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LCX Token

1. What is LCX Token?
2. Are there any legal protections for the holders?
3. What are the benefits of the token?
4. What are the risks?
5. Are LCX tokens burned?
6. Are token burns published and communicated?
7. Is there any buyback in place?
8. Is there any profit sharing?
9. What are the use cases of LCX Token
10. Where can I store LCX Tokens?

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What is LCX Token?

The LCX Token is a utility Token which may be used to pay all fees associated with the services offered by LCX AG. The LCX Token can be used as a voucher to pay fees, such as fees for LCX Terminal subscription; fees for custodian solutions LCX Vault; fees for exchange transactions for all crypto assets; exchange fees for fiat-crypto-fiat transactions; processing fees; and other fees within the LCX ecosystem.

Learn more at – https://www.lcx.com/lcx-token/

 
 
 

Are there any legal protections for the holders?

Contractual relationship, some parts of the Liechtenstein Blockchain Laws (TVTG) and consumer protection laws may apply.

 
 
 

What are the benefits of the token?

LCX Token entails LCX users to lower fees for LCX services and products such as discount on fees for LCX Terminal Pro Subscription as compared to paying in USD, a potential increase in price due to increasing demand from cryptocurrency traders.

 
 
 
 
 
 

What are the risks?

Limited legal rights, illiquidity, loss of all rights in case of project shutdown, severe volatility in the price, loss of access to private keys, cybersecurity risks related to blockchain.

 
 
 

Are LCX tokens burned?

Yes, LCX will burn 100% of all $LCX tokens, which LCX receives in the payment process of the utility Token on their platform in accordance to our Token Economics. 

 
 
 

Are token burns published and communicated?

Yes, as LCX is accumulating LCX tokens ($LCX) over time and we have implemented a transparent and verifiable mechanism to burn $LCX token in order to reduce the supply of tokens in the ecosystem. LCX will burn 100% of all $LCX tokens, which LCX receives in the payment process of the utility Token on their platform. LCX will burn these tokens on a quarterly basis and publish the number of tokens burned. As a result, the supply of $LCX will decrease over time as the activity on LCX increases.

 
 
 

Is there any buyback in place?

LCX does not have a buyback mechanism in place rather a Token Burn.  LCX will burn 100% of all $LCX tokens, which LCX receives in the payment process of the utility Token on their platform in accordance to our Token Economics. 

 
 
 

Is there any profit sharing?

There is no profit sharing in place for LCX Token Holders.

 
 
 

What are the use cases of LCX Token

The LCX Token ($LCX) is an exchange based token and utility token of LCX, the Liechtenstein Cryptoassets Exchange.

 

Current Use Cases:

 
 
 

Where can I store LCX Tokens?

LCX Token can be stored directly at your LCX Account at LCX.com where we take care of security and safeguarding as a custodian.

LCX is an ERC20 Token, hence any ERC20 compatible wallet works for storing it.

We recommend using the ZenGo wallet, which is a super simple but highly secure mobile app.

For more sophisticated users, we recommend Ledger’s Hardware wallet.

 
 
 
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