Liechtenstein CryptoAssets Exchange - $LCX, Asset Review
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Liechtenstein Cryptoassets Exchange(LCX) is an exchange that aims to Tokenize the future. LCX has a range of products to make Tokenizing the future easy like Price Oracles, Launchpads, Token offerings and so much more. LCX also has strategic partnerships that will help shape the future of how they will disrupt the future of finance according to Prince Michael of LCX. Let’s cut the fluff and jump right into what LCX is doing.
General Information-What is LCX
LCX Background
LCX Funding/Collaboration
Token Information-Tokenomics
Vesting Schedule
Additional Information-
LCX Products
Technical Analysis
Conclusion
General Information-
1. What is LCX
LCX stands for Liechtenstein Cryptoassets Exchange. $LCX is also a token; for this article's sake, I will add the “$” sign when referring to it. LCX is a regulated trading venue that gives access to many cryptocurrencies. LCX offers a range of sophisticated products like LCX Terminal, LCX Defi Terminal, and other compliant products. LCX also assists clients with compliant security token offerings for their digital assets. LCX bridges the gap from financial markets and institutions to the blockchain and the crypto world. LCX emphasizes that they work with regulators, ensuring their clients are compliant working with LCX.
2. LCX Background
LCX AG is the legal entity name for the company behind the exchange. LCX AG is a project based out of Vaduz, Liechtenstein and is founded by Monty Metzger. Monty Metzger is a Harvard Graduation who has a background in financial markets. He is also a member of the World Economic Forum, Founder of Digital Leaders, and founder of LCX. Monty saw that many financial institutions were trying to participate in crypto but couldn’t due to regulation. This is why LCX is gained regulatory approval in 8 registrations to put forward the LCX ecosystem.
3. LCX Funding/Collaboration
LCX AG has been through seed rounds and initial coin offerings($LCX). LCX AG has raised $8.5M in funding since 2019 according to Crunchbase. LCX currently has a handful of strategic partners but the most interesting one is Quant for DLT interoperability. Quant aims to bridge the gap for interoperability between financial institutions and crypto similarly to LCX. Monty believes that partnering with Quant will allow for the growth of LCX and the industry as a whole. Being a part of Quant’s overledger will bring more visibility to LCX, hence a win-win situation for both networks. Additionally, LCX has strategic advisors like Jimmy Wales(founder of Wikipedia), Yat Sui(founder of Animoca), and potentially Brian Armstrong(CEO of Coinbase). Currently, on the about page there is a blurred-out photo that appears to be Brian Armstrong that many speculate, however in due time it will be revealed.
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Token Information-
1. Tokenomics
$LCX is an ERC-20 token that is used on the Ethereum network. Currently, the total supply of $LCX is 561,782,428 with a circulating supply of 950,000,000. $LCX is used to pay all fees associated with using the tools provided by LCX AG. $LCX may also be used for other things on the platform like subscriptions, custodian fees, processing fees, and other things associated with the LCX ecosystem. $LCX has also conducted 5 token burns from 2019 and 2020, burning a total of 50M tokens. At the time of writing, around 13% of the supply is held by the top 5 wallets.
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2. Vesting Schedule
The $LCX token was created in March of 2019 with a total of 1 billion tokens. The LCX company reserve has a lock-up period of 3 years until June 1st, 2023. The LCX team and advisors tokens are vested over 36 months every month accordingly. LCX doesn’t share details about the initial breakdown of their tokenomics except what was shared. This causes a little concern because they aim to be regulated and transparent but don’t share exactly how their tokens were distributed.
Additional Information-
1. LCX Products
LCX has a range of products and services that aim to help build out the new financial system. In the graphic below you will be able to see 6 products that LCX offers that will help them aim to become category leaders. All products and services revolve around the $LCX token and can be found by clicking this blue sentence accordingly.
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2. Technical Analysis
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$LCX has had an amazing run from $.018 to $.53 yielding ~28x returns. Ever since $LCX hit all-time-highs, we have seen the price fall towards a high time frame demand zone (purple box) which should act as a support region then the next purple if the first box is broken. Price is currently consolidating in the purple box before it makes a new move. While these purple boxes are not guaranteed to hold, having a little* exposure is not a bad idea. The way the correction subdivides will give hints on how the next move plays out. Bottom structures typically take a long time to form and reverse when the bears are exhausted, so it's best to stay patient for a clear pattern. All in all, the price action of this chart is very bullish over the long term, and holding the support will be crucial.
Conclusion-
LCX is definitely in its early phases in my personal opinion and has a lot of work to do. But what they have accomplished is still quite impressive and very well thought out. LCX’s whitepaper was informative and specific which made me bullish on what's to come in the years. LCX is trying its best to work with regulators, they comply with 8 different jurisdictions and have a focused mission. Being that LCX also has a strong set of advisors and teams, I believe they will be successful in the years to come. Lastly, while I am excited to watch what Liechtenstein Cryptoassets Exchange will do next, it is important to note that I believe the network will grow, it isn’t correlated to the value of the $LCX token.