Lexit Blog > LEXIT Token Sale Recap

The LEXIT crowdsale is now over and we would like to extend a big thank you to all those who showed their support for LEXIT! It has been a great few months and we are delighted to call time on what has been a hectic period of development for the first global IP and company assets marketplace run on blockchain.

Development Continues

So what have we been up to? Well, smart contracts are such a key component of the LEXIT platform that our CTO Wajid Khilji has been working hard to implement them in the best way possible. A solution that marries speed and security is vital for an M&A market that is currently dominated by paper contracts.

You can now pre-list your assets

We’ve developed a site for companies to begin pre listing assets ahead of the full launch which will be coming soon. Fill out the form now in order to get your listing on to the marketplace as soon as it goes live!

Introducing LexICO

We have developed a token sale solution born from our very own crowdsale platform. This means that entrepreneurs who use LexICO can launch an ICO in a matter of weeks, rather than months. Development time is crucial and it is not always necessary for startups to be diverting resources into a token sale platform which they will only use once!

It can also be used for private sales, bounty and airdrop management, making it the ideal fix-all tool for startups in the early stages of an ICO.

LexICO seeks to make launching an ICO easier and cheaper, firmly rooted in the belief that removing such boundaries is the best way to foster growth across the blockchain ecosystem.

A strategic partnership has also been launched with Hypercube , the probably most successful ICO-Video production company, in order to offer LexICO users a wide range of marketing services for their ICOs. Users are eligible for a 10% discount off Hypercube services, while Hypercube clients get 10% off LexICO packages.

If you are interested in this highly customizable crowdsale solution for your startup, you can sign up here.

The LEXIT Platform

It’s vital that the website is as comfortable as possible for buyers, sellers and advisors alike. We understand that this means that the platform needs to be intuitive and easy to use. Functional, but also aesthetically pleasing: this is the marketplace that people will want. A wide range of customizable features exist on LEXIT, but this has been done without adding too many layers of complexity to the process of listing and buying assets.

The LEXIT Team Grows

We’ve been hiring to an already great team and are pleased to say that we have just about doubled in size. Some incredibly talented developers and product designers have joined the LEXIT ranks to great effect and they will help carry us forward to releasing the best platform that we possibly can.

LEXIT Goes Global

Following our attendance at the Global Blockchain Conference in Dubai our remit looks to expand to the Asian market. This included welcoming two new team members from Shanghai, China who will be focused on establishing LEXIT in the east and bringing together what aims to be a truly international platform.

Security on LEXIT

We developed our very own KYC process to streamline things and save both of us some time. Adjustments had to be made - in the United States, legal actions were initiated that indicated distributing tokens through bounty programs could be liable as securities - but a change of policy has not prevented an exciting level of participation.

However, all participants in our previous Airdrop and Bounty Programs must complete our KYC/AML/CFT requirements by September 30, 2018.

LEXIT is committed to offering a secure platform that complies with regulation. There have been no data breaches and we’ve successfully prevented all Denial of Service (DoS) attacks. This is a credit to our team who work hard to this end.

Community Growth

LEXIT Platform users

Over 15000 accounts were created during the crowdsale. Our bounty campaign proved to be quite popular, as we had 6,282 participants. The current number of Autumn Airdrop stands at 4,805 and is growing every day.

Autumn Airdrop Launches: Get 80 LXT!

We wanted to grow our token community even further so decided to open our Autumn Airdrop to ensure a wider token distribution. It’s open now and you can enter up until October 15!

To participate, please visit our Airdrop page and follow the instructions there. To become eligible for token distribution you will need to complete the KYC process and the date of distribution will be announced soon after the KYC deadline.

Partnerships To Help Us Keep Moving Forward

The LEXIT ideal is engrained in the concept of helping big ideas from people across the world to flourish by working together. Several companies have chosen to share in our vision and we are delighted to welcome them all as partners!

Startupbootcamp

Startupbootcamp is an international network with thousands of alumni entrepreneurs, corporate partners, and investors. By partnering with LEXIT, it will be possible for alumni companies to quickly scale and pivot by buying or selling on a global marketplace.

The partnership marries two entities with a focus on helping entrepreneurs to thrive in what is often a harsh environment. Both hope to connect entrepreneurs and companies from around the world through a uniform system for trading assets and tech.

Metaverse

Metaverse is an open-source public blockchain that will allow LEXIT to provide a safe and secure environment for the trading of intellectual property (IP), assets, and parts of or entire companies.

The functionality provided in digital assets, through the Metaverse Smart Token (MST), gives users the ability to generate their own cryptocurrency. Meanwhile, a digital identity ‘Avatar’ creates a record of the individual and shapes their reputation from interactions with digital assets and other identities.

Polymath

Polymath allows companies to issue securities as cryptographic tokens on the blockchain while facilitating full compliance with financial regulations on the basis of an innovative smart-contract approach.

LEXIT and Polymath will join forces to develop a tokenization mechanism for more abstract assets such as IP-ownership, usage rights, and licensing mechanisms that can then be traded on LEXIT’s M&A marketplace.

SelfKey

SelfKey provides an identity wallet which allows users to create their KYC profile, request document e-notarization and quickly and painlessly onboard onto financial, cryptocurrency and immigration services.

This partnership makes it easy for LEXIT users to list new projects on LEXIT, while being sure all other participants in the marketplace are trusted and validated entities with the good intentions they claim to have.

WeOwn

WeOwn is looking to use blockchain technology to disrupt the global equity market by giving any business the ability to raise capital and allowing any investor to buy shares in businesses they believe in.

WeOwn was built to connect businesses directly to investors and simplify the trading of shares. Its solutions have been designed to help large enterprises and SMEs alike, making it easier for them to raise capital and give them access to the tools and techniques of listed markets for a fraction of the usual price.

Hosho

Hosho work to improve smart contract security for a more stable and accountable ecosystem. On blockchain technology and in partnership with LEXIT, they believe that the obscure world of M&A can be made much more transparent. As experts in auditing smart contracts for security issues and vulnerabilities, they can help to make this a reality and keep the LEXIT platform safe from malicious actors.

LOCI

Loci is a blockchain-powered platform that aims to facilitate the exchange, analysis, and research of intellectual property with a view to help innovators not only capitalize on their invention, but also to map out where new research opportunities may lie through the use of machine learning.

Veriff

Veriff uses facial recognition software, biometric data and video analysis to verify a user’s identity matches with the provided ID. This is a solution which allows users to identify themselves in minutes by uploading a short recording of themselves presenting their passport, id-card, or driver’s licence.

Veriff’s solution is recognised as a valid form of identification by European authorities, and is used by several banks and many projects in the blockchain space. It is ideal for creating a robust process for verifying that people are who they say they are.

LXA

LXA have specialists in M&A and company law, as well as an impressive startup department, so they are an ideal fit for the goal of empowering the entrepreneurial community.

Clients of the firm include early stage investors and qualifying startups, aka. ones with a certain level of traction. Their partnership with startup accelerators and various service providers, such as accountants, tax lawyers, and notaries, mean that LXA have the perfect legal network to help enterprises grow.

BDO

BDO is an international network of public accounting, tax, consulting and business advisory firms. Carrying experience in their ranks reaching far and wide, they have the means to provide the highest quality of M&A advisors with relevant industry knowledge for most fields. The extensive network will be invaluable in providing accounting and business advice for deals made on the LEXIT platform.

Tokenport

Tokenport are a regulated security token issuance platform who can help amplify the digitization of assets into tradable crypto tokens. This will increase the liquidity for IP, assets and companies. This is a key partnership in achieving a shared goal of helping businesses to scale rapidly.

The Road Ahead

We are delighted to announce that the big majority of our LXT tokens, designated for the market, have been sold, amid a great wave of support from the community, easily surpassing our soft cap.

A Big Thanks to our Community

Big strides have been made in the last several months and LEXIT is poised to enter Autumn with plans to keep moving forward. The next quarter will be an exciting one for us and hopefully the community too!

With this being said, the entire team at LEXIT deeply appreciate the level of support we’ve been shown throughout our crowdsale. We look forward to the next phase and hope that you stick with us on this exciting journey!