Tokenize Everything! (Stocks, Real Estate and all kind of Assets)-LCX- Bounty Program (10k Euro)
LCX stands for “Liechtenstein Cryptoassets Exchange” with a head office in Liechtenstein. The company aims to become one of the first fully regulated and licensed blockchain companies, targeting mainly large investors and traders.
Meeting regulatory requirements will lay a path for future blockchain companies and provide long-term confidence and security for investors. Although cryptocurrencies and blockchain are an ever-growing economic sector, states and governments face a major problem; regulating such cryptoassets. A cross-state system with a wide variety of applications, whose classifications are not entirely clear-cut and transparent, is difficult to define and regulate.
What is the difference between a “currency”, a “security token” or even a “utility token” and how can something like this be universally defined and regulated across states? The government of Liechtenstein has addressed this question and passed the “Token and VT Service Provider Act” a.k.a. the “Blockchain Act” on 01.01.2020. This makes Liechtenstein one of the pioneers in the field of regulations of cryptocurrencies and defining “tokens”. Here is an excerpt from the “Blockchain Act”:
“Art. 1
Subject matter and purpose
1.) This Act establishes the legal framework for transaction systems based on trusted technologies and regulates in particular:
(a) the civil law basis in relation to tokens, the representation of rights by means of tokens, as well as their transfer;
b) the supervision and the rights and obligations of VT service providers.
2.) It aims to:
(a) to ensure trust in digital legal transactions, especially in the financial and economic sectors, as well as to protect users on VT systems;
(b) to create optimal, innovation-friendly and technology-neutral framework conditions for the provision of services on VT systems.”
(An article on the Blockchain Act can be found here).
The innovative and progressive legislation is reason for Monty Metzger, the CEO of LCX, to apply for the main office in Liechtenstein. This provides a safe and legal way for large investors to dedicate themselves to blockchain technologies and their applications.
LCX operates a wide variety of services, which include:
1.) Tokenization: Tokenization is a digital representation of assets including their rights and obligations and its transferability. This blockchain application offers many new opportunities to economically participate in values that did not exist before. Thus, illiquid values, such as the production of films, investing in real estate or even investing in individual objects, become liquid values. Here, LCX follows the slogan “Tokenization of Everything”-the tokenization of everything. Within this framework, they already have tokenized the shareholdership of a movie, as the first company ever , whose profits are paid back in form of interest. This is the movie “Roe V Wade” with the corresponding security token “RVW”. The RVW is available for purchase through the LCX Launchpad. Another known tokenization of a movie production is in cooperation with Wesley Snipes. This is a film production with a total value of 25 million USD in which Wesley Snipes is involved as a producer or actor. This could spark a lot of interest among established Snipes and Blade fans and be a starting point for tokenization and the resulting investment in movies. Here you can find an article about tokenizing movies.
2.) A cryptoasset exchange: LCX offers a fully regulated and licensed cryptoexchange for professional traders, on which utility and security tokens can be traded in the future. Liechtenstein law ensures the highest level of security for users. The exchange will go live on January 5, 2021.
3.) A DeFi terminal with limit order on Uniswap a.k.a. “Fire Salamander”: The field of “Decentralized Finance” (short: DeFi) became very popular this year, so did decentralized exchanges like Uniswap. Since it is only possible to place a market order on Uniswap, the LCX team decided to create a DeFi terminal on Uniswap that can be used to place a limit order on Uniswap. This DeFi terminal a.k.a. “Fire Salamander” is a second layer protocol and can be used by anyone without KYC. All you have to do is hold 10,000 LCX tokens (currently: 95 euros) in your wallet to be used. If you no longer want to use the protocol, you can sell the LCX tokens again.
4.) A trading terminal: The “LCX Trading Terminal” is a trading interface where you can control up to 16 different crypto exchanges with only one interface. These include Binance, Huobi Global, Bitfinex, Coinbase Pro or KuCoin. The advantage is the “Smart Order”, an order execution where the order is automatically executed on the exchange that fits best in terms of price. For example, if you want to buy Bitcoin, they are automatically purchased on the exchange where the price is the most favorable. But beware: The necessary values must already be available on the respective exchange! The function that 1.) no registration is required at the up to 16 different exchanges and 2.) these exchanges can be accessed with only one wallet, which means that the values do not have to be on the respective exchange on which you want to trade, is to come with the Smartorder 2.0. This function is subject to legal and technical hurdles. We will have to wait a little longer for this function.
Another exclusive feature is the cooperation with Lunacrush with which you can display movements in the social media completely free of charge in the trading terminal. This is a simple way to demonstrate how individual cryptoassets react to various messages in the social media.
The LCX token plays a role in each of these products. The LCX token is a utility token that can be used for any kind of fees in the LCX ecosystem. For example, it can be used to cover fees when participating in STOs, when paying trading terminal fees, when paying fees in the upcoming exchange or for access in the DeFi terminal.
Currently there is a bounty program, where you can win up to 100 000 LCX by completing simple tasks. This corresponds to an approximate value of 900€. Click here to get to the program.
