The awareness of cryptocurrencies continues to grow, and already - most of the world has at least heard of Bitcoin and other cryptos. Even if they don't know anything but the name, it is enough to get people interested. The last few years have shown just how many of us are becoming interested in using cryptocurrencies.
2017 and 2019 so far have been especially successful at bringing new investors and traders to the crypto sector, thanks to major rallies that have marked the years. In 2018, there was a major price drop, and most coins lost at least 80% of their price. However, this served a purpose as well, as it rooted out weak projects, while at the same time, it allowed developers to focus on what really matters — perfecting the technologies related to the sector.
Still, there are many issues regarding the crypto space that still need addressing, and one of them is making things simpler for less tech-savvy users. There are also matters like making the coins more manageable and creating frameworks that would allow investors and companies to safely use digital currencies. These are the problems that many projects have sought to resolve, one of which was Leondrino.
Leondrino Exchange is a cryptocurrency exchange founded in late 2014. The business set the goal of creating a framework that would address issues we have mentioned previously — including the creation of a framework that would allow crypto users to safely use new coins.
The exchange offers multiple services, but one of the most important ones is currency management as a service. The company sees cryptos — especially branded ones — as a revolutionary customer retention tool. With the ICO trend becoming a hit back in 2017, the company obtained a license to operate in the German market, and it quickly got connected with many different partners to create a platform that would enable a new form of financing for traditional industrial and service companies, outside of the pure crypto and blockchain scene in Germany.
In other words, Leondrino wanted to deliver a crypto launching platform, and it quickly started receiving customers — businesses willing to have their own coins created. However, Leondrino also needed its own native token for this, so it created its XLEO, which also had its token sale.
As mentioned, Leondrino held its ICO back in 2017, in November. The token sale took place over the course of four weeks, from November 6th until December 4th. Investors could have obtained as many as 200 tokens for 1 ETH coin — the only cryptocurrency that the project was accepting in exchange for its tokens.
At least, this was the price during the first two weeks. During the second of the two-week ICO, investors could have obtained 175 XLEO tokens for the same price of 1 ETH. The project set up a soft cap of 10,000 ETH, and a hard cap of 50,000 ETH.
Another interesting detail is that the tokens that were actually sold were known as PXLT or Pre XLEO Tokens. The project planned to exchange PXLT for XLEO once it launched its MainNet. The token itself was created on Ethereum's network, which made it an ERC-20 token.
|Start||July 10, 2019|
|End||September 28, 2019|
Leondrino affords access to brand-specific currencies...well, that is interesting. Could someone name me at least one brand currency off the top of your head? I doubt that anyone would be able to do that since that are no such currencies yet. At least when it comes to the globally recognized brands. Besides, the crypto community doesn't care much about brands and their currencies because most of them would be dull stablecoins that offer no price action on the exchanges.
Did you see their team page? There are only photos, first names, and job titles - no links to LinkedIn profiles, brief descriptions, or even surnames. Isn't that a major red flag? How am I supposed to know that these people are up for the task? Sorry, Leondrino, even though the idea of managing branded tokens is interesting in its essence, it is not in my nature to entrust my money into the hands of virtual strangers. You should be aware of the importance of proper presentation of team members for the overall success of the startup. That is a grave oversight on your part.
But, as mentioned, the idea is interesting, and the project aimed to become a bridge between crypto and traditional sector, which is something that many are still trying to achieve today. Bringing institutional investors into the crypto world still remains a struggle, however, mostly due to the lack of proper regulations and large volatility. In time, however, projects such as this one will help reduce the gap between the two halves of the financial industry, which makes them, as well as each of their contributions, highly important and valuable.
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