What is Lirax?
LIRAX is a community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital and real assets using smart contracts, and to realize a “smart economy” with a distributed network. Our value is due from backed assets and an Ethics Agreement between all of our Partners.
Who is the team?
The Lirax team comes out of Università Cattolica del Sacro Cuore (Italy), University of Rome "Tor Vergata" (Italy), Università Bocconi (Italy), Ganpati Institute of Technology & Management (GITM - India) and Massachusetts Institute of Technology (USA). And our international experience is the primary value of this project.
What is Lirax.Network?
Lirax.Network is a platform to create asset-backed tokens that you can easily buy and sell around the world. Moreover, it is a great merchant place, where merchants and buyer can meet them self and use Lirax like instrument to transfer their asset between of them.
Who can use Lirax?
Our Lirax (LRX) solution has been designed to address the immediate needs of crypto exchanges, crypto traders, and financial companies.
--- Cryptocurrency traders want a trustworthy stablecoin to hedge against volatility, and enter crypto markets without immediate exposure to BTC/ETH.
--- Mainstream Commerce: Everyday people and businesses can enjoy the benefits of digital currencies, and the speed of LRX, without the volatility of the usual cryptocurrencies. Now you can pay a salary, take out a loan, or buy coffee with a cryptocurrency, enabling a new economy of cryptocurrency financial applications.
--- Developing economies: Some developing markets are increasingly reliant on cryptocurrencies for trade.
--- Financial companies that want to get into crypto, but have reasonable reservations against putting high quantity of money into a new algorithmic vs. Millions of “legally-enforceable certificates of ownership for their real assets”.
In LRX we’re opening access gradually so that stability can be maintained from the beginning.
Is Lirax KYC/AML Compliance?
Yes. In order to purchase LRX our web application, current KYC/AML regulation requires that you provide your name, Tax ID, address, Date of Birth, Government ID card, and Address Verification. Moreover, we request bank coordinates if the user would like to buy/sell Lirax directly from our platfom. In this way the owner of the bank account should be the same of our wallet.
How LRX can be stable?
Price deviations between LRX and USD present an opportunity for arbitrageurs. Since traders can always trade LRX for the equivalent USD on lirax.org, there will be an incentive to buy or sell mis-priced LRX on exchanges.
Will LRX tokens be classified as securities?
Our legal counsel has provided a memorandum that LRX tokens are not securities.
They are more akin to deposit & safekeeping receipts, which the U.S. SEC has previously analyzed the kind, and recommended no enforcement actions for their use.
What are the fees?
The current fees are:
To purchase and redeem LRX for USD:
--- 0 (zero) % if you buy directly from Lirax.org - with bank transfer;
--- between 1% to 5% points on transactions of LRX depending on the exchange you choose.
What is the future of LRX?
The crypto economy needs diverse options for stable cryptocurrencies. Some investors might find extra peace of mind in the knowledge that their dollar-tokens correspond to fiat currency in an audited bank account.
In the long term, we think there will be roles for both protocol-based and asset-backed stable cryptocurrencies.
Traders will reasonably seek opportunities to diversify their stable crypto holdings.
Our focus is on the large demand for cryptocurrencies that are backed by real-world currencies and financial assets.
Which are the back assets of LRX?
Every LRX is always fully collateralized by Real Assets - certified by expert auditors - held in our full property under the Switzerland law.
Lirax.Org will put on the circulating-market new LRX, only when new real assets will be available in its entire property.