Hey guys,
Most of you probably know me from Stratis. Normally I don’t do a lot for other projects, however I made an exception for Legolas Exchange.
Just a small heads-up over 40,000 people already subscribed for the ICO. So before you read all of this, be sure to register first! You can do that over here.
In this article I will tell you more about the upcoming ICO of Legolas Exchange. The topics of this review are:
- Current problems of exchanges?
- What is Legolas Exchange?
- How is Legolas Exchange trying to solve the current problems?
- The team
- Partners
- Timeline
- Social media
- LGO Token
- Token sale information
- LegolasVote
Disclaimer: Never take anything I say (or anyone else on the Internet says) to be investment advice. Consult with a professional, and extensively do your own research before ever investing into anything.
Current problems
We all know there are a lot of problems in this new crypto world, which we are all facing together. It’s time for a change and I believe Legolas will lead the way. A few of the problems we currently face are:
- There is no existing trusted, transparent and secure platform for the ‘old institutional money’
- Millions of Bitcoins have been stolen since the beginning of Bitcoin
- Market manipulation
- No large fast and secure fiat transactions possible
- Exchanges are free from accountability most of the times
About Legolas Exchange
Legolas describes itself as ‘The first demonstrably fair premium exchange’.
Legolas Exchange incorporates a decentralized ledger within its proprietary centralized platform in order to neutralize front-running and guarantee the unalterability, temporality and transparency of the order book.
Legolas Exchange’s unique hybrid model and strategic partnerships provide a fair and secure trading environment in which every type of transaction, intra-chain, cross-chain and crypto/fiat, is executable.
Thus, unlike fully decentralized exchanges, Legolas can cover 100% market share with full transparency and security.
How is Legolas Exchange trying to solve the current problems?
- Secure wallet, at Legolas you control your own coins. They will achieve this with their strategic partnership with Ledger
- Provably honest and fair, Legolas neutralizes front-running and market manipulation, ensuring a fair and honest trading environment
- Large fiat transactions, Legolas has a unique partnership with Makor which ensures scalable, reliable, fast and secure large fiat deposits and withdrawals
- Transparent, using Blockchain technology, the platform is designed to provide auditable trade history and order book, real time proof of reserve and complete reporting
Team Legolas
I want to highlight two people on the team of Legolas.
- Frédéric Montagnon is the CEO of Legolas Exchange. Frédéric is an accomplished entrepreneur and investor with 20 years of experience. He has founded and exited four companies for a total value of more than 400 million USD. He is ranked as the 7th largest start-up investor in France (https://www.challenges.fr/start-up/start-up-les-conseils-du-top-30-des-investisseurs-franc ais_432943) and has been involved in cryptocurrency as an investor since 2013. He is a well-known blockchain influencer and his commentaries have been published multiple times.
- Ouziel Slama is the CTO of Legolas Exchange. Ouziel was a major contributor to Counterparty and the principal software manager at Symbiont.io. He has been an advisor and blockchain developer on several successful crypto projects. An Internet entrepreneur for the past 20 years, Ouziel has been a code-lover for... forever! He has extensive expertise in time-stamping and copyright protection.
You can find the full team on the website.
Partners
Legolas has partnerships with:
Timeline
Legolas is aiming for a beta version of their exchange in Q1 of 2018. The beta version will be available for large institutions at first. They will gradually open the platform to more users as they go and release newer versions of the exchange. And of course they will prioritize users who participate in the Legolas token sale.
Social media
You can find Legolas Exchange on:
- Github (most of it isn’t public)
- Telegram (announcement only)
- Medium
- Bitcointalk
- Discord (team and community)
- YouTube
$LGO Token
In any ICO one of the key things to research is the usability of the token in the project. You should be asking yourself if a project really needs a token. If your answer is no, I would stop looking any further.
The $LGO token has a real usability on the Legolas Exchange. The $LGO tokens are used to pay the trading fees on Legolas Exchange, similar to existing concepts like Binance ($BNB) uses.
25% of the generated fees will be given to market makers in order to incentive them to add liquidity to the exchange, 50% will go to Legolas Exchange and 25% will be burnt.
Furthermore the LGO tokens enable holders to participate in votes, as to which altcoin should be added next. The amount of your LGO token holdings will define the weight of your vote.
You can find a full article about the usability of the $LGO token over here.
Token sale information
The details of the token sale:
- Total hardcap of 3.504 Bitcoin (around $35 million)
- The presale of round 0 and round 1 is sold out for a total of 1.504 Bitcoin
- The ICO has a hardcap of 2.000 Bitcoin
- ICO starts on February 1, 2018 at 12pm GMT
- Minimum amount to invest is 0.0001 Bitcoin
- Maximum amount per investor is 20 Bitcoin
- People from the US are not allowed to participate in the ICO
- KYC / AML is mandatory
- 5% Holding bonus each 6 months (20%) in total
- You will receive your $LGO 2 weeks after the ICO
- $LGO is an ERC-20 token
- Over 40,000 subscribers for the ICO
- First come first served!!
LegolasVote
Legolas Exchange thought of a smart way to market their token sale. Every investor can vote for their favorite altcoin in order to get them listed on the Legolas Exchange. Of course you guys know which one I picked ;).
You can find the live results over here.
Conclusion
It’s time for this new world to evolve in terms of transparency, security and fairness. In my opinion Legolas Exchange will lead the way.
Regarding investing, I never give any advise and I never will. Of course I will tell you why I like Legolas myself:
- A gamechanger in this new world
- Hybrid exchange with best of both worlds (centralized and decentralized)
- Transparent, fair and secure using hardware wallets
- At Legolas you control your own coins
- $LGO token has great usability
- Large fiat transactions
- Legolas neutralizes front-running and market manipulation
- Performance of other exchange tokens in terms of ROI ($BNB), you can find a full article about a Legolas compared to other Exchange Tokens over here
- Experienced team and advisors
- Partnership with Makor and Ledger
- Fair hardcap (3,504 BTC around $ 35 million)
- The fact they have a beta version coming (Q1) and a V1 release in 2018 (Q3)
It’s important to always do your own research, I am happy to give you the tools:
If you want to invest after you did your own research, you can register for the ICO over here.
Cheers,
Khilone
https://twitter.com/Khil0ne
The material contained in this article is not to be regarded as an recommendation to buy or sell or the solicitation of any offer to buy or sell securities in any jurisdiction where such an offer or solicitation is against the law, or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so. The information on this document does not constitute legal, tax, or investment advice. You must not, therefore, rely on the content of this document when making any investment decisions.
