In July 2020, we announced the update of our token economics in a blog post. Following this update, we’ve started buying back 100% of the fees generated by our spot exchange, generating a 4x increase in token price in a bit more than a month.
Additionally, after 6 months of voice trading, we have released our electronic OTC platform at the beginning of August 2020, to be used by our institutional clients for large trades with low slippage, 24/7/365.
Today, we are glad to announce that we will extend the LGO token economics to our OTC activities. More precisely, we will buy back and burn LGO tokens worth 25% of the trading profits generated by our OTC activities, on a monthly basis.
Buy back operations for the OTC activity will start in September for the month of August 2020, and will occur on the LGO spot exchange.
A comprehensive description of the LGO token and its utility is available on our website.
LGO is the leading Bitcoin spot exchange and OTC platform for institutions. Live since April 2019, they are trusted by over 60 institutional counterparties across 15 countries. With a boutique approach, they provide a suite of fully customizable services, best in class technology, and deep liquidity. For more information please visit https://lgo.group.
The LGO Token is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated or otherwise established in, or a resident of the United States of America, you are not permitted to transact in LGO Tokens.