LCX Twitter Space AMA Recap — LCX Twitter Community with Monty, CEO & Founder of LCX.com

Dear LCX community,

On March 13th, 2024, we had our second Twitter Space AMA of the year, where we moved away a bit from our traditional Telegram AMA to engage with the community. Our CEO, Monty Metzger, Anurag, Director of Technology at LCX, Samaksh, Head of Business Development at LCX, and Riko Crypto, influencer and host of Insights Live at LCX, were all present in this Twitter space. In this AMA session, our esteemed speakers 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.

Riko Crypto, Moderator

Hello everyone! Welcome to the LCX AMA session, I would like to introduce myself quickly. I am Riko Crypto, the host of the weekly YouTube show LCX Insights, and today I will be the host and the moderator of this Twitter Space AMA. Let’s start this AMA by introducing the other guests on the show. First of all, we have Monty Metzger, the founder and CEO of LCX. Next up, we have Anurag, Director of Technology at LCX. Last up, we have Sam, Head of Business Development at LCX. 

Monty Metzger, CEO

Thanks, Riko, for the introduction, and I am very happy to be here. 

Riko Crypto, Moderator

So, I think today’s panel will be split into two parts. First, we will discuss all the important LCX news and updates, and then we will move on to the community questions. So, I have some questions ready for my guests, and I would like to start with Sam. Sam, could you please shed some light on the token sales on the LCX platform? 

Samaksh, Speaker

Hi, everyone. I am Sam. I am the head of Business Development at LCX, and I am excited to share the latest updates with you regarding our current and upcoming token sales. With respect to our current token sale, we have finally concluded the Bounty Temple $TYT token sale.  The project was a huge success, and the team is doing well. They have launched the token, and they will be coming out with the token listing pretty soon. And now we are also working with Wisdomise, and we will be launching the public sale pretty soon. Our team has been working tirelessly to ensure a smooth and successful sale. It is an incredible opportunity for our community members to be a part of these incredible projects. 

Riko Crypto, Moderator

Good to know, Sam. Could you please tell us more about the upcoming token sale projects that are coming to the LCX token sale platform? 

Samaksh, Speaker

Definitely, definitely. So, you know, our goal at LCX has always been always regulation,  transparency, and in the world of crypto, it’s crucial to stay informed and make educated decisions. That’s why at LCX we prioritize that we bring transparency and regulation for all the projects, new projects which are coming through. And that’s why I’ve exciting news regarding the upcoming token sale, which is an innovative project and we believe it will be a game changer. And the project’s name is Spotshot. It’s a media platform that enables users to create, share and engage in viral challenges and collective experiences. So the main thing for Spotshot and why it stands out is it’s basically groundbreaking approach to content creation, audience engagement, particularly through its focus on challenges. And unlike other social networks that rely on passive consumption, Spotshot actually encourages active participation from all people who are on the platform. Pretty much like crypto, where community is the king and we always try to listen to community and I think we push forward on this. So I’m really excited that we will be announcing the token sale soon. Our team is putting some final touches on the announcement and we can’t wait to share it with all of you. So yeah, stay tuned on the LCX Twitter and read more about the project. 

Riko Crypto, Moderator

Give them some love. Yeah. Feel free to reach out. Perfect. And I actually know that Monty met with a Spotshot team. Maybe you have something to add about this project?

Monty Metzger, CEO

Yes. So I met the Spotshot team in Zug, in Crypto Valley last week. We sit down together to plan the next growth. And as you all know, as the LCX community, we are selecting the projects with deep due diligence. So, we look at the product, at the team, and of course at opportunities which are rising. And the goal is really to find the next big crypto gem. And with regards to Spotshot, it is all about challenges on social media. As you know, there had been the ICE bucket challenge and some other challenges which are going viral. And for that, Spotshot has done a tremendous platform to actually go viral with a lot of these challenges and tasks and tools and basically building a new kind of a social network meets Web3, meets the blockchain. So it’s really taking an opportunity there to create a next generation of social network, but with blockchain technology and background. And the team is working out of Berlin and has huge experience around in this field.

They’ve run campaigns for Adidas and some other large brands in the past where they did exactly that in a custom made environment. Also at Gamescom, for example, that’s the biggest games convention in Europe and at least like by far one of the biggest also in the world. And so they gained in the last five, six years a lot of experience on running these challenges on social media. And we thought that might be something with a huge opportunity also on the blockchain. And that’s why we selected them to be presented as a token sale project at LCX. And for sure there will be more to be shared in the future. So, for example, they have two co founders, which are super large influencers as well. And they have one crypto investor who had been earning a couple of millions with his previous projects and he invested also in Spotshot. So very good ground. And of course, it’s a startup, so we don’t know if they will really succeed and how successful it will be. But the parameters from an investor perspective with my experience from the past, look very promising. So a great team. The product is there, it’s ready to be rolled out. Amazing utility with the token, strong community with the social networks. So it all looks good and I’m looking forward to get that on our platform. 

Riko Crypto, Moderator

Sounds good. And maybe you can get some kind of a teaser for some preliminary date for this token sale.

Monty Metzger, CEO

I think Sam has all the details on this can share, but in general, you can sign up right now, get ready, fund your LCX account. This is what we recommend. Then you will be first in line to get access to that. But the dates, I think. Sam, are there

something you can reveal already?

Samaksh, Speaker

Yes. So, everyone, our team is actually doing some final touches on the announcement. And I think today only within next few hours, the announcement will go live. So you will be able to read all about Spotshot. We’ll share all the links or their social media, and very soon you will be also able to talk with the team, ask them questions. We will do an AMA with them. So, yeah, we’re really looking forward to working with Spotshot team.

Riko Crypto, Moderator

Yeah, I agree. Like with Monty also, if you plan to participate in any sale with crypto, I always say it, you have to be early, you have to be first. So sign up now, don’t wait too late. And while I have Monty right here, I would ask a question. What is the latest regulatory updates regarding the number of registrations?

Monty Metzger, CEO

A bit different question, but yeah, so, number of registrations. So, first of all, LCX is getting MiCA ready. We have an unfair advantage because we are regulated now since 1 January 2020. So we are now in the fourth year, basically, of being a regulated entity. And with these registrations we have in Liechtenstein, which are based on the blockchain act in Liechtenstein, enables us an express route to MiCA and gives us fast access to that. The regulator in Liechtenstein is preparing all the steps. One public known and announced step is the change of the laws for the transition year. So this is in place since 1 February, but since then we didn’t stop. We are now having talks to other regulators in different jurisdictions, including european jurisdictions, UK, Austria, France, Italy, because we want to be at the forefront really being the first or one of the first to get the MiCA licenses. So we are already having several talks. So one is just starting in one and a half hours, for example, with our head of the corporate council at LCX and me and talking with regulators. And then nevertheless, I think as we double down on Europe, it’s a huge opportunity for LCX to really become the leading regulated exchange in Europe and also launch a lot of exciting products around it. So we’re taking the steps there. So what’s the latest update? I can say it’s on our roadmap for this year. Clearly getting more official registrations. Be ready for MiCA, probably expand in new jurisdictions as we come along this exciting bull market year.

Riko Crypto, Moderator

Yeah, great to hear that we’re starting bullish with lots of registrations as usual. LCX is leading in this way. And another question, as we can see from all the numbers on Twitter, on Telegram, on YouTube that LCX is always growing. But maybe we have some updates about new growth campaigns to make it faster?

Monty Metzger, CEO

The growth faster growth is the key topic for us. We are still a niche exchange. If you look at the volume, trading volume we have on liquidity, but this is going to change. So for this we can announce today that there will be a big growth campaign starting in the next couple of days with a wave of incentives to sign up, a wave of incentives to trade, a wave of incentives to deposit funds, and this will all trigger the usability. And then at the same time, we’ve now scaled up the market making side. So partners who bring liquidity to our exchange from one to now, almost ten market makers who are now splitting up different roles. And this is something which you as a user probably have noticed already a little bit at some

Pairs, but this will make a big impact. And for this we are working with some experienced liquidity providers and market makers who brought, who worked with Earlycrypto.com and other exchanges and brought them from literally zero trading volume to 500 million and plus. That’s the goal for us. So liquidity and growth on the platform paired with natural growth and incentives for users. I hope that we can share some big milestones with you shortly. We do see an in growth already coming in and we hope this will continue over the next couple of weeks. So for sure now, I think end of March, April will be very exciting, especially with the Dubai blockchain week coming up, we’ll have a variety of announcements. Bitcoin halving coming up. So I think we will ride the wave of the bull market.

Riko Crypto, Moderator

Yeah, from what I hear, I can see LCX will have interesting and exciting bull market for the community and of course, for the users. And now I would like to move and ask question to Anurag. What improvements did LCX implemented in the past month at LCX exchange to elevate the user experience? Because, of course, it’s all

about the users, the community.

Anurag is connecting. Okay, so while we are waiting here, let’s take up a question from Samuel. So, the question is what happened to all the banking news that we were supposed to hear about last month, where’s the banking partner?

Monty Metzger, CEO

So we have lined up a variety of news around fiat on ramps, off ramps, and banking partners. The first one which you could experience is the integration of Mastercard top ups. So you can now instantly top up your account with Mastercard. That’s working very successfully. We do see a lot of the incoming deposits all the time, and people are using frequently. So that’s one thing. And then there are some other news, which I don’t want to break right now, but I can tell you it’s not only one but several key partners and integrations and field on and off ramp. So we want to give a variety of options for users and this will be all coming in the next 30 to 40 days. So we lined up a lot of news almost every day, some highlights and this will be part of it. 

Anurag Verma, Speaker

I’ve heard that Monty has given update but I think I can maybe share some more updates. So I think in the last month, guys, we have done a lot of things in terms of a lot of perspective. One of them was actually in compliance. What Monty also mentioned that we are getting ready for MiCA. So, we are kind of fulfilling all the requirements that is required for the MiCA and implementing new things in the KYC and make sure we are fully compliant when the MiCA is placed and we are the first one to get approved. And for that I think we have done some changes in the KYC process last month and I think it is also deployed in the production as well. Then in terms of performance, I think maybe you guys have maybe experienced it in mobile apps that it is better improved from last build. We are still working on a lot of things in the improvements reducing the build size. 

You can see out of many exchanges of competitors. We are the one with the minimum size of the Android app and whether you take iOS app and if you compare it, there is a huge difference almost like ATMB between let’s say Binance app or Coinbase and with LCX app still we are working on a lot of things where we can improve the performance of the mobile app and web app as well and continuously our team is actually working on the back end process because scaling will be the key once this growth campaign is getting live. We are just making sure that all the load and everything our system can handle and we are not getting much issues and I think we can resolve everything at that point of time. So also getting ready for that. In terms of updates, we have done last month a launch of debit and credit card feature with Mastercard and I think we have seen it is a great success and a lot of users have used it and still using it. 

So I think soon we’ll come up with more updates in this feature stay tuned. Then we have done some more changes in trade page. If you have seen it like in mobile app in exchange as well on the web app. We are still working on a few more layout changes in exchange. It will soon be launched, maybe next week, early next week. I think you will find it really helpful and useful. If you are a trader then I think we have done this SRX token launch and the trading competition as well. Then I think today there will be an Dencun update in Ethereum and for everyone I think there’ll be no maintenance period. I think everything is handled. I think you can still deposit ether, nothing will be missed. You will not face any issues in that. 

And also with customer success team we also started a telegram channel for web app as well where you can share your issues, suggestions, feedbacks so that we are actually going through all those suggestions and implementing it in the next updates. So please stay tuned with all the updates. I think we’ll inform you in the group if your suggestion was accepted and it is deployed. So these are the updates Rico and for everyone from tech side. 

Riko Crypto, Moderator

You mentioned the Mastercard deposit update and I would like to ask when can we expect LCX users to use Visa deposits for the debit card deposit?

Anurag Verma, Speaker

Exactly. Great question. So definitely we are working on Visa guys and we are working on Visa with multiple payment partners and we are still in the process of onboarding and once this onboarding process is finished, I think we can easily launch a Visa. So stay tuned. I think we’ll soon launch the Visa card as well. We’ll support it. Thank you.

Riko Crypto, Moderator

So these were the questions we prepared, was like important topics and updates about LCX. And now we’re moving to the AMA part, the hard hitting questions from the community. And I will start with a question about the roadmap. So will the roadmap be out before quarter two for LCX? Because last year’s roadmap was based on numerology and was very general. Will the one we have this time have special goals? Who answer this question?

Monty Metzger, CEO

So I think the roadmap question is on my shoulders. So of course we will publish a roadmap. We plan to release it before the Dubai week, which we’re doing. So that’s like 15 April. It will start with the Dubai blockchain week and it will contain a big update on our product roadmap and also how we put the vision, turn the vision into reality. So yeah, you can expect an update on that, but I think no need to wait because a lot of the kind of smaller updates and processes we already given or given to you on a step by step basis as we are making. We’re not waiting until a roadmap is published. We are working on our roadmap already. We just don’t want to over promise. You know, we are a company with a swiss and Liechtenstein mentality, so we rather over deliver than over promise. 

So that’s why we rather keep it on a low ball and then really surprise everybody. And that’s something which is also core now, like we are in the 6th year of operating as a company, the consistency, reliability and security of everything we do has been shown. So it’s not something we have said. We’ve said it many times. But you can also see we are growing, we’re here, we’re hiring, we are taking it very seriously. So this is something which will be also part of the roadmap this year. It will be all focused about the year of the dragon. 

And the dragon is from mythology, kind of an animal which brings wealth to everybody, which is protecting your precious things. And that’s something which we do with custody, but it’s also enabling probably flying from one side to another, flying to new spheres. And that’s what we’re also trying to do with the roadmap. And there one key topic is for sure, tokenization and AI.

So AI is a key topic where we can enable some new functionalities not only on LCX but also on our new launch project which will also have some updates on MasterDEX and then also on LCX where we can do much, much more on tokenization. So with the physical validator, our role with tokenization as a next trillion dollar market, this will be a key, key highlight on our roadmap. 

Riko Crypto, Moderator

Yeah, if we’re talking about tokenization and roadmaps. Actually there is one question by the community which is pretty similar, but I will still ask it word for word because it sounds good. What about Tiamonds?  And how about MasterDEX Roadmap? Why has the launch been delayed and the ending is bull market is here.

That’s what our community says.

Monty Metzger, CEO

Okay, so for Tiamonds, we have Steven Gartner, who is running the project very successfully. It’s growing step by step. There are plenty of new partnerships coming up. The most well known is certainly with Cardano, which was a huge success, sold out immediately. We also have some users who are redeeming the Tiamonds now. So, also the redemption part is being tested, trialed out and working fine. But most importantly, we figured out the huge potential in the diamond market. The market has now been transformed more than ever. So if you talk to some parties who had been in the diamond industry for decades, say there’s a change now in March to the regulatory requirements from the US and G7, countries to block all Russian diamond trading. And this is shaking up the industry. It’s the biggest change since the last 50 years in the diamonds markets. And it also shows the change into direction of diamonds as a new investment class where diamonds is perfectly positioned. 

The moment and the key reasons for this is at Tiamonds.  You can buy diamond and you can then sell it, trade it, send it to somebody else on another planet or another country on our planet, and without moving the underlying assets. So the Diamond is stored, safeguarded, insured, all in Liechtenstein in a high security vault. And you can trade it, move it, hold it, without paying any import taxes, without paying FedEx and DHL to send it or pick it up yourself or whatever. So all the transport is gone. And as you’re not importing it into your country, this VAT and import taxes and everything is not applying. You probably heard about these tax free storage zones where large paintings are stored. So that’s very similar to this.

So highly, highly interesting. And Tiamonds is growing. I said there will be like 3 to 500 new stones coming in next soon, period. I know that we are getting them in stock already and then being launched. And there will be also some announcement during the Dubai blockchain weeks upcoming. That’s on timings. Rico, should we speak about Master decks as well?

Riko Crypto, Moderator

Yeah, of course, why not? Everyone’s interested.

Monty Metzger, CEO

So with Masterdex, I think first of all for our LCX community, you are at the forefront seeing the project growing step by step. Coming out of the DeFI terminal which we launched at LCX, and now having your own brand, own token. And with the initial loyalty packages to LCX community, you already have a stake in the project. But now it’s the moment for AI and web3 to be combined and shine. And that’s what we are now leveraging as well. So I can tell you that this week there will be an update for community engagement and a community sale coming up.

The product is also ready to launch, so there will be a better release. And for all of this, I recommend to go to at Masterdex. XYZ on Twitter and follow us on our channel. There will be separate announcements by the team there and it’s really leveraging the opportunities of getting discovered as a new project. Monitor your portfolio and then trade instantly and also get the best executing trades, especially this discovery phase.

It’s solving a big problem in the market. Every project is trying to get attention and

we are now delivering a platform where as a web3 project you can be discovered.

But you can also use the Crypto II ranking to be mentioned or you can buy advertising space to be on top. And this is only be payable with MDEX token. So combining crypto AI and kind of doing what Google had been done in the past and adapting it to a web3 world. So that’s why probably like teasing a little bit. You will also see in the product a complete new experience with just one search bar at start. So the only thing you will see when you visit the platform is a simple search bar. And then you dive into the world of web3.

Riko Crypto, Moderator

Nice to hear that there’s so many things in the works for the bull run. And now moving from the plans, future and roadmap, I want to ask again question from the community, which is more techy, so please address blockchain bonds. Have they been discontinued? We were told that their onchain location will be disclosed last year. The current prospectus is outdated and ended in January. Has this been renewed? Why is the manager looking for work?

Monty Metzger, CEO

So our goal with LCX Earn is to create a regulated product which has been approved. And this is what we achieved after two years of work to get the prospectus done. Approved, it’s called, endorsed by the regulator in Liechtenstein and then passported across the 30 countries. The investment period is always for one year and then it’s extended. We got the approval, like last year and now the investment period has ended for this. And there’s a fast process to get the reapproval and then extend the investment period for another year. And then we could do one more year or it will be replaced next  year with the updated product.

For now, we’ve applied for this renewal and we were hoping that it was taking a week or so. It’s now pending at the moment. So that’s why all the investors who have invested, they have all their terms, it’s running for seven years maximum. So as long as they don’t terminate or get out of the investment, it will be running. So all the benefits from them. For new investors joining the investment period is paused at the moment and we hope to get you an update as soon as possible. I’m always careful with these announcements not in our hand. Basically, we’ve provided all the information and we’re now waiting the regulator to step up. And reenact the investment period. But for us it’s just like a click in the system, basically re enabling it. Then we’ll announce it and it will be done. But just reflect again, it’s the first and only product of a tokenized bond denominated in bitcoin, ethereum, LCX token and euro with a fixed interest rate of 7%. And especially if bitcoin, if you want to HODL it but still earn some interest, I think very interesting product and we’ve seen the biggest demand in euro with 7% interest rate is pretty good for Europe. And then for LCX token, of course, what we’ve done with the funds is we use it for liquidity providing, and it’s also something which you step by step see on the platform. 

So probably final thoughts. We don’t stop there. So the tokenized bonds and tokenized offerings of financial services is a key topic for us. So we’d like to expand with msome additional products on this side. In addition, we’d like to tokenize anything else, from paintings to gold to any other commodity or other assets which are liquid or illiquid. That’s a key topic where we like to present and position LCX as the new market leader in this. Finally, we want to get them enabled on our platform. So LCX exchange as the core is really on our key priority for us for this year. We don’t want to stay at the position where we are in terms of liquidity and trading volume. We want to list the most promising crypto gems, as Sam said, with the new token sales, we have also lined up additional listings of great products and tokens because our community wants it to trade and we want to be among the leading, leading european exchange and among the top globally really, in terms of trading volume and activity on the platform.

Riko Crypto, Moderator

Perfect. And I have a last question, which is kind of a fun one. I’ve seen it asked a few times, even my YouTube videos, why the hell LCX doesn’t spend money on high level marketing for community growth and make it clear that it’s by far the best project with the highest price potential of all exchanges and RWA projects out there. It will be paid back through price increase. What do you think?

Monty Metzger, CEO

I love the question. So as you all the community members know, at the first three and a half years or so, we didn’t even have a marketing department. It was all focused on regulatory setup platform. Then we got started and I think now you see we are spending more and more on great events, on sponsorships, on market outreach. But also, we are taking it slowly. We want to be still in existent in the next five and ten years. So we don’t burn our cash. We take it slowly, we spend it wisely. 

And the biggest growth comes from excited community members. That’s why we focus on the community engagement. We do the Twitter spaces, we work with community members directly and we engage in community much, much more. So this is something where we can really grow. And yeah, that’s why kind of, we do invest more and more in marketing, but not on stupid sports sponsorings or something where it’s questionable how much it brings, but rather very focused on user growth. 

Riko Crypto, Moderator

Thank you. So actually, these were all the questions we had for today. And as usual, I would like to thank community who joined us today and of course panel members for their time. And I would like to ask everyone listening to leave a comment what do you think we can improve with LCX YouTube channel with these AMAs? What can we do better? Maybe of course, ask the questions for the second and third show and of course, yeah, thanks everyone. See you on the next show.

Monty Metzger, CEO

Rico, before we close up, maybe there’s one more question I just saw from the community, which is great also for Sam. So there is Julio Rico asking, are you actively searching for new projects to list on LCX exchange or do you want him to reach out to you? What is the auditing process for new projects listings? Sam, this is the question for you and very important for us.

Samaksh, Speaker

Yes, Monty, I’m just looking at the tweet from Julio Rico and I can say that we are. Yes, we are definitely looking actively for new projects to know. Our focus has been always to find out the new crypto gems and give it to our community. So that’s why if anyone wants to give us suggestions, feel free to tag me and give us suggestions. But you can also reach us at [email protected]. The process is very simple, so we are very much in compliance and regulations. So we look at the team, their background and what the project is all about. We are more excited about infrastructure projects, RWA projects, any trending projects. 

We are definitely open to bring them on board to LCX and I can assure you it will be a very quick and simple process for you guys. So if you have any suggestion, or if you are a project owner who wants to list on LCX, please feel free to tag me. Or please feel free to reach us at [email protected]. And I can also share this with the community. The major thing for us is we are looking to give you a variety and also a quality of assets on the exchange. And our team is in constant dialogue with all the big cap projects, small cap projects, and there will be a very boom of listings in the coming weeks on LCX. So please keep your eye on out for that and follow LCX so you’ll always stay updated on the new listings. Thank you again.

Riko Crypto, Moderator

So I think now we have all our questions answers again, quick reminder, don’t forget to follow all the social media profiles. Don’t forget to subscribe to our YouTube channel where we have weekly LCX insight show with me as a guest. And of course see you on the next AMA. Thank you everyone. Thank you. Thanks everyone. Bye