First Quant Network QRC-20 Token Sale, Issued on LCX Exchange

PARIS, FRANCE / ACCESSWIRE / January 17, 2023 / The LEOX token is the first public launch worldwide using the Quant Networks QRC-20 standardization. LCX, the Liechtenstein-based exchange and long-term strategic Quant Network partner, will manage the token sale. Physical asset-backed NFT marketplace Galileo Protocol becomes the first company to use the new QRC-20 token standard. Galileo Protocol QRC-20 LEOX Token Presale is now live on LCX exchange.

Main Takeaways

• Quant Network’s much anticipated QRC-20 token standard launches
• Quant partner LCX manages the token sale of the world’s first QRC-20
• Galileo Protocol’s LEOX private sale debuts as the first-ever QRC-20 token

“Galileo Protocol is a new web3 marketplace protocol designed for safely and efficiently trading PNFTs. We’re excited about this partnership to issue $LEOX tokens. $LEOX is a QRC-20 utility token issued on a multi-chain protocol. I have thoroughly gone through its benefits and believe that Quant Network level security is good for safeguarding your wallet, tokens, non-fungible tokens, and transactions.” – LCX’s CEO Monty Metzger.

Summary

Quant Networks much anticipated QRC-20 token standardization finally comes to market via the Liechtenstein-based exchange LCX. Quant’s Overledger product suite Tokenise facilitates creating and deploying institutional grade QRC-20 and QRC-721 multi-chain tokens and digital assets. The LCX exchange is the world’s first centralized exchange and crypto platform to launch the Quant-based product in the form of a private sale of the LEOX QRC-20 token. The LEOX offering is an essential milestone for Quant Network and the Quant community. Long-term strategic partner LCX will manage the private sale of LEOX, using the new QRC-20 standard. Both entities have a history of collaboration and integration of technologies, with much overlap in values and vision. LCX has established itself as a crypto asset pioneer and focuses on bridging blockchain technology with the finance and banking industries. Physical asset-backed NFT platform Galileo Protocol utilizes Quant’s Tokenise to create and deploy QRC-20 LEOX and pNFTs. The LEOX private sale goes live on LCX using the enterprise-grade Token Sale Manager, being the first ever QRC-20 token to do so.

According to the roadmap, the LEOX sale is to facilitate project funding and community growth. The Galileo Protocol has synergy with Quant Network and LCX, enabling crypto investors to diversify into real-world assets backed by NFTs while being fully regulatory compliant. There is much ideological overlap between the crypto asset trailblazers too. LCX CEO Money Metzger joins the Galileo Protocol team as an official advisor.

• Quant Network Tokenise QRC-20 QRC-721 Multi-chain Token Standard
• Quant Network Strategic Partnership with LCX
• Galileo Protocol’s LEOX First QRC-20 Token

Quant Network’s Tokenise QRC-20 QRC-721 Multi-chain Token Standard

Quant Network has recently garnered much attention, partly due to the positive price action of its underlying utility token, QNT. Another reason for being in the spotlight is the new tokenisation product launch, Tokenise.

Described as a suite of smart contract templates, Tokenise empowers users to create and deploy multichain QRC-20 and QRC-721 standard tokens and smart contracts. The QRC-20/721 standardization is comparable to the Ethereum native ERC-20 but comes with two primary advantages; token security and interoperability.

Token Security

The smart contract is the underlying ruleset that creates and manages the token. As such, it is highly susceptible to attacks by malevolent actors. A single point of failure in the smart contract can lead to catastrophic losses for the token issuer and its users. Therefore, the smart contract code has to be rigorously battle-tested via proper auditing and verification.

The auditing and verification process is time-consuming, and costly, and requires the development team to have a profound specialized understanding of the technology. The Quant Network smart contract template suite is a solution to this challenge. All QRC-20 smart contracts have been designed to industry standard specifications and are third-party audited to verify their integrity and security.

Interoperability

The second challenge is interoperability. Unlike the Ethereum-based counterpart ERC-20, the QRC-20 standard is blockchain agnostic. Blockchain agnostic means these tokens can deploy on multiple blockchains whilst behaving identically without re-coding.

Quant Network Strategic Partnership with LCX

Quant Network and LCX have maintained a strategic collaboration since 2019. The working relationship aims to integrate their existing technologies to advance the implementation of Central Bank Digital Currencies (CBDC), retail and wholesale facing stablecoins, and digital asset securities.

“Due to their expertise and technology leadership, Quant plays a key role in global DLT Interoperability. Together we are pursuing the goal of translating this expertise into further growth, using LCX regulatory setup as a basis. In doing so, we hope to define a new industry-leading standard that will open up the advantages of interoperable digital assets,” Monty C. M. Metzger, CEO and Founder of LCX.com.

LCX Joins the World Economic Forum

Quant Network and LCX share common ground in their vision of the role of distributed ledger technology (DLT) and world finance. In 2019 LCX joined the World Economic Forum’s (WEF) Center for the Fourth Industrial Revolution. The WEF facilitates an open discussion between leaders and policymakers from business, politics, and academia to address the most fundamental economic challenges. The Center for the Fourth Industrial Revolution aims to use science and technology to address these challenges and effect positive change. The Center identified blockchain and distributed ledger technology (DLT) as core technologies that help facilitate the transformation into the ‘Fourth Industrial Revolution.’

“LCX is aligned with the World Economic Forum to engage in this process and shape the exploration and experimentation of DLT for global financial and monetary systems,” says CEO Metzger.

The LCX and WEF partnership looks to establish a framework for how DLT can benefit banking, finance and regulations. In 2019 LCX hosted a special session at the closed-door WEF working group “Central Banks in the Age of Blockchain Technology” in Singapore. In attendance were senior executives of 15 central banks. The discussion centered on addressing potential challenges involving digital currency regulation, international inter-bank settlement, and retail-facing central-bank digital currency, including KYC/AML implications.

Galileo Protocol’s LEOX First QRC-20 Token

Galileo Protocol forms an alliance with LCX for the LEOX QRC-20 private token sale. The Galileo team utilises LCX’s Token Sale Manager (TSM), leveraging its full regulatory-compliant standard blockchain platform. The TSM allows the Galileo team to bring their token sale to market with full assurance of Know Your Customer (KYC)& Anti Money Laundering (AML) compliance per all necessary legal and regulatory obligations. Following the project’s roadmap, the LEOX private sale is now live on LCX. The LEOX token can be purchased by investors who are whitelisted using BTC, ETH, USDC, QNT, or EURO.

There are notable parallels between Galileo’s tokenisation project and the LCX-affiliated Tiamonds. Tiamonds are digital representations of real-world physical diamonds in NFT form that can function as tradable assets. LCX oversees the regulatory framework and uses its advanced blockchain infrastructure to facilitate the Tiamonds marketplace. LCX showcases Tiamonds as a demonstration of the opportunities in tokenising real-world assets. Due to this considerable project overlap, LCX CEO Monty Metzger officially announced his joining the Galileo Protocol board of advisors.

“LCX has consistently prioritized regulatory compliance at a time when the crypto industry is moving into the mainstream. We like their approach and feel they set a good standard for the Galileo Protocol” – Team Galileo.

Galileo Protocol Receives Endorsement from Quant Community

Members of the Quant community endorse Galileo Protocol. Their website shows that well-known Quant community figureheads officially joined the team. For instance, Nagato joined as the project’s Marketing Advisor.

The LEOX Token

The LEOX token is the first Quant QRC-20 live private sale on an exchange worldwide. The LEOX multi-chain utility token underpins the Galileo Protocol ecosystem. LEOX has several key functions on the platform: a unit of exchange, transaction fee payments, payment of royalties, and staking rewards. From the project whitepaper, a maximum supply of 200 Million gets minted over 39 months. 33.5% get distributed to seed investors and public and private sales rounds. The remaining tokens are allocated to build the ecosystem (reserves and liquidity, the ecosystem treasury, and staking/community rewards).

About Quant Network

Quant Network provides an operating system that facilitates complete interoperability between blockchain and networked systems. Quant’s patent-pending products serve banks, financial institutions, asset managers, enterprises, and technology partners.

About LCX

LCX, founded in 2018, is a fully regulated and compliant fintech company focused on digital asset trading, token offerings, and tokenisation. The main headquarters are situated in Vaduz, Liechtenstein, with subsequent office presences in Switzerland and India. LCX focuses on building the infrastructure for a secure and trusted digital finance ecosystem. With a heavy emphasis on compliance and regulation, LCX is looking to bring technology solutions to the institutional and consumer level.

About Galileo Protocol

The Galileo Protocol is a peer-to-peer marketplace for non-fungible tokens (NFTs) backed by real-world physical assets (pNFTs). Founded in 2022 by CEO Pierre Beunardeau and COO Nathaniel Debache, the Paris-based startup is a team of professionals dedicated to Web 3.0, blockchain and digital assets. The project provides solutions to several critical challenges by providing access and liquidity to alternative real-world asset classes, a hedge against volatility within the crypto ecosystem. It also addresses issues concerning counterfeit goods while providing authentication and a proper chain of custody for real-world assets. In addition, the team looks to expand into asset custody, asset appraisal, and an asset redemption system.

“Galileo Protocol is a peer-to-peer community platform allowing brands, owners, and customers to discover, browse, purchase, and create NFTs tied to physical assets.” Pierre Beunardeau – CEO

Resources:

1. https://www.lcx.com/galileo-protocol-chooses-lcx-for-leox-compliant-token-sale/
2. https://quant.network/products/tokenise/
3. https://quant.network/press-releases/quant-partners-with-lcx-to-advance-cbdc-settlement-implementation-2/
4. https://www.lcx.com/lcx-joins-world-economic-forumfor-fourth-industrial-revolution/

Email: [email protected]
Website : https://www.galileoprotocol.io/
Twitter : https://twitter.com/galileoprotocol
Telegram : https://t.me/galileoprotocolcommunity
Linkedin :https://www.linkedin.com/company/galileo-protocol/

Contact : Galileo Network SARL
10 Rue du Colisée
75008 Paris – France

SOURCE: Galileo Protocol

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