LendingStar Exchange (LSX), the world’s first invoice exchange built on the blockchain, is launching a crowdsale this October. Invoices bought from alternative finance marketplaces around the world will be traded on this secondary exchange.
LSX behaves like a stock exchange, where investors from all walks of life can trade any cryptoassets backed by an invoice. LSX will provide investors with greater liquidity, and grant bitcoin investors greater access to alternative finance investments that were previously traded solely in fiat currency.
LSX allows trading in any fiat- and cryptocurrency, including bitcoins and ethers, and is due for public release in late 2018.
LendingStar plan to issue 70M LST tokens during the crowdsale. Proceeds from the crowdsale go towards the development of LSX on the blockchain and primary marketplace expansion into new countries. If the crowdsale achieves has a maximum cap of 70,000ETH in proceeds, LendingStar will see that it drives business to more than US$6B volume by 2020.
Slava Artamonov, CEO of LendingStar, says, “For every 10,000ETH raised in excess of the soft cap of 20,000ETH, we plan to accelerate trading in the platforms by US$50M.”
LST will be issued on the Ethereum network and purchased in Ether or Bitcoin. LST tokens permit the holder to carry out operations on LSX, when LSX goes live in 2018. LST can be used to issue new cryptoassets on the exchange, or used when buying an existing cryptoasset on the exchange.
“We expect a number of crowdsale investors to become retail investors in our marketplace. If the platform user uses LST tokens purchased on the exchange to pay fees on the platform, this party receives discounts of up to 50% on the payment of these fees,” says Slava.
The LSX Initial Coin Offering starts October 17 (02.00 UTC) and will run for approximately one month. Find out more: visit crowdsale.lendingstar.com.
LendingStar Pacific PTE LTD is a tech-based company registered in Singapore. LendingStar Exchange (LSX) platform is a product of LendingStar. For media inquiries, contact email@example.com.