Legolas Exchange offers a number of solutions for known concerns and issues which is currently experienced by existing trading platforms. It aims to create a decentralized blockchain protocol that would provide full transparency and would prevent front-running market manipulation.
The Legolas Exchange appears to be the first ‘provably fair and honest’ premium trading market for cryptocurrencies.
How do i earn?
By participating in the ICO you will receive LGO tokens depending on the amount you would get. The LGO tokens will be used to fuel the Legolas Exchange trading platform.
You can either hold on your tokens and wait for the value to go up or you can trade the tokens or you may also receive a bonus by holding for 2 years.
- Priced @ 0.00005 BTC per LGO
- BTC will be the only currency during ICO
- Total of 174,214,285.71 if cap is reached
- KYC/AML will be conducted after the ICO period
- Why the name Legolas? — An elf is a symbol of speed, purity and transparency as per their FAQs.
8 core members and 5 advisors – all experts in their own fields and they have full time developers. As always, it is important for an ICO or for any project to have transparency towards their investors, this is achieved by letting the investors know who runs the project.
• PREVENTING MARKET MANIPULATION
Be it in the crypto-world or the real world, in stocks or in cryptocurrency trading exchanges – we all know that market manipulation is happening. One of the goals of Legolas Exchange is to prevent Market Manipulation. With this, it means that there is unbiased market trading, can most likely reduce pump and dumps.
• SECURITY & IMPROVEMENTS
We’ve all heard of crypto accounts and trading markets getting hacked/robbed – Legolas Exchange has proposals to provide possible resolution not only towards security but also towards the overall development of exchanges. Check their detailed proposals in the whitepaper.
Legolas Exchange has partnered with known companies like Makor-Group and Ledger. And Legolas Exchange aims to be partnered with big institutions, especially those along in the financial technology companies.
• LARGE FIAT TRANSACTIONS
This somehow says something about Legolas Exchange – this would surely attract big institutions on investing into the Crypto World. Given the brokerage that will back Legolas Exchange has big and known clients, this can certainly funnel big ballers in the exchange.
• 2-Year Holding Bonus
For the hodlers or those who have a strong hodling game, this might be your opportunity to ride on a big project and will offer rewards. This is only applicable to those who will not sell the tokens that they’ll get from the ICO.
The team of Legolas Exchange has stated that they will be conducting their KYC/AML checks after the ICO period. The response we have received from them is that, due to practical timing issues. This could be a hassle for those who will invest and get denied due to KYC/AML checks, as not only it would consume their time, it’s also a waste for other ICOs which they could have hopped in to.
• HYBRID — CENTRALIZED / DECENTRALIZED
This is definitely something new for the Crypto World, an exchange that will be both centralized and decentralized. Knowing that this is backed up by Makor Group and is compliant with regulations, we can probably assume that once you are flagged, your account might be placed on hold until review is done.
• ICO QUESTION
This is not really a con/negative feedback but this is more like of a question which we have encountered while reviewing. This is probably one of the few ICOs that will only accept BTC during the ICO but will be distributing tokens via the Ethereum platform.
(4 out of 5)
We can compare the usage of the LGO tokens with Binance coins. Binance is a platform that have their own coins that users would use when trading (trading fees, transaction fees, commissions). Overall this is a great project that will surely pave way to bigger investors and would reel big pockets towards the Crypto World. With it’s main purpose, which is to prevent market manipulation, we can surely ensure that trading can be fair to everyone participating. But as always, please be careful and please be cautious in your investments towards Initial Coin Offerings or ICOs as ICOs are highly speculative.