A week in crypto space may seem like a lot of time with all the parabolic movements that can be possible regarding the price, but in development, things move a bit slower. It may seem like P-reps aren’t providing much while in reality, they are working really hard behind the scenes. Here we will present one of our current projects.
DeFi space
Ever since blockchain was first introduced with Bitcoin it was meant to give control of money back to the people by decentralizing the finances and removing the need for third parties involved. Decentralized finances seem like a natural fit for blockchain application as it provides a trustless and transparent system without any intermediaries required.
Today we want to present one of the current projects we are working on that is the start of a bigger DeFi platform for the ICON ecosystem. As we can’t build whole DeFi infrastructure by ourselves we will be collaborating with other P-reps trying to provide similar things and connect everything so that Iconists can enjoy a simple interface with a lot of use case possibilities.
The LICX token
With the recent discussions of bringing more exchanges to the ecosystem, we want to bring a solution that will provide the liquidity of ICX as well as the possibility to stake at the same time without compromising the security of the network, this way we can balance the advantages of staking on exchanges and prevent too much power being transferred to them. We have decided to implement an IRC2 token called Liquid ICX (LICX) that will be the base of our DeFi solutions on the ICON network.
In 2017 there were a lot of ERC20 tokens issued on Ethereum blockchain but many of them were useless and had no purpose at all except gathering money for the project. We will avoid all of that by providing use cases right at the release of the token and no token sale. LICX price will be pegged to ICX and there will always be a possibility to exchange the two in a decentralized way.
For more information about the project join us in our telegram group.
We would also love to get any suggestions and feedback on any of our projects so that we may really build for the community.
Our Tools
- ICX Stakr (Staking Calculating tool for ICONists)
- Whale watcher (Vote distribution visualization)
- ICON Europe Voting dApp (Beta)
Our Channels
Website, Twitter, Medium, LinkedIn, Telegram
More about us
block42 is a blockchain solution provider developing applications on top of most recognized blockchain frameworks like e.g. Ethereum, Hyperledger, ICON and many more.
