Since 2019 LCX has burned 100% of all LCX Tokens used to pay for fees within LCX’s ecosystem. LCX conducted 5 token burns, burning a total of 50 million LCX Token with a current estimated value of more than $1 million USD. In today’s 5th token burn, LCX burned 3’165’775 LCX Token, this is the highest-ever amount burned. The number had been rounded. Today, we also published our updated Token Economics. See the transactions for this burn here: Transaction ID of Burn.
In December 2020 LCX.com gained regulatory approval for 8 blockchain-related registration under registration nr. 288159 by the Financial Market Authority Liechtenstein. As a result, we have launched the extended LCX Exchange and will roll out a variety of new products and services as a regulated trusted technology service provider.
By purchasing the LCX Token, users can take benefits from a reduction of up to 50% on LCX Exchange trading fees, get full access to the LCX DeFi Terminal, pay monthly fees of the LCX Terminal, pay fees for LCX Vault crypto custody, pay fees in relation to LCX’s regulated reference price services such as price API access, pay fees in relation to token sales hosted or powered by LCX technology or pay other service fees within the LCX ecosystem. Furthermore, companies and clients of LCX will have the ability to pay fees for listings, exchange membership fees, or token sale fees with LCX Token as well.
The LCX Token burn record is public on the blockchain.
You can also see the reduced total supply at Etherscan:
The LCX Token is your chance to be part of LCX’s vision to bridge the gap between traditional finance and the new monetary world powered by blockchain and cryptocurrencies.
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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