LordToken
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| ISIN | 🆔 |
|---|---|
| Industry | Cryptocurrency exchange |
| Founded 📆 | |
| Founder 👔 | François Denis, Nicolas Fortier |
| Headquarters 🏙️ | , France |
Area served 🗺️ | |
| Services | Cryptocurrency exchange, launchpad, automated dollar-cost-averaging, copy-trading, NFT marketplace, 24/7 support |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
LordToken is a centralized cryptocurrency exchange powered by Binance Cloud. It is owned by Lord Services, a company headquartered in France and founded by Nicolas Lefortier and François Denis in September 2020.
The company launched its digital assets trading platform in March 2022. Simultaneously, it issued the LTT utility token as the heart of the LordToken ecosystem.
History[edit]
Team[edit]
François Denis and Nicolas Lefortier are co-founders. The legal team is composed of lawyers Daniel Arroche, Stéphane Daniel, Margaux Frisque, and Laure Landes-Gronowski. Olivier Chabert and Nicolas Hersog are the blockchain and digital experts.
Funding[edit]
LordToken was initially funded by angel investors and later through an Initial Coin Offering.
A strategic sale took place in February 2021. Lord Services raised 1,419,600 Euros in a first round of financing through the issuance of 2,028 convertible bonds in accordance with French regulation applicable to public offerings of financial securities under 8 million Euros.[1] Each bond bears interest at 12% until conversion on February 15, 2026, at which time it will represent 0.01% of the issuer's capital. If all bonds are converted, the subscribers will own 20.28% of Lord Services shares, while Zeus Investments (Nicolas Lefortier) and FM Holding (François Denis) will each own 39.86%. A portion of the amounts raised (800,000 USD) was exchanged for the first 2% of LTT supply, priced at 0.02 USD.
The Initial Coin Offering occurred in two phases: from October 18th to November 3rd, 2021. The next 5% of LTT supply was purchased at 0.03 USD (with vesting conditions) during phase one and raised 3 million USD. The second phase of the ICO raised 10 million USD for 10% of LTT supply priced at 0.05 USD (without vesting conditions).
Roadmap[edit]
Fundraising, LTT token issue & sale, and exchange launch are complete. The auto-trade application is scheduled for the end of the first trimester of 2022. In the second term of 2022, LordToken plans to integrate a fiat currency ramp, allowing customers to bring legal tender onto the exchange instead of only depositing cryptocurrencies. The launchpad application is scheduled for the third term of 2022[2]. Traditional banking services will be added in 2023.
Products and Services[edit]
Exchange[edit]
LordToken's unique value proposition is to provide premium customer service on a regulated exchange while benefitting from the market liquidity of the world's largest cryptocurrency market (Binance[3]). As a Binance Cloud partner, it provides a vast array of trading pairs.
Cryptocurrency[edit]
Like other exchange and utility tokens, the LTT is meant to foster fidelity with the exchange's customers. LordToken will reduce trading fees for LTT holders as well as provide them with exclusive services such as the Launchpad, a virtual birthplace for other tokenized assets. Airdrops and contests will reward LTT holders, and the token should feed affiliate programs and pay partners. Staking and burns are provided for in the project's whitepaper.[1]
LTT currently trades in the LTT/USDC pair on LordToken Exchange and PancakeSwap.
Legal Status[edit]
Some popular exchanges like Binance lack licenses in the countries they operate and declare having no head office in order to skirt regulation[4]. The absence of regulatory clarity impedes corporate and mainstream retail adoption of the nascent crypto financial industry.
France[edit]
LordToken aims to capture this potentially growing market within the European Union through adherence to French regulation. LordToken strives to be fully compliant with French legislation for markets in digital assets, specifically the "PACTE law" #2019-486 of May 22, 2019[5]. Article L54-10-4 of the Code monétaire et financier[6] (securities legal framework in France) prohibits any business from engaging in custody of digital assets, purchase/sale of digital assets against legal tender, exchange of digital assets for other digital assets, and operating a digital asset trading platform (Prestataire de services sur actifs numériques or PSAN).
The aforementioned laws apply to companies which exploit a business in France or which explicitly solicit the French public. As LordToken has a registered place of business in France[7], it does not communicate or advertise in French and applies a strict KYC (Know Your Customer) validation process to identify who accesses the trading platform.
Consequently, LordToken is applying for PSAN registration. In the meantime, because the exchange is based in France, it has blocked access to French citizens at exchange launch, pending certification. The company will accept French customers once it is recognized by the Autorité des marchés financiers as a digital assets service provider.
References[edit]
- ↑ 1.0 1.1 Nicolas, Lefortier (10 November 2021). "[ENG] Lord Services - Information Document". LordToken. Archived from the original on 21 March 2022. Retrieved 21 March 2022. Unknown parameter
|url-status=ignored (help) - ↑ Lefortier, Nicolas (March 21, 2022). "Pitchdeck EN LordToken". LordToken ICO. Archived from the original on March 21, 2022. Retrieved March 21, 2022. Unknown parameter
|url-status=ignored (help) - ↑ CoinMarketCap (March 21, 2022). "Top Cryptocurrency Spot Exchanges". CoinMarketCap. Archived from the original on November 24, 2021. Retrieved March 21, 2022. Unknown parameter
|url-status=ignored (help) - ↑ Kowsmann, Patricia; Ostroff, Caitlin (November 11, 2021). "$76 Billion a Day: How Binance Became the World's Biggest Crypto Exchange". The Wall Street Journal. Retrieved March 22, 2022.
- ↑ République Française (23 May 2019). "LOI n° 2019-486 du 22 mai 2019 relative à la croissance et la transformation des entreprises (1)". Légifrance. Retrieved 21 March 2022.
- ↑ République Française (23 May 2019). "Code monétaire et financier : Chapitre X : Prestataires de services sur actifs numériques". Légifrance. Retrieved 21 March 2022. Unknown parameter
|url-status=ignored (help) - ↑ Les greffiers des tribunaux de commerce (23 September 2020). "LORD SERVICES à MONTPELLIER (889272639)". Infogreffe. Archived from the original on 21 March 2022. Retrieved 21 March 2022. Unknown parameter
|url-status=ignored (help)
External links[edit]
This article "LordToken" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:LordToken. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
