/biz/ - Business & Finance

>>56798495
Your token appreciating in value during a surprise dumping of reserves is not a good thing.

https://www.lcx.com/lcx-token-company-reserve/
Until June LCX had 100 million tokens locked in their strategic reserve.

https://www.lcx.com/lcx-token-transparency-report/
After that they changed their policy so that "up to 20% of the total suppy" will be locked, this is 190 million tokens. They are locking more tokens right?
>Traditionally, LCX maintained a fixed company reserve of the LCX token.
>Starting from 2024, a variable percentage of LCX tokens that we receive from the utility token’s usage will be placed back into the company reserve wallet, up to a maximum of 20% of the total LCX token supply. By introducing a variable balancing reserve, we aim to sustain stability, ensure trustworthiness, and promote transparency in our financial operations.

No, when they say they will lock up "up to 20% of the total suppy" in their flexible reserves what they actually mean is they can have anywhere between 0 and 190 million tokens in their reserves.

They have since sold 20% of their reserves, LCX is so close to insolvency they dumped over 5% of the total supply on the market. Anyone who understands the illiquidity of the market cap figure knows how devastating such a large sell can be despite it being a small amount by percentage. The price is preparing to tank as they finalise the sales across the open market now that they have removed the 20 million from their reserve wallet 35 days ago. This is visible on chain.
https://etherscan.io/address/0xc90970DD648415756681163F69Eaeb7EB9c28A9C#tokentxns

They have no money, no way of becoming profitable, no users, no USP and no reason to have a token. What is preventing the company from dumping their entire supply of LCX to keep the company afloat? I'm trans btw not sure if that matters.