Legolas Exchange is a French ICO which completed its token sale in Feb 2018 and successfully reached its hard cap of 3500BTC. The tokens were distributed in the first week of march and it is soon expected to hit the exchanges.
Legolas Exchange is actually a hybrid exchange where they want to create a blockchain protocol which guarantees transparency in trades and aims to prevent market manipulation and front running. They're hybrid model combines both features of centralised and decentralised architecture and thing that impressed me the most was that they have Fiat support.
So, now that i'm done with their brief intro; lets talk about the problem with existing exchanges, their solution to the problem, their roadmap,team and their project as a whole.
The Problems:
- The cryptosphere has been infected by unprincipled exchanges which charge exorbitant fees for trades and some get in the dirty business of front-running.
- There is huge lack of security(Mt.Gox hack and the recent nano/xrb hack)
- Large fiat transaction are a pain the the a**
So, what the hell is front-running!?
It's a stupid,unfair and an unethical process where a broker trading an equity in his personal account based on advanced knowledge from his brokerage firm or his clients.
The Solution:
As quoted on the white paper, " Legolas Exchange is committed to creating a trustworthy,
demonstrably fair and bank-backed premium protocol where traders and investors, small
and large, can transact without doubting the integrity and robustness of the platform or its
order management system".
By creating a decentralised ledger within its centralised platform. it prevents the problem of front running and this allows new financial institutions to invest money in the crypto market.
Roadmap:
They release their Beta by Q1 2018 and their V1 release will be in Q3 2018.
Team:
One thing i was most impressed about was their team and how expereicned they were. The main core team members and have 9 talented people advising them. I'll briefly touch on the key members and their experience in their various fields.
Frédéric Montagnon(CEO)~ Serial Entrepreneur and investor with over 20 years of experience in the field and has started and exited 4 companies and is a well known blockchain influencer.
Yaacov Akiba Slama(Principal Architect)~ Industry expert in building secure systems and previously worked at IBM and on the Mozilla project.
Jeremy Bokobza(advisor)~ advising the legolas project and also the blockchain engineer at the Stratis platform.
More infor regarding the team can be found on their whitepaper: https://legolas.exchange/static//public/legolas-whitepaper-en.pdf?v=13
** The Token**:
Their official ticker is LGO and the token will be used for order fees and other services provided on the platform.
Partners:
Makor
Ledger
Hacken
To summarise, i see huge potential in this project and thanks for taking your time to read this long post. If you enjoyed it, do upvote this post and subscribe. im hoping to write reviews on projects that i believe which have a huge potential.
official website: https://legolas.exchange/
telegram: https://web.telegram.org/#/im?p=@legolasannouncements
I bought in the ICO aswell. Do you know if they plan on giving out fees shares to holders, like Kucoin?
I have no clue about their fee shares and they didnt discuss about it when they had a meetup in Seoul.