LCX is looking to establish a new standard for security tokens and tokenized digital assets on Polkadot, with guidance from Parity Technologies. LCX is operating a regulated cryptocurrency exchange for a variety of digital assets and has launched a powerful DEX aggregator called “Fire Salamander”. Furthermore, LCX has developed its own proprietary blockchain protocol to deliver a future token standard for security tokens called The Liechtenstein Protocol.
In total, LCX will provide the following implementations on Polkadot:
- Security Token Standard on Polkadot: LCX is a regulated crypto exchange and is in the process of building an infrastructure for security tokens and corporate tokens (permission-based tokens) on Polkadot. This includes points included within the technical whitepaper of the “Liechtenstein Protocol”. LCX will prepare the Liechtenstein Protocol for commercial use on the Polkadot Network and launch commercial projects in Polkadot via the Liechtenstein Protocol.
- Parachain for LCX DeFi Terminal: LCX has recently launched the next version of the LCX DeFi Terminal called Fire Salamander. Fire Salamander is a powerful DEX aggregator which currently works on Ethereum blockchain with full integration of Uniswap V3 and 6 other decentralized exchanges. Now LCX will advance Fire Salamander even further and will expand the system by building on top of Polkadot’s Parachain technology.
These implementations will be supported by technical guidance from Parity Technologies. Parity Technologies and LCX are scheduling brainstorming sessions for general research and development for the Securities Token Standard protocol. The aim of the brainstorming session is to exchange and discuss technical and high-level issues among LCX management and the Parity management team. In addition, the team has been providing us technical support for the Fire Salamander parachain.
“The future of decentralized finance (DeFi) is defined by products like Fire Salamander,” said Monty C. M. Metzger, CEO and Founder of LCX. “LCX’s work on Polkadot is an important milestone in our efforts to utilize Polkadot’s Parachain technology to build a custom blockchain framework that is integrated within the Polkadot (DOT).”
“Based on our research, we are the first known parachain candidate managed and created directly by the core team of a centralized exchange within the Polkadot ecosystem. This signifies the commitment of LCX to continually innovate to create products that maximize the potential of Security tokens and DeFi.”