Last summer, LATOKEN first announced its plans on entering the crypto space with an ambitious goal to build the first and the best multi-asset crypto trading platform.
Our team has been working days and nights to create a truly game-changing product. We have already accomplished a lot, and much more is to come. So we decided to sum 2017 up, reviewing our achievements in product development and international expansion, as well as introduce our roadmap for 2018.
LATOKEN Key Achievements
Last October, we successfully completed the token sale raising $19.6 million(at 270 USD/ETH rate) from 17,000 contributions.
Our token is now listed on seven exchanges, including OKEX (Top 5), HitBTC (Top 10) and KuCoin (Top 20). LATOKEN capitalization has recently hit $150 million (Jan 8, 2018) with LA token price reaching $1.95 (compared to the token sale price of $0.3–0.5) and daily trading volume growing to $2.5 million.
White Summers Caffee & James, a premier technology and international law firm based Silicon Valley with 18 years of experience, analyzed LA token under the Howey test and prepared a legal memorandum. The Memorandum emphasizes that “LA tokens have a distinct utility purpose separate from generating profits”, and concludes that LATOKEN is “likely not be deemed a securities offering, and accordingly, and federal securities laws would likely not apply to the initial distribution and subsequent trading of LA Tokens.
In the end of 2017, we started trading in silent mode 20 major crypto pairson LATOKEN Platform to test and implement the highest standard of security architecture before scaling.
LATOKEN is also on of the first Platform to list ICO tokens. We manually choose the best blockchain projects so that our supporters could use LA to take part in the promising token sales.
We have also tested trades of asset tokens linked to prices of hard assets, like shares of blue chips (e.g. Apple, Amazon, Tesla) and commodities (oil, gold, silver). Now we’re working on acquiring all necessary licenses for a full-scale trading of asset tokens.
Last but not least, we have upgraded our security infrastructure, building a 4-layer transactions security system, and empowering authorization system protection.
Last year, LATOKEN hosted the first Blockchain Economic Forum in New York to expand a network of partners and increase LATOKEN awareness in the blockchain community. Most of the participants are invited personally. That is why BEF was named the greatest place to meet and reviewed by Forbes: “500 Entrepreneurs, VCs, bankers, brilliant coders, a couple of dozen visionaries …”. More than 20 startups which presented at BEF have raised $200+ million.
In late 2017, LATOKEN also organized 5 meetups in Asian crypto capitals — Tokyo, Seoul, Taipei, Hong Kong and Singapore, bringing new partnerships and strengthening LATOKEN presence in Asia.
Looking Ahead: LATOKEN Roadmap for 2018
This year we are going to list LA on other major crypto exchanges, making it easy and comfortable for our community to trade it.
LA will be the main currency used on LATOKEN Platform. To facilitate its use, we’ll make transaction fees for all the operations in LA 50% cheaper than those in other cryptocurrencies.
We also decided to freeze most of the tokens held by the company to guarantee limited supply.
In 2018–2019 LATOKEN is going to launch the first decentralized exchange based on graphchain technology (DAG) that can handle up to 100,000 transactions per second.
We are also working on obtaining necessary licenses for a full-scale trading of asset tokens.
Our plan is to scale trading of tokens linked to prices of real assets, launch P2P trading of tokens, create a crypto/fiat gateway, and list tokens of at least 100 high-quality ICO projects accepting contributions in LA on LATOKEN platform.
All in all, our goal is to expand our trading and enter Top-20 crypto exchanges by volume.
This February LATOKEN will host the second Blockchain Economic Forum in Singapore. The Forum has already become a flagship event for the international blockchain community. This time we will welcome the former president of Mexico Vicente Fox, associate founder of Singularity University Reese Jones, co-founder of Asia Fintech Angels Renu Bhatia, and 100+ other top-notch speakers.
LATOKEN is also planning to open offices in Korea, USA, Japan and EU.