LCX is an Ethereum token used to pay for fees on LCX Exchange, a centralized exchange for security tokens, token sales, and cryptocurrencies. LCX is also used to power other LCX products such as the LCX Terminal, which lets users trade across multiple exchanges, and the DeFi Terminal, which offers advanced charting and limit orders built on top of Uniswap.
What Is LCX (LCX)?
LCX (Liechtenstein Cryptoassets Exchange) is a regulated blockchain ecosystem offering a secure and technology-driven environment to trade crypto assets. The LCX platform focuses on the tokenization of assets and advanced trading tools. Moreover, LCX is also developing a blockchain infrastructure that works on bridging the fast-moving trusted technology landscape and the traditional monetary system.
Predominantly, the platform offers blockchain-related services, advanced trading software, and cryptocurrency exchange. LCX has introduced a comprehensive crypto compliance suite that facilitates quick and automated investor onboarding for private and public sales. The suite comprises KYC (know-your-customer), AML (anti-money-laundering), and blockchain analytics (KYT) processes. LCX is investing in building AML and KYC technology solutions at the institutional and consumer level, including on-chain analytics and surveillance for all crypto deposits and withdrawals.
As a fintech company, LCX is focused on facilitating both blockchain and traditional market participants to avail the opportunities arising from the growth of tokenized assets and cryptocurrencies. Furthermore, LCX is building a financial ecosystem for digital assets by offering the following products and services:
LCX Terminal: The terminal provides a digital desk for complete crypto asset trading across multiple platforms. Additionally, the terminal interfaces with cryptocurrency exchanges to unify the digital asset trading experience.
LCX Exchange: The LCX Exchange is a regulated trading venue offering a range of digital currencies and a marketplace for crypto asset and security token trading.
LCX Assets: The service offers asset management across the traditional currency and crypto assets alike and offers security token emissions.
LCX Vault: The vault offers custodian services of cryptocurrencies with multi-signature and programmable governance. Multi-signature arrangements (multi-sig) are a practice that requires different signatures or keys, rather than one signature, to authorize a transaction.
LCX Protocol: This is a decentralized protocol to standardize the way security tokens are issued and traded on blockchains. The LCX Protocol is also known as “The Liechtenstein Protocol.”
LCX Bank: This is a part of the platform’s long-term plan. LCX aims to become a “blockchain bank” with a full bank license focusing on corporate banking.
The LCX Token (LCX) is the fuel and utility token of the LCX.com blockchain platform and LCX Cryptocurrency Exchange. The token is an ERC20 token on Ethereum blockchain. LCX Token works as a long-term sustainable incentive mechanism to motivate various stakeholders to participate in the ecosystem. The token may be used to pay fees associated with the services offered by the platform.
Furthermore, users get a variety of benefits by purchasing the LCX Token:
LCX Exchange: At the exchange, users get a reduction of up to 50% on trading fees.
LCX DeFi Terminal: Users get full access, including usage of the platform’s second-layer DeFi protocol to enable limit orders on Uniswap. LCX DeFi Terminal is an advanced trading and completely decentralized platform in the DeFi space.
LCX Terminal: As a token holder, the user becomes a pro user and can pay monthly fees of LCX Terminal with LCX Token.
LCX Vault: With the token, the user can pay fees for LCX Vault and the platform’s crypto custody solutions.
LCX Price Oracle: As a price service provider, LCX provides regulated reference price services for which the user pays the fees.
Token Sales: With the token, the user pays fees concerning token sales hosted or powered by the platform.
Furthermore, the platform’s clients and companies will have the ability to pay fees for exchange membership, listings, or token sale fees with LCX tokens as well.
History of LCX (LCX)
Monty C. M. Metzger is the CEO, founder, and executive chairman of LCX. He is an internet veteran and the cofounder of Digital Leaders Ventures, an investor in tech companies.
LCX AG is the company behind LCX and is headquartered in Liechtenstein. On November 27, 2017, Metzger conceptualized the idea of LCX on a napkin. The platform claims that the LCX idea was born out of the frustration of the lack of solutions for professional investors. Therefore, LCX AG was founded in 2018 with headquarters in Vaduz, Liechtenstein, and branches in Zug, Switzerland, and New Delhi, India. The platform’s LCX token was generated on March 4, 2019, and the vision paper of LCX was launched in October 2019.
Notably, LCX has been named Blockchain Pioneer by the Blockchain Research Institute and is a member of the World Economic Forum C4IR.
How Many LCX Tokens (LCX) Are There?
LCX token is a fungible utility token with a fixed maximum token supply of 950 million.