Introduction to the Legolas Project
Launched in France in 2017, the Legolas Project has rapidly established itself on the Blockchain startup landscape. With plans to introduce an innovative cryptocurrency and fiat exchange, it has already garnered attention by raising over 1,500 BTC (approximately $15 million) during its private sale, which concluded in early 2018. Talk about a splash—more like a cannonball!
Partnering for Success: Legolas and Makor Group
The Legolas Exchange has teamed up with the Makor Group, an international brokerage firm specializing in cash equities, derivatives, and FX. The duo aims to create a regulated and secure cryptocurrency exchange that caters specifically to institutional investors.
Why Institutional Investors are Eyeing Cryptocurrency
In today’s financial landscape, institutional money managers have increasingly turned to alternative investments to diversify their portfolios and enhance risk-adjusted returns. A PriceWaterhouseCooper report forecasts that by 2020, global assets in alternative investments could skyrocket to $18.1 trillion from the current $10 trillion. Talk about climbing the financial ladder!
Frederic Montagnon’s Vision for Transparency
Frederic Montagnon, the CEO of Legolas Exchange, highlights the hurdles institutional investors face when trying to build crypto portfolios—namely the unregulated exchanges and the complexity of token management.
“Institutional investors want to build crypto portfolios, but they struggle with unregulated exchanges and are uncomfortable with the complexity of holding tokens and rampant price manipulation.”
Unpacking the Innovative Hybrid Protocol
The Legolas team is developing a premium hybrid exchange that uniquely blends decentralized ledgers into a proprietary centralized platform. According to Hugo Renaudin, Legolas’ Chief Product Officer:
“The protocol itself is a semi-decentralized order matching protocol. Incoming orders and transactions are encrypted, timestamped, and stored on a Blockchain, while order matching is conducted off-chain.”
Benefits of the Hybrid Approach
This dual approach allows for transparent price formation and transaction auditability without compromising the efficiency and scalability that centralized systems provide. In a world where crypto trading can sometimes feel like the Wild West, Legolas aims to introduce law and order.
Looking Ahead: Launch Plans and Future Developments
Set your calendars! Legolas will kick off its public sale on Feb. 1 at 12 p.m. GMT, targeting a cap of 2,000 BTC. Development of the exchange is right on track, with plans for a beta version by the end of Q1 2018. Initially, the platform will serve large institutions before gradually welcoming more users, particularly those who participated in the token sale. So, if you’ve got deep pockets, it looks like you’re on the VIP list!
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