A curated recap of everything that happened at LGO over the last month!
- LGO Tokenomics Update
- New Web User Interface
- New Release: Credit line and post trade settlement
- LGO Technology Explained (1/3): The LGO Platform
June was an important month for LGO. Almost 18 months after the first trade on our spot exchange and 6 months after the first trade on our OTC platform, we’ve made decisive improvements to our technology and processes to simplify the trading experience of our clients, such as the implementation of a new web user interface and the release of the 2nd version of our spot exchange.
Most importantly, we’ve been able to develop new tokenomics for the LGO token. Starting mid-July, LGO will use 100% of the USD fees generated by the spot exchange to buy back by LGO tokens. We are proud to renew our commitment to our token holders, who made the LGO vision possible.
We have recently made a change in our token’s buyback policy. Starting July 15th 2020, we will buy LGO tokens worth 100% of the USD-denominated fees generated by our spot exchange on a daily basis. Also, we will use 25% of the net fees earned by the exchange to repurchase and burn LGO tokens on a monthly basis. This measure will strengthen the alignment of interests between LGO, our clients and our token holders. We are glad to be able to renew our commitment to our tokenholders by transferring 100% of the value created by LGO to the LGO token.
Read more about it here.
New Web User Interface
We are very excited to announce that we have launched our very own Web User Interface. Similar to our Desktop application, the Web User Interface allows LGO clients to trade on the LGO platform by connecting directly from their web browser and accessing the Web User Interface. The platform provides a user friendly experience without sacrificing any aspect of our platform’s security. We've dedicated an announcement to the new Web UI for further specifics.
New Release: Spot Exchange v2
The first version of our spot exchange was released in March 2019. We’ve been able to demonstrate the quality of our technology through battle testing: a throughput of more than 1,000,000 transactions per second, a minimal latency of ~2ms and a public and transparent audit trail on the Bitcoin blockchain (see our LGO Node).
After almost 18months of operations - and not a single failure of our execution engine - we are proud to release the second version of the LGO spot exchange. The platform is now more performant, stable and most importantly extremely nimble, allowing us to adapt to our institutional clients needs. For example, credit lines and post trade settlement logics are now included in the platform, making it straightforward for actors like prime brokers and market makers to integrate to LGO. This platform release will allow LGO to be at the forefront of the exchange industry, with a technology that can accompany the most recent developments in crypto markets.
LGO’s Technology explained
Being an institutional grade exchange requires us to set higher standards for ourselves. Since our inception, we have committed to providing industry-best efficiency and security on the LGO spot exchange. The question is: how do we do it? In order to answer such a question, our tech team has released a series of papers that explain how the LGO spot exchange provides efficiency and fairness for all of its participants, and how its technology compares to other popular exchanges in the crypto-ecosystem.
Discover the first article of the LGO Technology Explained series!
In the media this month
LGO was featured in the press multiple times this month! Hear from our CEO and more in the featured press releases below.
Bitcoin Falls More Than 8% As Crypto Markets See Red ; Forbes Magazine
Videos & Podcasts