Dear LCX community,
We had our monthly AMA on the 10th of November in our official Telegram chat, where our CEO Monty C. M. Metzger (@montymetzger) answered questions from the community on our different topics related to both the platforms, their goals, upcoming launches, and more. We really liked how it went down, here is the summary for our live Ask Me Anything (AMA) session dated 10th November 2021, Moderated by community moderators “King” and Samaksh.
LCX.com community members👋
As we are about to start the AMA program proper, it’s pertinent to pass this piece of information to the community.
During the course of the program, the community would be muted for an easy flow of communication between the host and the CEO.
We crave your indulgence while muting the channel for an easy flow to address your queries and the readability of all. Of course, we’ll definitely open the channel to entertain your questions at the end of the AMA proper🙏✍️. @montymetzger are you ready as the community can’t wait to hear from you😇
Monty Metzeger, CEO,
Thanks, @king_LCX. Hello everybody. First I’d like to welcome the whole LCX Community.
Yes – let’s get this started!
Awesome! Let’s get started guys🙌
Monty Metzger, CEO
We have many new community members now and I want to welcome all of you personally!
$LCX community is the best community in the industry. And we are super excited to welcome you as well.
So as there are many new users, first a short intro about LCX.
LCX is building a financial ecosystem for crypto and fiat alike to become the new category leader in the industry.
We are headquartered in Vaduz, Principality of Liechtenstein – one of the best jurisdictions for blockchain companies globally.
We have been granted 8 blockchain-related approvals more than any other company in the country.
We have increased the nominal share capital of LCX AG from 100’000 CHF to 1’000’000 CHF in the process of further licensing.
We are implementing the highest standards of governance, from regulatory topics like risk management and compliance to dynamic startup culture elements like daily standups, agile development and transparent communication.
We are working with other industry leaders and institutions to collaborate on products, define new standards and engage in a dialogue on the future of our monetary system. Our partnership is essential for the LCX ecosystem.
In addition, for all you $LCX newbies out there. Short info about myself.
I have been an entrepreneur since the ’90s. Started my first company in 1998 programming websites with HTML and PHP. First new economic hype.
Since then I have started many tech and digital companies with offices in Beijing, Tokyo, Munich and HQ in NY.
I exited my previous company in 2008 and started to become an investor and business angel.
In 2013 I found a registered Venture Capital Fund and started to invest more professionally in startups in the USA, Asia and Europe.
We built up a nice portfolio with companies that got acquired by Twitter and other high profile companies.
In 2013 I discovered Bitcoin …. but as a regulated fund we could not invest. We were sidelined similar to many other institutional investors.
With LCX we will empower everyone to join the digital asset space. At LCX we are building the infrastructure of the next big wave of digital assets and the digitization of the whole financial industry.
I resigned as General Partner at the VC in 2017 and started with LCX with the legendary napkin strategy. It’s super exciting. A lot of work. The best thing about LCX is the amazing $LCX community supporting us all the way.
Thank you for this! So – now to the questions
Awesome! Thanks for this insight and I believe our esteemed community members can’t wait for this.
First Question – Can you provide an update on any upcoming milestones mentioned in the LCX Q4 roadmap?
Monty Metzger, CEO,
Update on Roadmap.
Yes – Absolutely, it’s my pleasure to tell you about the projects we’re working on and the areas where we’ll be concentrating our efforts in the next months. With the recent introduction of LCX Mobile, we’re currently focusing on making significant modifications and bringing essential updates to the app to improve the user experience. Two of the main immediate focuses are the Secret Project and Tiamonds launch. Details will be out soon, so stay tuned.
Thanks for the insight into the LCX Roadmap.
Next, we have a question on LCX Exchange – When will the revamp of the exchange be released?
Update of the LCX Exchange is coming. To make the trading experience on the LCX exchange more seamless and quick, we’re upgrading and revamping the website.
It looks beautiful. Usability will be improved, much faster and sleek design. LCX’s newly upgraded and user-friendly website version 2.0 is scheduled to launch in Q4, 2021; there hasn’t been a confirmed release date. Our tech team is working on it, and once the team confirms a release date, it will be made public. We were also thinking of releasing it on the first year anniversary of LCX Exchange… this would be on Jan 5th…
Let’s see how fast our tech team can get it done. We’ll keep you posted
For this power pack AMA, will not be doing this all alone today
I also have @Samakshwangnoo_LCX 🤝
And to the next question:). When will the exchange be added to the app?
Since the launch of the App, we are constantly upgrading it to provide users with a better mobile experience. We launched the Android app. Which is available here for download https://play.google.com/store/apps/details?id=com.lcx.app.
Since launch, we have had more than a 4 digit number of downloads.
145 reviews with a 4.5-star rating.
Amazing. But LCX Mobile is not finished. It’s an ongoing project for us.
LCX Mobile is a new product category and will be expanded.
The exchange addition at LCX Mobile is currently in the final development stage, and soon you’ll be able to trade using LCX Mobile. The release date will be revealed after the completion of development and testing.
I saw it working today…. looks great. We want to get it tested on all major android devices before release.
We have released several small updates in the app store already.
You will be informed first about the next major update > here in our community or on Twitter @LCX.
Community Host :
Thanks for the update, I am sure the community is excited about the Exchange update. Next move on to the Big Secret Question – Any updates about the Secret Project?
The Secret Project is called a secret since we cannot give away any information unless…
Secret Project is called secret since we cannot give away any information unless all the parties in the project agree on it.
It’s something we had been working on since spring this year. Some rumours are already out there, but we cannot comment atm. Please bear with us.
Great and thanks for this powerful insight. We have the next question thus:)
How close are we to LCX mobile being available to IOS?
Monty Metzger, CEO,
Android was only the first step. iOS is next.
LCX Mobile on iOS is making progress, but the overall development is also more advanced.
For LCX, iOS is a key requested feature as many of our users are on Apple devices. And now, as Tim Cook said he owns crypto personally…. we don’t want to wait any longer
In the meantime, I can recommend you to use LCX Exchange or our LCX platform on your safari or chrome browser on your iPhones. Works great and the whole design is fully adjusted to mobile devices since launch.
So I guess now the community can prepare to use LCX Exchange on iOS devices.
Mr Ceo mentioned a secret partnership that will be announced in Q4. Is it the right time to announce it?
Haha, Mr who?. You know you can all call me Monty.
btw. I hope you all follow me on Twitter already https://twitter.com/montymetzger.
secret means confidential… 🤫 follow me… and I keep you posted.
Awesome! Let’s jump to the next question.
How does LCX plan to integrate Hedera Hashgraph into its business model?
We announced a strategic partnership with Hedera Hashgraph in July 2021. https://hedera.com/blog/hedera-hashgraph-and-lcx-to-develop-infrastructure-for-digital-securities.
With this new partnership, we envision leveraging the technology infrastructure of LCX to expand the Hedera Token Service (HTS) with the addition of a new security token standard and provide secure, reliable, transparent, and compliant infrastructure for digital securities to its users.
We are focusing on long term R&D work about our “Liechtenstein Protocol”. The goal is to Implement a new standard for digital securities enabling on-chain and on-token-level compliance on the Hedera network.
This is not a quick win, but a long-term massive opportunity. The Hedera Team is fantastic. Leemon Baird and the whole team. The whole partnership was 2 years in the making before we announced it
Here is a great video AMA if you want more details https://www.youtube.com/watch?v=vzQKcub6_VA
Besides that, you should also know about our technology partnership with Polkadot and Parity Technology. This is exciting too https://www.prnewswire.com/news-releases/lcx-to-advance-parachain-technology-with-technical-guidance-from-parity-technologies-301367201.html
With Polkadot, we are doing research and development in a similar direction. But Polkadot has also committed significant development resources for our LCX team. This is strengthening our tech stack in the future.
@montymetzger we know LCX is always adding partners for further growth of the LCXEcosystem with Hedera, Polkadot, Zilliqa and many more … check https://www.lcx.com/info/ecosystem/ to know more.
Let us address the recent events in the LCX Ecosystem with this question – Tell us about the Coinbase listing?
Important question. Coinbase Listing was a major milestone for LCX and the whole $LCX community.
At first, we announced full support at Coinbase Custody. This is important as all major funds and institutional investors can now store $LCX at Coinbase.
These are all big players, as the min. deposit at Coinbase Custody is 500k or sometimes even more than 1M in assets. Second, Coinbase made the official announcement of listing of $LCX tokens at Coinbase Pro.
And then Third. Coinbase announced the full integration and trading functionality of $LCX at Coinbase and Coinbase Mobile.
Since then trading volume has been growing more than 1000 per cent. On one day $LCX trading volume reached more than 100M USD.
The result is that more people are now getting aware of what we are building. More users. More traction, More Fans…
As we always appreciate the support of our esteemed community members, we’ll open the floor for y’all to interact with the CEO @montymetzger. Thanks for supporting LCX.COM
Are you ready guys? The floor is open guys
Are you still building on the constellation?
Constellation is a key partner. DAG is listed. We are running several notes. More to be announced.
Liquidity is still an issue on the exchange, this seems to be a priority one. Could it be for regulatory reasons this is hard to solve?
In contrast to many shady platforms, there is no fake volume at our exchange. Low volume also means great arbitrage opportunities on many pairs. LCX-USDC is still leading at our platform alongside the other LCX pairs.
There will be some exclusive listings coming which will drive liquidity as well. At LCX you will get access to some of the most exciting new tokens…. exclusively.
One very important question from a community member @montymetzger. What is the current state of Tiamonds and will users still need to stake 1 million LCX to get VIP status?
Get ready for Tiamonds. Tiamonds is a project by LCX with the goal to showcase the opportunities of tokenized assets, to educate consumers about tokenization by gamification and to create a community-driven token economy.
The Tiamonds project includes two key elements: Tokenized Diamonds called Tiamonds and a deflationary cryptocurrency called TIA Token.
Tiamonds are non-fungible tokens (NFT) representing the ownership rights of real-world Diamonds. A diamond is the hardest material on Earth and has long since been recognized for its beauty as a gemstone. Each Tiamond is receiving TIA Tokens as rewards over time through the “Own to Earn” model.
TIA Tokens are a community-driven, fair launched DeFi Token connected to Tiamonds. TIA Tokens are a deflationary cryptocurrency with three simple functions which occur during every transaction: Reflection, Rebalancing, and Burn.
The first drop of Tiamonds will include 100 Tokenized Diamonds. LCX issues 100 tokenized Diamonds as NFTs called Tiamonds.
Each NFT represents the ownership rights of one indivisible Diamond.
In addition to this, each Tiamonds (of the first generation of Tiamonds) grants the owner the right to receive 1 million TIA Tokens, where 1 TIA Token will be rewarded every minute for 1 million minutes. There are 525,600 minutes per year, so 1 Million minutes is almost 2 years.
The purchases process will be explained in detail. A few elements are described in the white paper already. The first generation includes 100 Tiamonds. The initial drop of Tiamonds will be exclusively sold at LCX.com. 50 Tiamonds will be offered for sale at a fixed price and 50 Tiamonds will be offered in an auction.
Only verified users are eligible to participate in the sale and auction. So sign up at accounts.LCX.com and get verified now. The Tiamonds sale at a fixed price is limited to VIP users at LCX. To become a VIP User at LCX and to have access to the Tiamonds sale at, users have to stake 1 Million LCX Token for a minimum of 1 year
VIP users will have preferred access to the Tiamonds sale platform and can buy a maximum of one Tiamond. Only LCX Tokens are accepted as a payment method.
But besides that – Tiamonds will be sold in the Auction. The auction is available for any verified LCX user. Tiamonds auction will start at a minimum price and then users can make bids until the auction will end.
Users will be bidding in LCX Token only, the estimated USD value is visible next to the total amount of LCX Token. Each user may only bid on one Tiamond auction at the same time.
We will have several drops and the opportunity to grab your own Tiamond. White Paper is online here https://tiamonds.com/images/Tiamonds_White_Paper.pdf
The AMA session with @montymetzger has finally come to an end. We’re greatly astonished to have a well-articulated AMA session with the CEO.
Also, we are indeed overwhelmed by all our esteemed community members, for your support and strength towards the project. For more information and to be part of the project, you may visit the website via: https://www.lcx.com/insights/
This was a lot of fun. But wait… I have some special news to share with you. As we prepare the Tiamonds launch. I want to give you some more insights
We explained about Tiamond NFT’s and the TIA token already. But to enable this sale LCX launches a special dApp and #NFT marketplace.
Here are some first screenshots on how this looks – https://twitter.com/lcx/status/1458496102873944071
You can see 4 screens.
– NFT marketplace with Fixed Price Tiamonds and Tiamonds on Auction
– Your own Profile page with items you have bought and your bids
– the Tiamonds Auction page to place bids
– and the Tiamonds sale page.
Everything is working already at our staging and testing servers. Development had been ongoing since early this year and now coming closer to release.
Users will be able to check the Diamond GIA Certificate, LCX Tokenization Certificate and the on-chain NFT
As of Tomorrow, we will start a community-driven and fun campaign about Tiamonds – step by step releasing more details. All leading up to a very exciting new product universe.
Thanks, @king_LCX and @Samakshwangnoo_LCX for hosting this $LCX community AMA today
Share the news with your friends and invite them to join our community as well. And don’t forget to sign up at accounts.LCX.com
Thanks, everybody for joining today!
Almost 1500 people are online. Amazing!
The AMA session with Monty has finally come to an end.
We’re greatly astounded to have a well-enunciated AMA session with the CEO
Also, we are indeed overwhelmed by all our esteemed community members, for your support and vitality towards the project.
For more information and to be part of the project, you may visit the website via: https://www.lcx.com/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.
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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