The Leondrino Exchange, founded in late 2014, has set itself the goal to create a framework that enables companies and investors to safely use the new digital currencies. In this context, Leondrino Exchange offers companies currency management as a service and is working towards a regulated standard of its Leondrino Lifecycle in key jurisdictions. Branded currencies not only give companies the ability to raise growth capital, they are also a revolutionary customer retention tool.
According to Smith & Crown’s crypto analysts, Blockchain startup companies have raised more growth capital through initial coin offers (ICOs) than through traditional capital increases in the first six months of this year. This new form of financing for companies through the issuance of a digital currency has therefore already proven successful in practice in the Blockchain and crypto environment.
The Leondra GmbH, the licensee of Leondrino Exchange for the German market, is working together with partners and first pilot customers to create a platform to enable this new form of financing for traditional industrial and service companies outside the pure Blockchain and crypto scene in Germany. Four small and medium-sized German companies are already preparing to issue their own currencies in cooperation with the Leondra GmbH.
Leondrino introduces the XLEO – a bridge currency that ensures rapid exchangeability of the participating currencies within the Leondrino ecosystem – to make the various brand currencies exchangeable. A partial amount of the so-called tokens will be offered from November 6th to December 4th, 2017 as Pre XLEO Token (PXLT) by Leondra GmbH on the Public Blockchain of Ethereum. After Bitcoin, Ethereum is the second best-known public digital currency network.
The XLEO token is used within the Leondrino ecosystem as a unit of account. It is planned to launch the XLEO token in mid-2018 via the upcoming Leondrino MainNet.
The funds raised through the ICO of the PXLT will primarily be used for the continued development of the company, especially in terms of software development, the clarification of regulatory and compliance issues, and the preparation for the launch of the planned Leondrino MainNet.
Summary of the PXLT Token Sale
|Token Sale Period||4 weeks: November 6, 2017 at noon (UTC) until December 4, 2017 (UTC) hard stop; Token Sale will be over once the max. contribution cap of 50,000 Ether (ETH) is reached.|
|Accepted Currency||ETH (Ether)|
|Initial Price||200 PXLT : 1 ETH|
|Bonus Schedule||First two weeks 200 PXLT for 1 ETH, second two weeks 175 PXLT for 1 ETH|
|Min Contribution Goal||10,000 ETH|
|Max Contribution Cap||50,000 ETH|
|Creation Cap||10 Million PXLT|
|How are funds held?||Via a Smart Contract on the Ethereum Blockchain|
|Smart Contract Security||Multi-signature smart contract for administration of a Token Generation Event (TGE) (enforces four-eyes principle to manage the TGE and the transfer of contributions)|
|Auditor||Backes SRT GmbH, Saarbrücken|
Detailed Overview of XLEO and PXLT
|Role of Token||XLEO: Bridge currency in Leondrino Ecosystem; additional function of reserve currency in the future;
PXLT (Pre-XLEO Token) is an interim token. PXLT will be exchanged for XLEO after the launch of the Leondrino MainNet. (Exchange rate: 1 XLEO for 1 PXLT)
|Initial Distribution in PXLT Token Sale||10 Million PXLT|
|Token Supply of XLEO||Fixed „XLEO Base Line” of max 1.26bn including PXLT and all presales packages to institutional investors as well as the planned public offer to XLEO.
Additional supply depending on the total volume of all issued Leondrino to ensure the role as a bridge currency.
|PXLT on Ethereum, Deletion after exchange in XLEO
XLEO on future Leondrino MainNet
|Consensus Method||Proof of Work on Ethereum;
Proprietary consensus algorithm on a consortium network on Leondrino MainNet (will be audited by external auditor before exchange of PXLT into XLEO)