Dear LCX community,
On October 10th, 2022, we had the most engaging and supportive AMA in our official Telegram chat, where our CEO, Monty C. M. Metzger (@montymetzger) answered questions from the community on various topics related to the platforms, our objectives, upcoming launches, and more. We really appreciate the warm conversation with the community and would like to share the summary of our live Ask Me Anything (AMA) session, moderated by community moderator “King” & “Alex”.
Community Host
Welcome Monty ! ??
Monty Metzger, CEO
Hello LCX community. Such an exciting day today.
10/10 Relaunch of LCX Exchange
Monty Metzger, CEO
@king_LCX @Alexi_LCX great to have you here with us
Community Host
??
Community Host
Glad to have you with us.
Community Host
I’m not going to take our time today by just going straight to those questions filled by our community members.
Community Host
What’s the next big thing @LCX is working on now that the exchange has been revamped?
Monty Metzger, CEO
The news about the LCX Exchange Revamp is spreading.
Community Host
Awesome!
Monty Metzger, CEO
I see. You want to look beyond the relaunch right away. Happy to get started with this – but later I have to speak about the LCX Exchange relaunch.
Monty Metzger, CEO
The biggest milestone will be our new tokenized bonds. It sounds complex, but let me explain in simple words.
Community Host
Very nice ?
Monty Metzger, CEO
Think about BlockFi and Nexo. They offered interest earning products for your crypto. You could earn % on your USDC, BTC or ETH. But they did this without any approvals. This is clearly a security offering. I always said this…. and wondered. Now they got big big problems and got many letters from regulators.
Monty Metzger, CEO
LCX will be BlockFi 2.0. LCX will be Nexo 2.0. The legal way.
Community Host
Wow, this is a lovely development
Monty Metzger, CEO
We will be able to offer interest earning products – security tokens – which will give you % on your crypto.
Community Host
Thats awesome ✅
Monty Metzger, CEO
We started the process when we announced the first tokenized bond filing at the regulator. The process is ongoing, but the result will be huge.
Monty Metzger, CEO
And at the center of this is our new account management – LCX Accounts.
Community Host
Interesting ?
Monty Metzger, CEO
With the LCX Exchange revamp, the whole LCX Accounts section got a major upgrade as well. See it yourself at accounts.LCX.com
Community Host
Very nice Monty ?
Community Host
Lets go to the next question ?
Monty Metzger, CEO
wait. there is more. haha
Monty Metzger, CEO
The LCX Exchange Revamp is another milestone in LCX’s growth roadmap establishing the foundational framework including its new backbone infrastructure, scalable account wallets and updated user interface.
Monty Metzger, CEO
The LCX exchange upgrade is now launched, you can start exploring all new features at exchange.lcx.com. Following the launch of the LCX Exchange revamp, we have a high-level roadmap covering the rest of 2022 and 2023, which we can share with you. There are many exciting releases planned before the end of the year, despite the fact that we are unable to provide detailed information on each individual item at this time.
Monty Metzger, CEO
November to December 2022
The feature to Top Up with Credit Cards will be integrated
Referral Program will be introduced
Trading Competitions will be conducted
Multi-Level Fees on Trading will be integrated
Monty Metzger, CEO
Q1 – 2023
Stop Limit Order will be integrated on LCX Exchange
Polygon Network
LCX will launch Staking as a Service (Crypto, ADA, ETH)
Lightning Network Support (BTC) will be integrated
Monty Metzger, CEO
For more details, read here: https://www.lcx.com/relaunch-of-lcxs-crypto-exchange-and-future-roadmap/
Monty Metzger, CEO
yes – ready
Community Host
Awesome ?
Community Host
Very nice !
Community Host
With the launch of $DAG Mainnet 2.0 what’s the progression around building an $LCX state channel to validate trades efficiently on chain?
Monty Metzger, CEO
We are excited to work with Constellation network and the $DAG community. We established a long term partnership. See https://www.prnewswire.com/news-releases/constellation-network-chooses-lcx-as-partner-301257193.html
Monty Metzger, CEO
A little later we also launch DAG at LCX Exchange https://www.lcx.com/constellation-dag-launching-at-lcx-exchange/
Community Host
Very exciting Partnership ?
Monty Metzger, CEO
LCX is supporting the Constellation Blockchain and DAG. Therefore we have established an infrastructure including Mainnet 2.0 support. Running several nodes, wallet infrastructure of DAG and more.
Community Host
Great!!
Monty Metzger, CEO
State channels are chain-agnostic – that’s why this is especially interesting. They can define their own complex business logic and even include good old-fashioned ERC-20 tokens. Most importantly, they make oracles unnecessary, because they validate data from where it originated in real time.
Monty Metzger, CEO
I can repeat what I said a while ago “Crypto is all about scale. Constellation has built the infrastructure to scale fast and build a profitable network for all stakeholders involved. Now LCX users will become stakeholders of the Constellation Network as well and will enjoy its benefits”
More news will follow.
Community Host
Thanks for your updates. The community is still very excited about the revamp whilst, wants to hear more from you.
Monty Metzger, CEO
yes – we are excited as well
Community Host
What are the top priorities for LCX this year? and what plan will you do for the development of the exchange ?
Community Host
What is the main vision and goal for this revamp and who are your next targeted customers?
Monty Metzger, CEO
LCX Exchange – Revamp:
- New UI and UX
- Enhanced account security
- Simplified login process
- Scalable and much faster trading engine
- Faster and automated withdrawals
Monty Metzger, CEO
The LCX Exchange Revamp is the first milestone in the LCX Growth Roadmap, providing the foundation for scalable account wallets, a new backbone infrastructure, and an improved user interface. The LCX Exchange has been re-launched to combine functionality and convenience from our existing exchange with new, enhanced features. We’ve done a slew of improvements keeping in mind the long-term focus of mass adoption.
Monty Metzger, CEO
The LCX Exchange has a variety of features to suit every cryptocurrency user and trader. A few of the most important factors for any trader or new user to consider when selecting an exchange are security, regulation, and variety, and LCX has everything. Our emphasis on legal and regulatory infrastructure is a key differentiator for LCX. Our crypto compliance suite and account management are proprietary technologies that are extremely scalable.
Monty Metzger, CEO
We now have 82 trading pairs and 35 tokens available.
Community Host
Great development ?
Monty Metzger, CEO
And a strong community of traders – growing day by day.
Community Host
Awesome?
Monty Metzger, CEO
Most importantly LCX has become the new hotbed for the next big crypto token.
Community Host
That’s awesome ?
Monty Metzger, CEO
With the new token sales we are growing fast. All of these projects have the potential to be the next top 10 coin.
Monty Metzger, CEO
And these tokens, which have been issued by LCX – the legal way, have been listed at LCX Exchange.
Monty Metzger, CEO
It is so exciting to see the development of NMKR for example.
Monty Metzger, CEO
https://twitter.com/nmkr_io/status/1579052218791055360
Community Host
Oh, that’s great!
Monty Metzger, CEO
NMKR is trading at LCX Exchange with several trading pairs. Their product is loved by the Cardano community and is used on a daily basis.
Monty Metzger, CEO
I am also inviting all of you to meet LCX at the Token Summit in Liechtenstein this week. We will have a booth there https://twitter.com/montymetzger/status/1576893163310284802
Community Host
That’s very exciting that this Project launched through LCX ?
Monty Metzger, CEO
But I will also speak on the main stage about LCX’s recent achievements.
Community Host
Awesome!
Community Host
Very nice Monty !
Community Host
Lets go over to the next Question
Community Host
A very important one for the Community
Monty Metzger, CEO
But also Plan B Forum will be great.
Monty Metzger, CEO
I will be speaking next to many other crypto pioneers and blockchain innovators
Community Host
Interesting ?
Community Host
Very excited about that ?
Community Host
Please update on the progress: QMM, staking, potential of own blockchain, expansion of NFT platform, new listings, new use cases of utility token #LCX, beating competition.
Monty Metzger, CEO
All of these products and offerings have one thing in common – LCX token is the key. All of these products will have big impact
Monty Metzger, CEO
Next up will be our NFT platform – where big news is coming ?
Monty Metzger, CEO
At Tiamonds millions of LCX tokens have been staked to get exclusive access to our 1-1 diamond NFTs.
Community Host
Very nice !
Monty Metzger, CEO
https://twitter.com/montymetzger/status/1496119172874616836
Community Host
So nice ?
Monty Metzger, CEO
LCX is the leading blockchain company in Liechtenstein. We gained more registrations than any other company in the country.
Community Host
That’s very important for the Company !
Monty Metzger, CEO
We work hard and consistently. We work with regulators to take the whole industry to the next level.
And we aim to make LCX a top 10 blockchain company worldwide.
Community Host
Onwards and upwards!
Community Host
?
Community Host
We’ll now open the channel to allow you to interact with the CEO as time isn’t on our side anymore.
Monty Metzger, CEO
This has been published in 2020.
Community Host
Great!
Monty Metzger, CEO
https://twitter.com/lcx/status/1291809584349351938
Community Host
Guys, be ready with your questions ✍
Monty Metzger, CEO
LCX in 2025…..
Community Host
That’s very exciting to see 2 years later and where we are now ?
Monty Metzger, CEO
We keep building
Community
Are liquidity providers now able to be integrated into the exchange after the big Revamp?
And will the liquidity improve now?
Community
Are liquidity providers now able to be integrated into the exchange after the big Revamp?
And will the liquidity improve now?
Community
Monty contrast with the upgrade, Any further progress in the United States? USD on/off ramp?
Community
Can we see LCX offering other digitized assets, if so what NFT can we see next and when could we expect this?
Community
problem*
Community
When can I finally download my trade history? As a German, you know how important this topic is. The download is standard on all other exchanges
Community
When can you see constellation tokens on the LCX exchange like LTX?
Community Host
What is the $LCX token’s functionality and tokenomics? Is staking a viable option for retaining investors and rewarding users in your project? What are your biggest hopes for the project you’re working on right now in terms of product development?
Community Host
You know marketing is an important factor for every project. What is your strategy to attract new users and investors to your platform and keep them long term?
Community Host
Tell us all about the revamp and what new features we can expect and what will be added in the coming months.
Community Host
Partners are very important for every project today, may I know which partners you have now and which partners in the future you will be
Community Host
Some other questions from the community ?
Community
Also is there any news about staking of the lcx token?
Community Host
Monty, can you tell us something about QNT and the QRC20 Token which will launch on LCX ?
Community
Bank frick sits a few meters away from you and offers the possibility of fiatramps. Why haven’t you used this service so far? Kraken uses this service from bank frick for fiat ramps @montymetzger
https://www.bankfrick.li/de/services/blockchain-banking
Community
Would it be possible to give the community a little insight/updates to the progress of all LCX partnerships like QNT, HBAR and ZIL?
Monty Metzger, CEO
We have been working with Quant for a long time. But finally we are making history together
Community
Will LCX token have its own blockchain? When will this change happen, if so?
Community
What would it take/involved to digitalize gold and could we see LCX offer a Gold NFT ?
Monty Metzger, CEO
LCX is the first platform (ever) and first exchange to launch a QRC-20 token. Quant Overledger technology is coming to live. Powered by LCX.
Monty Metzger, CEO
The LEOX token is the first public launch worldwide using the Quant Networks QRC-20 standardization. LCX, the Liechtenstein-based exchange and long-term strategic Quant Network partner, will manage the token sale.
Monty Metzger, CEO
Physical asset-backed NFT marketplace Galileo Protocol becomes the first company to use the new QRC-20 token standard. Galileo Protocol QRC-20 LEOX Token Presale is now live on LCX exchange.
Monty Metzger, CEO
Quant’s Overledger product suite Tokenise facilitates creating and deploying institutional grade QRC-20 and QRC-721 multichain tokens and digital assets. The LCX exchange is the world’s first centralized exchange and crypto platform to launch the Quant-based product in the form of a private sale of the LEOX QRC-20 token.
The LEOX offering is an essential milestone for Quant Network and the Quant community.
Community
When tokenized real estate? Tokenized everything? Does LCX work with Quant’s “Tonkeniser”?
Community
This is next level token offerings ? but what about giving a little update to DLT interoperability
https://www.lcx.com/quant-chooses-lcx-as-partner-to-enable-dlt-interoperability/
Monty Metzger, CEO
$QNT is at $150 currently. $LCX would be at $3 to be at a similar market cap.
Community
Hey @montymetzger , I was just trying to use the lcx exchange, but there is honestly no liquidity. This makes the exchange unuseable to me. What are you doing to solve this problem?
Monty Metzger, CEO
Now we have relaunched and can scale liquidity as well.
Monty Metzger, CEO
As of today, we have launched a program for liquidity providers and offer zero trading fee for all professional market makers.
Community Host
Beautiful ??
Monty Metzger, CEO
Some final thoughts as we close this AMA.
Community Host
Great, we can’t wait to hear from you?
Monty Metzger, CEO
I noticed that some people are questioning LCX’s reputation and regulatory setup. Especially since LCX was mentioned in the Coinbase insider trading case by the SEC – where SEC claimed that LCX among other tokens is a security.
This triggered a variety of activities to prove that LCX token is a utility token and issued the legal way.
> Coinbase did not delist nor pause LCX token, nor any tokens mentioned in the court case. Instead they openly said to prove that they do not list any securities – and that LCX is not a security.
> In Liechtenstein there are sophisticated blockchain laws and smart legal frameworks. According to these blockchain laws LCX token is classified as a utility token. Full stop.
> Now MICA has been passed and will be introduced in 1-2 years. MICA is largely inspired by Liechtenstein crypto laws. Therefore LCX token can be also classified as a utility token on European level.
> Recently communication between SEC and other regulators (cannot disclose details) have started to explore that LCX token is classified as utility token – and is clearly not a security.
> Compared to XRP, LCX has been issued in a fully compliant manner and since then has been used as a utility on our platform.
LCX might be the first token to get a confirmation from SEC to not be security.
Monty Metzger, CEO
To sum up today’s AMA. I can tell you that our strategic decisions are paying out in the long-term.
Monty Metzger, CEO
We are sometimes missing out of the latest hype. But other players launch with proper legal clarification or without any proper setup. We are here for our LCX community. We have a team of more than 70 people. We have a publicly known headquarter and address. We value transparency, integrity, truth and beauty.
Building beautiful products which our users love.
Monty Metzger, CEO
Thank you for joining this special AMA.
Monty Metzger, CEO
And please go to exchange.LCX.com and share with your friends
Monty Metzger, CEO
Thanks @Alexi_LCX and @king_LCX for hosting this AMA again. Well done!
Community Host
You’re most welcome ?
Community Host
Guys, the community is now open ?
Community Host
Thank y’all for your support ?
Community Host
The AMA session with Monty has finally come to an end.
We’re thankful for your support and for the amazing response to the AMA session with the CEO.
Also, we are indeed overwhelmed by all our esteemed community members, for their support and vitality towards the project.
For more information regarding LCX and the latest updates, you may visit LCX Insights
Thanks to all of you! The $LCX Community is amazing!
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.
