Galileo Protocol chooses LCX for the LEOX Token Sale leveraging LCX’s regulatory approvals and LCX’s compliant blockchain platform. This is the beginning of LCX and Galileo Protocol’s strategic alliance and partnership.
Galileo Protocol is developing on Quant’s Overledger Network and LEOX token is using the QRC-20 secure smart contract capabilities. QRC-20 secure smart contracts have significant advantages over an ad hoc approach, including ease of deployment and interoperability.
“LCX has consistently prioritized regulatory compliance at a time when the crypto industry is moving into the mainstream. We like their approach and feel they set a good standard for the Galileo Protocol” – Team Galileo.
“Galileo Protocol is a new web3 marketplace protocol designed for safely and efficiently trading PNFTs. We’re excited about this partnership to issue $LEOX tokens. $LEOX is a QRC-20 utility token issued on a multichain protocol. I have thoroughly gone through its benefits and believe that Quant Network level security is good for safeguarding your wallet, tokens, non-fungible tokens, and transactions.” said LCX’s CEO Monty Metzger.
Another promising new token is being exclusively launched at the LCX token sale launchpad.
The $LEOX token sale will be managed by LCX’s Token Sale Manager, which will include knowing your customer (KYC), anti-money laundering in accordance with investor onboarding, and blockchain analytics (KYT) standards. LCX’s comprehensive token sale manager and crypto compliance suite enable Galileo Protocol to manage the $LEOX token sale compliantly. LCX is handling Galileo Protocol’s private and public sale rounds.
LCX will manage the legal factors and register $LEOX’s sale with the regulator as the official token issuer. In conformance with our registration with the Financial Market Authority and regulatory approvals, we manage several key aspects of the token sale. The white paper, terms of the $LEOX token sale, and an independent legal opinion from a credible law firm categorizing the $LEOX token as a utility token will be included in the notification to the regulator.
Galileo Protocol is one of the first using QRC-721 and QRC-20. It is a Web3 protocol designed to build the infrastructure layer in the omniverse to connect digital and physical assets on the blockchain through Web 3.0 tokenization service. “Galileo Protocol,” the flagship application of the Galileo network, allows the creation of “pNFTs” (physical NFTs) to encrypt, store, and transfer data securely. These pNFTs are non-fungible tokens representing physical, authenticated assets issued on multiple chains. Galileo is banking on expanding the utility of NFTs as a tool to combat counterfeiting, which currently is valued at more than $500 billion business. pNFTs will add a layer of authenticity and ownership to the underlying physical assets.
Galileo’s pNFTs provide a valuable tool for buyers and sellers to establish that authenticity. Galileo Protocol will enable most people to convert real-world assets into NFTs. These NFTs are purchased with fiat currency or cryptocurrencies (such as $USDC). Galileo offers a plethora of services under its umbrella, including:
The $LEOX token will serve as a utility token within the Galileo ecosystem. The ultimate goal of Galileo Protocol behind the creation of $LEOX is to function as a digital currency that you can use on the internet when dealing with physical assets. $LEOX token will enable the execution of key functions, including acting as a means of exchange for platform services, staking rewards, transaction fees, and governance rights.
Find out more information about Galileo Protocol and LEOX tokens at https://www.lcx.com/wp-content/uploads/Galileo-Protocol-Whitepaper.pdf
Disclaimer: This content contains forward-looking statements that involve inherent risks and uncertainties, and we might not be able to achieve the predictions, forecasts, projections and other outcomes we describe or imply in forward-looking statements. A number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates, and intentions we express in these forward-looking statements and in other public filings and press releases. We may not achieve all of the expected benefits of our strategic initiatives and partnerships. Factors beyond our control, including but not limited to the market and economic conditions, changes in laws, rules or regulations and other market challenges, could limit our ability to achieve some or all of the expected benefits of these initiatives. This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.
Legal Disclosure: LCX is a regulated entity and gained regulatory approvals as a token generator, token issuer, exchange service provider, price service provider and other legal roles according to the Liechtenstein blockchain act. LCX is acting as a trusted technology service provider for this token sale. LCX and Monty Metzger are closely involved in getting compensation and fees paid in the project token and other assets. From time to time we will engage in transactions of our own tokens.
LCX AG is a company found in 2018 and registered in Liechtenstein No. FL-0002.580.678-2. LCX AG is regulated by the Financial Market Authority of Liechtenstein under the registration No. 288159 as a trusted technology service provider.
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