Moving into 2022, the immediate highlight is on our business focus for this year to propel the Company forward.
As the world starts to consider Web3 as the potential future of the Internet: buzzing with NFTs, Metaverses and a Creator-first Economy, we feel the time is right to announce our transition to a more exciting platform.
To facilitate this transition, the Company will be moving its current trading platform to a private, commercial business-to-business (b2b) offering.
Moving forward: we will no longer be providing real-time market data and AI-guided (FairSense™) pricing for free to the public via our p2p options matching feature.
These features will instead be available on a paid subscription basis to businesses and institutions, and indeed we have already signed on several business entities. Users that are using the platform for its wallet features or have embedded their wallets will be advised to import/backup their wallet to a dedicated wallet application at the soonest.
However, rest assured we will be maintaining the wallet infrastructure until it is safe to discontinue it.
Our new platform will now be focused on delivering best-in-class Web3 features, combined with in-App and in-Chat OTC trading features for all manner of digital assets such as coins, tokens, and NFTs.
Our current native token (LVX) will continue to be accepted as a utility token and will also be able to be swapped for the new platform’s Proof-of-Action(PoA) token upon its launch.
Stay tuned to our social media channels for more information, as we prepare our platform for an imminent soft launch and showcase.
Over the past year, we have been working hard to launch our securities token offering. Along the way we have met with regulatory hurdles regarding our business scope, user base, and jurisdiction coverage.
While certain compromises can be made to achieve our STO, it is not in our stakeholders’ favour.
This has prompted us to re-evaluate our business plan as certain milestones cannot be achieved without the STO progress.
The company is actively pursuing other liquidity options and is looking at SPACs as a viable and even better alternative to the STO.
We are excited to be part of the exponentially growing Web3 pioneering companies and will strive to lift the company to a different level yet again this year.
Jonathan Loi
Chief Executive Officer
Level 01 Technologies Limited
