We are delighted to notify you that LCX will manage the $TANG Token Sale through our compliant token sale platform. Tangent has chosen LCX as its exclusive token issuer to execute a compliant initial coin offering of $TANG tokens. It honors the commencement of LCX and Tangent’s strategic alliance and partnership.
From the get-go, Monty and the LCX team have understood and supported our vision of bringing utility to the NFT scene on Cardano. Their professionalism and experience has made the on-boarding process a smooth one. We are delighted to partner with LCX exclusively, for our fully regulated token offering – Ben Gordon – Co-Founder & GM, Tangent.
Tangent is a unique project built on top of the Cardano blockchain and we’re excited about this partnership to issue $TANG tokens,” said LCX’s CEO Monty Metzger. “LCX is experiencing one of its most prolific eras of innovation and new product development in its history. $TANG token will function like most other native Cardano tokens.”
Another new exciting token is being launched exclusively on the LCX Token Sale Launchpad.
The $TANG token sale will be managed by LCX’s Token Sale Manager, which will include knowing your customer (KYC), anti-money laundering in accordance with investor onboarding, and blockchain analytics (KYT) standards. Tangent manages the $TANG token sale in a compliant manner by leveraging LCX’s extensive token sale manager and crypto compliance suite. Tangent’s private and public sale rounds are being handled by LCX.
As the official token issuer and token sale manager for $TANG, LCX will plan the legal factors and register the sale with the regulator. In conformance with our registration with the Financial Market Authority and regulatory approvals, we are managing several key aspects of the token sale. The white paper, terms of the $TANG token sale, and an independent legal opinion from a credible law firm categorizing the $TANG token as a utility token will be included in the notification to the regulator.
Tangent is on a mission to develop a unique solution to bridge the gap between Non-Fungible Tokens (NFTs), finance, and tangible real-world asset classes, given the Non-Fungible Token (NFT) industry’s explosive expansion and widespread blockchain usage. The Tangent DeFi app will be a permissionless platform where investors, artists, and all other parties can stake, get incentives, and experiment with innovative NFTs on the Cardano blockchain in a secure and sustainable manner.
Tangent feels that the platform should ultimately become independent and community-led. To achieve this objective, they have designed the TANG token as a governance token whose primary function will be to actively steer Tangent towards self-sustainability and shared community ownership. The token has been issued on the Cardano blockchain and will be a tradable asset that behaves similarly to the vast majority of other native Cardano tokens, except that it can also be used as a voting mechanism.
TANG holders will be able to directly participate in governance by voting on ideas pertaining to the token’s development and usage, as well as the future of the Tangent platform. Any proposal that meets the governance protocol’s proposal requirements will be eligible for a vote by the community.
Find out more about the Tangent at https://tangent.art/
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.
Legal Disclosure: LCX is a regulated entity and gained regulatory approvals as a token generator, token issuer, exchange service provider, price service provider and other legal roles according to the Liechtenstein blockchain act. LCX is acting as a trusted technology service provider for this token sale. LCX and Monty Metzger are closely involved in getting compensation and fees paid in the project token and other assets. From time to time we will engage in transactions of our own tokens.
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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