Some words on the current LGO Token economics and utility.
The LGO Token
The LGO Token [1] was issued in March 2018 by LGO Exchange SAS, a French-based entity. LGOs were bought by more than 9,000 persons in more than 50 countries for a total amount of 3,600 Bitcoins during our Initial Coin Offering in February 2018.
The LGO Token is a utility token:
- Clients can access discounts on the LGO platform by holding LGO tokens
- LGOs can be used to pay for services on our platform
- A portion of the fees collected by LGO will be used to buy back and burn LGO tokens
Some useful links:
- ICO Whitepaper
- The LGO Token smart contract on Etherscan
Where to trade the LGO Token
The LGO token is listed on the LGO platform and on iDex.
LGO Token Economics
We have carefully designed economics linked to the utility of the LGO token and the trading activity on LGO. We are taking an incremental approach in designing those economics, and will revisit them from time to time if the context requires it.
Fee rebates
LGO token holders have access to fee rebates on the platform. By holding LGO tokens, clients can access better trading fees on the LGO Spot market.
The following fee schedule [2] will be implemented on March 2nd, 2020:
Buy & Burn
We will be repurchasing and burning tokens with 25% of the net operating margin generated by cryptocurrency trading on the LGO Spot market.
Previous burn transactions:
LGO is the leading Bitcoin spot exchange for institutions. Live since April 2019, we are trusted by more than 40 institutional counterparties across 15 countries. With a boutique approach we provide a suite of fully customizable services, best in class technology, and deep liquidity.
- The LGO Token is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated or otherwise established in, or a resident of the United States of America, you are not permitted to transact in LGO Tokens.
- Market Makers are not subject to the same fee schedule. LGO reserves the right to create bespoke pricing per client. The fee schedule is subject to change at the sole discretion of LGO. Metrics are computed by LGO on the first business day of each month.
