The blockchain space is like tech on steroids. Everyone is rushing to be the first to market in their field and it’s clear to see why. It makes a huge difference.
Cryptocurrency users are always asking for more, more, more. Desperate for new products, higher leverage, additional trading pairs, innovations they haven’t even though off and a hell of a lot more.
Due to this dynamic, the first mover has a significant advantage. People are naturally drawn to the providers that output solid, next-level products that aren’t available elsewhere. That’s just how it works.
LCX knows this. That’s why they are laser focused on strong, efficient execution. In their own words, they are ‘mastering the art of execution’. From their progress in Q2, it’s evident that LCX could be a force to be reckoned with in the exchange field.
For the uninitiated, LCX is a trading platform with numerous features that make traders much more effective by putting everything they need in one place. The exchange also uses advanced technology to execute trades on your behalf across 16+ exchanges with minimal latency to find you the best price and liquidity available on the market.
With that said, LCX has made impressive strides throughout Q2. Let’s take a look at what they’d achieved.
Numbers don’t lie, and LCX’s reported figures for Q2 certainly look healthy. They generated 43% more revenue in Q2 compared to Q1, a total of 1,411,400 LCX tokens. This growth is likely due to the increase in user base to almost 60,000, a 350+% growth from Q1.
Security Token Launchpad
One of the most hotly anticipated products from LCX is the Security Token Offering Launchpad. It’s been teased a lot, and LCX users are waiting no-so-patiently, extremely keen to get their hands on it.
At the end of May the LCX team hosted a blockchain session with one of their advisors, Miko Matsumura. After a platform overview, the STO Launchpad was announced. There’s no date yet, but the LCX team has confirmed it’s on the way. Even better is they have announced an influx of interest. LCX says they have signed two new Security Token Projects valued at a double-digit millions USD and in total the STO pipeline exceeds $100 million USD.
LCX Terminal Expansion
A new exchange, CEX.io, was integrated with the LCX Terminal, bringing the current total to 16 different exchanges you can connect to and trade with at once through the LCX Terminal interface.
The team also added the functionality for you to pick your favourite trading pairs, so it’s nice and easy to find your preferred trading spots now. To add to this, the News Desk was upgraded to improve general usability and also to add a search feature, so traders can stay even closer in-tune with the markets.
Finally, the reporting section of the Terminal got an overhaul, vastly improving the available features. There’s more available data and automated reporting, making it more powerful yet simpler to use.
Token accessibility is hugely important, which is why LCX updated the process of buying LCX Token at LCX.com to make it simpler and more efficient. They also released a large security update for the LCX reserve tokens. The 100 million LCX tokens have been moved into deep cold storage until June 1 2023.
Furthermore, LCX was listed on five new exchanges: BitUbu Exchange, Coinsbit Exchange, Bidesk Exchange, HitBTC Exchange and UniSwap Exchange.
Partnerships in crypto are key, so it’s great to see that LCX secured a number of strong partnerships in Q2 2020:
- ICON Foundation – LCX and ICON Foundation agreed to work closely together to develop new standards for tokenized assets and explore how LCX could interconnect with other blockchains utilizing the ICON network.
- System9 – LCX and System9 partnered to roll-out market-making and join together for product development and growth initiatives.
- International Token Standardization Association (ITSA) – ITSA and LCX will work together to establish the infrastructure for compliant security tokens and tokenization of assets
- ZenGo – ZenGo and LCX will join forces to foster mass adoption of cryptocurrencies by simplifying the LCX Token user experience and future security token offerings.
- LunarCRUSH – LCX and LunarCRUSH have teamed up to improve the quantitative and qualitative research data to make smarter trading and investment decisions for the crypto market.
In just three months LCX has shown they’re determined to be a contender in this ecosystem. They’ve built a number of impressive partnerships, improved their product, solidified plans to release an STO launchpad, achieved strong growth and much more.