Diamonds become Tiamonds: Next Level Integration between the Real & Digital Worlds

1 yr (edited)
LeoFinance
6 Min Read
1186 words

For the first time in like 2 years, I'm writing a HIVE post while chilling on my couch (not sitting, not completely laid down, but somewhere in between). My new laptop makes this happen since this one has a working keyboard whilst the predecessor holds a retired keyboard. Still showing it's there, but refuse to work properly.

But, we are not here at LeoFinance to talk about my laptop. We are here to learn about crypto projects. I have one for you! Not sure if you like this one, but I think they are onto something and maybe even become a model for the future of crypto financial services.

Why am I saying this? Hang in there and I'll explain...


image: diamond by LCX - mesh composition by edje

LCX

...LCX is not just a crypto exchange: It's a crypto exchange that does a few extra things that makes this one unique. The most notable aspects are:

  1. Fully Regulated exchange under the Liechtenstein flag: All services by LCX are fully 'doxxed' by the central authorities, the Liechtenstein law, which in the end is EU law.
  2. Fully Regulated decentralised services through eg integrating Metamask (Ethereum) with LCX exchange and offering DEX swaps
  3. Fully Regulated Token Launch service: DigiCorp is an example
  4. Aiming to Tokenise Real-World, Physical, Assets: Tokenised Diamonds is the first step

It is the regulation part that may not be to your liking. It is the regulation part that caused me the state: "I think they are onto something and maybe even become a model for the future of financial crypto services". Whether we believe in our current authorities or not. Whether the current authorities survive the next decades, or not. We will always have some to more central authorities we have to deal with. Maybe central on a smaller scale rather than a larger one {hopefully the smaller scale versions: personal opinion}. But as long as we will have central authorities, crypto will have to align with the rules they apply sooner or later. Even if we all jump into using DeFi services solely; Leaving fiat and centralised crypto service unused; The future crypto service will align itself with the rules of these authorities. Maybe this is a good thing: It'll likely massively reduce the number of scam projects in the crypto and DeFi space. I can only dream of that happening!

TIAMONDS

Soon LCX will launch their first tokenised physical asset: Tiamonds. Tiamonds is nothing more than Tokenised Diamonds.

Wait! What?

Using the NFT technology, two types of certificates per physical unit, LCX brings diamonds to the crypto and DeFi worlds. The first-ever fully regulated crypto service in the whole wide universe that shows a blockchain and NFTs has real value as technology. LCX is solving a real-life 'problem' that is not possible to solve in a none transparent centralised world. Owning and trading physical assets while these assets are safely stored in the physical space.

I have no clue about diamonds. I just know they are expensive. I know as well, many peeps in the world like to own and wear something with diamonds. I also know most of these peeps walk around with these 'somethings' with fake diamonds. But that's about it. Way too little knowledge to determine what the price of a diamond shall and can be in the future. Therefore I will stay away from the Tiamonds; Far away.


diamond by LCX: click the image for a little video (source)

TIA

But I didn't stay too far away from Tiamonds to learn LCX did something unique in distributing the token TIA. TIA is the new token for the Tiamond asset. Some of these tokens are airdropped to LCX token holders. Some to more will be offered to buy, through CEX trading pairs and DEX liquidity pools.

"Nothing unique", you may think! ...Hang in there! Just a sec...

...The majority of TIA tokens will be given as 'staking' rewards: Those who buy a Diamond (a Tiamond) will earn TIA tokens, a drop every single minute for as long as 1 million minutes. The most expensive Tiamond will go for 1 TIA per minute reward ending up in 1M TIA tokens guaranteed.

Staking a physical diamond will earn you crypto tokens!
Kinda interesting staking material! Uhm, sounds like some kind of bad loyalty program {LOL}

small INCONVENIENCE

The last AMA with the founder of LCX AG 'Monty Metzger' was just two days ago. A part of this AMA was dedicated to the exchange hack that happened last weekend. 7M USD worth of tokens got stolen and are none-recoverable, most likely. Something we never like to hear, but something that we will see happening more often with more and more hackers entering the crypto space.

The GOOD news! All 7M USD stolen tokens will be reimbursed. This was a no-brainer for the team. How COOL is THAT!!!!? What other crypto projects do you know that does that?

Part of the stolen funds was also the bag of SAND tokens provided by the SAND team and held by LCX for some kind of incentive plan. I was dumbstruck by the sheer amount of peeps only concerned with whether or not they still get their SAND tokens. With an airdrop value of about 40 USD, I'm sure you can only agree with my state of mind when I saw the questions rolling in while the AMA was ongoing. Needless to state, also all SAND will be airdropped, though with a little delay.


screenshot from LCX last Sunday's AMA

Sometime soon LCX plans to release an updated roadmap. Apparently with some major new milestones, but let's wait and see when it happens so we can judge for ourselves.

Documentation & Links

In the text above I already provided a set of links you may like to check. Since these links are a bit hidden, a somewhat more transparent list below:

Whether you are interested, or not, in this super regulated service: Check at least the Tiamonds links, is my advise. The marketplace link brings you to the Tiamonds being auctioned and sold for a fixed price. Certificates are given per Tiamonds and can be viewed and downloaded. The most expensive Tiamond requires 1 million LCX to be staked, which is kinda like 150 thousand USD with current LCX prices. These diamonds will go for 1M USD each, in case the TIA intro price of 1 USD will hold. Ten of them will be sold.

QUESTIONS

Don't ask them! {LOL}

Orrrrrr... use the following service...

AEA: ASK EDJE ANYTHING

You may ask yours truly anything, but maybe you like to limit the questions to LCX and anything they are, did and plan to do? Though, I will do my best to answer any other questions you may have. Just leave a comment below with whatever you like to know.

a LEO/POB/HIVE original

all images by edje unless stated otherwise


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1
1 yr

🙇

0

Tokenized Physical Diamonds and the gap between the real and virtual worlds is getting smaller and smaller.

Posted Using LeoFinance Beta

3
1 yr

True, kind of. Though a gap will still exist for a long time to come, I mean, it'll take considerable time before we experience the digital world as a real-world :)

2

first, am going to check it out, I like airdrops
I called them free magic money

💸🤑

Posted Using LeoFinance Beta

1
1 yr

Airdrop already done, and required to hold LCX tokens in LCX exchange.
When all easy to grabs free money, then the project/token is not of any value. Just my opinion.

1

Tokenization is what's taking over, many companies want to have NFT.

Posted Using LeoFinance Beta

1
1 yr

True, but what if in a year from now nobody is willing to pay a lot of money for just a hyperlink? As you know, the NFT itself is not stored immutable on a blockchain.

1

We are just observing what's happening in the market

Posted Using LeoFinance Beta

1
1 yr

True that! 🙇

0

K

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0

Thanks for this detailed Info! I need to catch up and so glad for your advice as you always do. I am happy with The SEED project and now I will also look into this here

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1
1 yr

You are most welcome 🙇
Though Tiamonds are something really nice as an offering, and how LCX is doing this, I personally will not invest in any Tiamond. My knowledge of Diamonds is next to nothing.
However, I do believe LCX is doing great things. Hence I invested some in their token.

1

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1 yr

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