salamander” is a decentralized trading platform built on top of Uniswap. LCX has built a second layer protocol which is enabling limit orders on Uniswap DEX. http://defi.lcx.com/

Now coming to the blockchain registrations and legal roles – and other cool things we can do now.

TT Exchange Service Provider: This is important for our crypto exchange

LCX Exchange: A secure and compliant trading platform for a variety of digital assets. http://exchange.lcx.com/. 

Btw, for listings inquiries please contact us at [email protected]. 

TT Token Depositary and TT Key Depositary means that we are allowed to provide crypto custody like Coinbase Custody or BitGo.

TT Price Service Provider means that we are offering paid pricing services, API’s and data sets. We do this with our AI powered price oracles called reference price services.

TT Identity Service Providers that’s our investor verification and user on-boarding suite made for our platform, but now also used for our compliant token sales.

Token Generator means that we can provide smart contract development for projects. We did this for RVW Token already and we will continue offering this service.

I don’t know any other smart contract developer who is regulated, do you?

And the most relevant one.

Token Issuer on behalf of the clients, this means that we can issue tokens for projects in a fully compliant manner.

Even if the project is based in Singapore, Netherlands or USA – we can issue the token for them combining our legal tool kit, regulatory setup and our token sale manager technology platform.

To sum up

New Regulated Service as Trusted Service Provider in accordance with Liechtenstein Blockchain Laws – will be

• LCX Token Sale Platform:

Everything you need to plan, manage, and track your token sale of non-security tokens. Crypto compliance suite for KYC-AML, investor verification, token holder registry and more. LCX acts as regulated and registered Token Issuer on behalf of blockchain projects, Identity Service Provider, Token Generator, TT Token Depositary and TT Key Depositary. After closing the token sale we may list your token at LCX Exchange.

For Token Sale for utility tokens inquiries please contact us at [email protected].

• LCX STO Launchpad:

LCX STO Launchpad is an end to end tokenization platform that combines technology solutions with pivotal compliance and legal aspects. We provide everything to facilitate the launch of your security token project in a compliant manner – combining our legal tool set with our technology solution.

For security token sale inquiries please contact us at [email protected]

• LCX Reference Price Services:

We will be expanding our LCX Reference Point Services. The LCX Cryptocurrency Reference Price Service provides a credible reference price to the marketplace and enhances market participants’ risk management of digital assets. LCX is providing this service as a regulated and registered Price Service Provider.

Community Host:
Thanks for the insight. This is really incredible.

To the next question!

Why should new investors enter the LCX ecosystem? Give 3 key-points to invest in LCX in the long-term?

Monty Metzger, CEO:
The LCX Token is a utility Token which may be used to pay all fees associated with the services offered by LCX AG.

The LCX Token can be used as a voucher to pay fees, such as fees for LCX Terminal subscription; fees for custodian solutions LCX Vault; fees for exchange transactions for all crypto assets; exchange fees for fiat-crypto-fiat transactions; processing fees; and other fees within the LCX ecosystem.

3 reasons.

1) LCX.com is a fast growing fintech company. Trustworthy. Great team and advisors.

We have real offices and an address where you can send us postcards. Not many blockchain companies have that. 😉

2) LCX will be one of the top 10 crypto-companies. We achieve this by combining regulatory standards with innovative technology.

3) Our community is the most loyal and reliable. You are the best!

Community Host:
What is LCX Exchange?

Monty Metzger, CEO:
LCX Exchange is a new generation of cryptocurrency exchange.

The LCX Exchange is a regulated trading venue offering a range of digital currencies.

The crypto assets trading platform has been built from the ground up, leveraging the proficiency of our progressive crypto portfolio desk, LCX Terminal, LCX DeFi Terminal and our sophisticated crypto compliance suite.

We started with a few trading pairs, but we will now start our growth strategy.

We aim to list a variety of new assets and will announce a Venture Program soon. This will enable blockchain projects to kick-start their token sale and get listed.

At the same time we will scale liquidity with key partners. First goal is $1 Million daily trading volume and key second milestone for 2021 is $10M trading volume daily.

With 8 registrations under its wings, it is the first cryptocurrency platform to achieve an important regulatory milestone in Liechtenstein. The registrations allow LCX.com to offer the broadest scope of blockchain services. Learn more about the exchange here: https://exchange.lcx.com/

Community Host:
Great

Tell us about the last token burn of LCX Token?

Monty Metzger, CEO:
Since 2019 LCX has burned 100% of all LCX Tokens used to pay for fees within LCX’s ecosystem. LCX conducted 5 token burns, burning a total of 50 million LCX Token with a current estimated value of more than $1 million USD.

In the last token burn LCX burned 3’165’775 LCX Token, this is the highest-ever amount burned.

Total Supply is now 950’000’000 $LCX. 

Also visible here https://etherscan.io/token/0x037a54aab062628c9bbae1fdb1583c195585fe41

Community Host:
Beautiful

To the next available question.

What are the reasons and strategic advantages for changing  the LCX Token economics?

Monty Metzger, CEO:
We want to grow. We did these changes because they were blocking the growth of our ecosystem.

We watched closely how other ecosystems grew. We learned from our strategic partners like ICON or Chainlink.

I think Chainlink did well and we want to replicate that growth.

We stopped the token burn to lock-in a fixed total supply and at the same time rapidly increased the usage of the token.

The majority of $LCX is owned by the community now.

Another reason is the Global Growth and Market Expansion: As we enter new markets, register for additional licenses, list on other compliant exchanges and partner with other regulated platforms, we want to ensure that our token economics are supporting this growth.

Community Host:
What are the reasons and strategic advantages for ending min. utility value?

Monty Metzger, CEO:
Yes, important!

That’s simple.

$LCX token will be used more often. Projects will pay their listing fees, tokenization fee’s or token generator fee’s with $LCX. Also LCX Terminal will be updated. It costs $290 at 0.1 min utility value this was 2’900 $LCX

When I look at Coingecko now and re-calculate https://www.coingecko.com/en/coins/lcx the fee of $290 will be approximately 132’166 $LCX now.

Let’s say we charge $15’000 for the smart contract development of a token. That would be 683’620 $LCX. And lastly if we do host token sales projects there will be a transaction fee for each sale.This can range between 0.5 – 3% or more, depending on the sale. Plus a success fee.

You can do the math.

So – now let’s open up – I want to hear your questions.

Community Host:
Thanks for the beautiful and insightful information you shared with us. This is awesome.

The next segment is allowing our esteemed community members to push forward their queries.

We will open the chat to entertain your questions. Apparently, all questions can not be answered but the CEO will do his best to answer as many as possible.

Thanks for your support!!

I hope you’re ready guys as we are about to open the chat to welcome your queries?

Danny M, Community Member
What will LCX do with all the LCX fee’s gathered from listings etc.?

Monty Metzger, CEO:
This will be added to our company reserve, partly used for market making and partly used to cover operational costs. We want a healthy and thriving ecosystem for our LCX community and our utility token.

CryptoCat_18, Community Member:
Is there a plan to introduce stacking of $LCX???

Monty Metzger, CEO:
We are evaluating and preparing concepts for the regulator. Stay tuned.

Vantalin, Community Member
As a community based project, how can I donate my quota for your success? Do you have a Global Ambassador Program or a Referral Rewards System?

Monty Metzger, CEO:
That’s fantastic. We need your support to grow. We need ambassadors and representatives all over the world. Experts who can select the best new listing. Recommend projects who want to do token sales for utility tokens or security tokens in a fully compliant manner. Ambassadors to help us grow in the USA, Asia and other jurisdictions.

For example most of our content is not yet available in Chinese, Japanese or Korean. Translating summaries would be a big help!

Santung, Community Member

Which one of these aspects is important for you?

1-Increasing Token Price & Value

2-Empowering Platform Development

3-Building Community Trust

4-Expanding Partnership Globally

In what order?

Monty Metzger, CEO:
All of it! We want a healthy ecosystem – the $LCX is the centerpiece of it and will power all of our products.

Kuzuman, Community Member
While fundamentally sound, all good projects in the crypto space benefit greatly from advertisement, of which LCX hasn’t seen a lot. Any plans to focus some efforts on making the masses more familiar with LCX?

Monty Metzger, CEO:
Advertising is short term thinking. Brand building is important to us. We think long-term and build value. Tesla did not spend any money in Ads in the first few years. We invest in our clients, in our platform and customer satisfaction. Traction and revenues are more important, than a high ad-spending burn-rate.

For example, we achieve massive growth with DeFi Terminal with word-of-mouth and a fantastic product.

If you look at the Total Value Locked at our Defi protocol, we have more than $82k in open limit orders. These are values of open limit orders, to be executed soon on Uniswap. At the start we had $1-5k. This is just a snapshot, and doesn’t show the total trading volume at our DeFi Terminal but it gives you an indication.

By the way, I hope you all use DeFi Terminal frequently. So simple to use, fast markets pages and the best way to track $LCX tokens on Uniswap https://defi.lcx.com/pair/LCX_ETH. 

If you want to buy $LCX token we offer the opportunity to buy directly at our platform https://accounts.lcx.com/buy_lcx and trade $LCX at our exchange https://exchange.lcx.com/trade/LCX_ETH.

Username, Community Member
If anybody thinks your project really likes a scam project and they can not trust this project. How do you make them believe in your project?

Monty Metzger, CEO:
Continuity. Persistence. Keep on delivering. 

You know, we have a very swiss-german mentality…. We always under-promise and over-deliver.

MrS, Community Member
Any information related to listings?

Monty Metzger, CEO:
We can’t share details about upcoming listings.. Many blockchain projects want to get listed at a regulated cryptocurrency exchange like us. We will start listing new digital assets at LCX Exchange soon. Growth!

J, Community Member
Any plans on becoming a leading exchange? 

Monty Metzger, CEO:
Yes, we plan to become one of the top 10 compliant exchanges ASAP.

Totto, Community Member
Who is the confidential advisor? When do you plan on letting the public know?

Monty Metzger, CEO:
We have many highly experienced advisors such as Don Tascott or Jimmy Wales, but we also have several advisors whom we are not allowed to mention in public.

G D, Community Member
The start of the exchange and the communication were not the best to be honest. What do you plan to do to improve this? Any restructuring of management positions or new positions who would prevent this in the future?

Monty Metzger, CEO:
We could have done better. We are learning every day. And we will improve – quickly!
We also had been overwhelmed. Thousands of new user sign-ups. Servers at high capacity.

As always, we do not promise anything we can’t achieve. 

Let me refer to our company value.

LCX’s company culture and company values reflect the need for a customer centric approach, the ability to adapt to market or technology changes quickly and the ambition to build something outstanding.

Customer Focus. First.

Learn. Be Curious.

Reflect. Deliver Results.

Simplify. Take Action.

F*ck Average. Be Legendary.

I published a company vision back in 2019. https://www.lcx.com/the-vision-of-lcx-montys-company-update/ .

We started to hire new people in Q3-2020 and have now increased the pace. Currently there are more than 25 open positions.

After we have gained the crypto-registration by the regulator, we will speed up and start to grow rapidly. No time to waste.

Look at the growth of $LCX community and platform in 2020. This was just the beginning.

CryptoCat_18, Community Member
Is Coinbase listing real? 

Monty Metzger, CEO:
We can’t comment on this. 

Dcln, Community Member
When is LCX going to get more trading pairs?

Monty Metzger, CEO:
We will increase liquidity and usage now and then roll out more pairs. We are aiming at tokens with strong communities and trading volume.

Big Boss, Community Member
Customer service is slow. Will this pick up?

Monty Metzger, CEO:
Yes, Customers are our key focus. We care about you. Our customer success team is growing and we will be able to respond within minutes.

Zultan, Community Member 
When can we see more STO roll outs?

Monty Metzger, CEO:
The Movie Security Token Sale is still open and on-going. We will be rolling-out several high-profile STO’s for our clients and partners – more infos will follow. 2021 will be epic!

SHREDBO, Community Member
Hey Monty, so you let all clients buy the fees LCX directly from exchanges at actual price? And no fees in usd or Euro?

Monty Metzger, CEO:
Yes, the purchase and trading is possible at LCX.com directly. It happens in a simple and easy process.

Pablo, Community member
What does Jimmy Wales exactly offer to the LCX project, other than hinting at a possible Wikipedia STO?

Monty Metzger, CEO:
I have regular update calls with Jimmy – similar to all other advisors. He is the master of “citizen journalism” and the community whisperer. He knows how to build the most visited website without spending any Advertising dollars.

Besides that Jimmy is owner and investor in several other big and exciting companies where we are discussing synergies and collaboration.

Felix, Community Member
Any new partnerships coming up?

Monty Metzger, CEO:
Yes. Stay tuned

Denis C, Community Member
Besides Gaming and Movies – in which STO categories you are looking to go in? What about real estate and patents?

Monty Metzger, CEO:
We can do anything. But we will pick the most successful areas. We are evaluating Diamond Tokenization, Paintings (like Picasso’s), but also Patents are interesting. 

But another super interesting business will be to host compliant token sales for non-security and utility Tokens.

This is massive business and we can leverage our regulated “Token Issuer” role as well.

LCX‘s Token Sale Platform: Everything you need to plan, manage, and track your token sale of non-security tokens. Crypto compliance suite for KYC-AML, investor verification, token holder registry and more. LCX acts as regulated and registered Token Issuer on behalf of blockchain projects, Identity Service Provider, Token Generator, TT Token Depositary and TT Key Depositary. After closing the token sale we may list your token at LCX Exchange.

For Token Sale for utility tokens inquiries please contact us at [email protected]. 

These tokens sales will be directly at LCX.com and all registered LCX’s users will be able to purchase them immediately.

Similar to Coinlist or Tokensoft, but fully compliant and with our much more advanced technology platform.

Julian, Community Member
Will the max supply of LCX ever be increased?

Monty Metzger, CEO:
No, Check our smart contract. Not possible. 

Cryptoberg, Community Member
Will it be possible to deposit fiat directly to LCX?

Monty Metzger, CEO:
It’s coming soon. 

Community Host:
The AMA session with the CEO has finally come to an end.

We’re greatly astonished having a well-articulated AMA session with convincing inputs with Monty. 

Also, we are incredibly excited with the teaming support and enthusiasm shown towards the course of the AMA session with Monty by all our esteemed community members. 

For more information and to be part of the project if you’re just joining us, you may read more here LCX.COM and also join all our SMS.

Thanks for your support!!!

Monty Metzger, CEO:
Thank you all.

You are amazing!