LAPO is looking to override the negative perception associated with decentralized exchanges by addressing the common challenges facing them and offering a revolutionized crypto trading experience.
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Crypto exchange platforms are in every practical sense the backbone of the crypto economy. Tradable assets require markets to facilitate their movement and that is essentially the role that exchanges carry out. They breathe life into crypto commerce thanks to their conversion services between crypto pairs and crypto to fiat (and vice versa). In keeping with the decentralization philosophy, decentralized exchanges have no central authority in control. Unfortunately, in spite of their obvious merits, such exchanges are often difficult to use and limited in features.
Fortunately, LAPO has set up a crypto exchange platform with a difference in a bid to encourage more trading in the sector and demystify the crypto space for the general public.
LAPO Trading Platform
The LAPO trading platform will be a decentralized exchange offering users the opportunity to trade LAPO Tokens, LAX and a wide variety of altcoins. Unlike most extant sites, the platform will make it possible to execute instant conversions between currencies, both fiat and crypto. Traders will enjoy the opportunity to carry out LAX to altcoin trades, trading between tokenized assets and LAX to fiat trades.
For security purposes, platform users will store their assets in a local wallet, as opposed to storing them on the exchange where they are known to be prone to hacking and theft. This secure storage in a local wallet ensures ease of accessibility when trading and safety at all other times.
While decentralized exchanges have for a long time been faulted on their complexity, even for tech savvy crypto traders, LAPO offers a welcome break from the convention. Placing a heavy focus on user experience, the exchange will offer a flat learning curve for its end users to ensure that even newbies to crypto trading will easily find their way on the exchange. Outstanding highlights of this platform that serve to facilitate quick deals include a high channel capacity and centralized matcher.
Convenient Trading on the LAPO Classic Wallet
Trading will be conveniently accessible on the LAPO Classic Wallet between tokens. What makes it particularly appealing to trade on this wallet is its user-friendly design. Instead of the usual wallet architecture which requires massive blockchain downloads for installation, this lightweight wallet will be easy to install and operate even on mobile devices. An optional fingerprint login enhances security while simple backup and restore features safeguard users in case of device loss.
In the early stages, an easy mining setup will allow network users to mine with ease from their home PCs. And in the future, similar convenience will be accessible on mobile phones.
One of the most notable ambitions of the network is to be the first platform to launch an integrated payment ecosystem which is based on a digital currency. In order to make that a reality, the network is hoping to launch LAPO Bank in the final quarter of 2019 whose key offering will be the LAPO Trading Platform.
So as to make it possible to carry out real-time conversions between different currencies, the bank will need to maintain adequate reserves of all currencies offered on the platform. To this end, it will implement daily and monthly limits for its merchants as well as for overall operations.
LAPO bank will impose fees for all currency conversions to sustain its operations and increase the platform’s revenue stream, comprising a flat rate and a percentage. However, it will be keen to keep this figure lower than the prevailing rates offered by other service providers such as banks, exchanges and credit card companies.
A Stable Blockchain Ecosystem to Back the Platform
Since the LAPO ecosystem revolves around its LAX token, the platform is keen on ensuring stability by protecting this coin against volatility. A Stability Fund powered by Artificial Intelligence has thus been established to manage the effect of artificial market moves like pump and dump schemes. This guarantee of stability inspires confidence in the project as it is a great way to protect investor interest.
Token Sale Details
The LAPO project has a total supply of 100 billion LAX tokens, of which 10 billion have been pre-mined to set up the blockchain. The rest of the tokens will be mined for rewards over a couple of years. From the total number of pre-mined tokens, 3 billion have been made available for a public presale the 3 Stages of ICO. The 1 Stage was run from April to May, the 2 Stage and is scheduled to run until June 1st, 2018 and the 3 Stage will run from June to finish the entire ecosystem.
Further details on the ongoing token sale and the LAPO project are available on the platform’s official website.