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LXDX Cryptocurrency Exchange will issue shares via the STO
LXDX, a new cryptocurrency exchange will soon be public and will issue its shares via a security token offer (STO) instead of the traditional system initial public offering (I poor initial offer of parts (ICO).
Founded by SpaceX employee Joshua Greenwald, LXDX will join the league of pioneers of companies issuing their shares through STO. With this, investors could buy their cryptocurrency tokens, which will in turn represent ownership shares in the company.
Security Token Offers are the new and improved type of initial offer of coins. These are designed to help blockchain companies fundraise while meeting standards established by regulatory bodies such as Security and Trade Commission (SECOND).
ICO were initially the tool of choice for fundraising among the founders of crypto and their start-ups. But the blatant abuses of the post offices and the ensuing repression have weakened investor confidence, forcing people to avoid them.
STOs differ from ICOs in that they are utilitarian tokens similar to your usual gift cards, coupons or loyalty points, while STOs are actually the "digital" or blockchain version of IPOs. It is interesting to note that the SEC has made it clear through its crackdown that many ICOs are actually STOs, thanks to the intention of their founders and the investors who buy them with the sole intention of keep them until they like them.
Recognizing that this is the case, many ICO chip founders are beginning to properly clbadify their ICOs as STOs and are currently working to comply with SEC regulations.
LXDX Tokens once purchased, it means owning part of the company and investors will also have access to dividend benefits. This series of STOs will include 5 million chips, representing only 10% of the company's ownership share, and will provide investors with 10% of the company's gross income quarterly.
Each token will be sold for 1 €, which will give a valuation of about 57 million dollars at the end of this round of financing. Trade restrictions will also be in place to prevent price manipulation.
Will we see a chip worth $ 1 million soon?
LXDX's COO and co-founder, Will Roman, thinks the world may be about to witness a $ 1 million chip. According to him,
"You will wake up one day, one day not so different and so far away from it, and there will be tens of millions of chips for the trade. You will log into your IB, your TD Ameritrade account. Instead of choosing from around 4,000 shares, you will have direct access to investments in a truly inconceivable number of opportunities. "
"Of course, there will be small businesses, there are already 5 million in the United States alone. But there will also be technology startups, bonds, art collections, real estate projects, usage rights, royalties and, yes, funds that will gather and index all this chaos ahead. "
He keeps on:
"With the proliferation of blockchain technology, we expect an increase in the symbolization of tangible badets such as real estate, commodities and even art. The future of millions of chips is imminent, "added CEO Joshua Greenwald in a press release. "We are excited to give our community the opportunity to enjoy the benefits of a real security token."
Investors interested in the token will need to obtain accreditation from the Malta Cryptocurrency Regulatory Committee before they can invest.
About LXDX
This new stock market intends to begin user registration in mid-November for launch in December 2018. It also hopes to attract the attention of institutional investors currently seeking to enter the market. blockchain space.
Exchange functions will include cryptographic derivatives unique to the platform and avoid socialized loss tokens. Roman says:
"We do not like self-deleveraging nor socialized losses," Roman said. "We are working differently from others in the crypto space; we do not do automatic liquidations. "
He goes on to say that the stock market will differentiate itself by its radical transparency processes, thus eliminating the claims of possible washing trading, and market manipulation, among the other dubious processes commonly used in some cryptographic exchanges.
"With regard to ethics, we operate in a radical transparency and in compliance with all regulations in force. We do not trade in secret on our platform and do not sell your order flows to high frequency stores. We take seriously, let's not even try, the attitude towards laundry trading, pumps and other market abuse. "
He also said the platform would offer a unique solution that escaped most cryptographic exchanges – 100% availability, regardless of market volatility or transaction volume.
"On the technical side, we do everything with our custom hardware in our own data centers. Coded from scratch in C ++, you can buy the best network cards and NIC servers, "he said. "We transmit orders over our entire network in single-digit microseconds."
As for security, he says
"Wherever possible," each LXDX portfolio is secured by multi-signature technology, geographic distribution of private keys, and layers of redundancy to prevent unauthorized withdrawals. LXDX's central systems are hosted in a company-managed data center, not in the cloud. He added that the company "would manage its own clusters to protect against double spending and eclipse attacks."
Although the company obtained financing from private investors such as the Dymon Asia Venture Capital Fund and Arianna Simpson from Autonomous Partners during the first round of financing, the company felt that it was necessary to have access to the funds. a second round of financing to compete in the encrypted exchange market. put on the fast track to become a major exchange in the market. That's why they published their STO.
"The space in which we operate is competitive and expensive, considering all moving parts, both technically and regulatory. We do not seek to be another place of exchange for exchanging cryptographic badets; we are here to win, "Roman said in a statement. "We will be the crypto exchange on which to trade and this requires appropriate capitalization."
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