What Is LCX?
LCX is the native token of a trading platform that goes by the same name. It was founded in 2018. The platform offers customers a range of trading options that let them purchase, sell, trade, and store digital assets. If you're curious about the current LCX price, check out the LCX price chart above.
The main project of the platform is a decentralized crypto exchange (DEX). “LCX” itself stands for Liechtenstein Cryptoassets Exchange. However, besides that, it has numerous other projects, including:
- Fire Salamander. It’s a DEX aggregator that allows users to either make quick swaps or construct limit orders on various DEXs.
- Token Sale Manager. LCX allows projects to hold various token sakes, initial coin offerings (ICOs), or other types of offerings.
- LCX Terminal. It allows users to trade their assets on several exchanges through one interface.
- The Liechtenstein protocol. It’s a blockchain standard that enables Security Token Offerings (STOs) and tokenization. It’s configured to automatically enforce particular conditions relating to legal and regulatory requirements relevant to securities. Besides that, it enables automated compliance of the tokenized asset with built-in specifications.
- Tiamonds. It’s an NFT market of assets that are backed by real diamonds. The diamonds are stored in a vault in Liechtenstein. Tiamonds NFT owners receive 1 million TIA tokens just for owning the NFTs.
- LCX Smart Order. It’s an automated smart order routing system. It executes trades at the best prices by utilizing advanced algorithms that help to compare prices on various crypto exchanges.
Use Cases of LCX Tokens
LCX tokens are primarily used to cover all network costs on the LCX platform. This includes subscription costs for LCX Terminal, exchange fees, processing fees, and other LCX fees. However, holders of LCX tokens receive a 50% reduction on transaction costs.
Besides, in addition to being a means of fee payment, LCX tokens are also designed to reward users that contribute to the LCX ecosystem.
Keep in mind that the LCX price is erratic if you plan to buy any LCX crypto assets. This essentially happens because, similar to how it affects the pricing of other digital assets, the volatility of the entire crypto market has an effect on the LCX price as well.
