BitMart, a premier global digital asset trading platform, will list LOX on August 25, 2022. For all BitMart users, the LOX/USDT trading pair will be officially available for trading at 09:00 AM (UTC).
What is LOX Network and LOX?
LOX Network is a hybrid blockchain being built with Hyperledger fabric to record transactions to the XRP Ledger and interoperate with Flare Network for Turing Completeness using the Ethereum Virtual Machine, or EVM. The LOX Network is where SmartNFT, the NFT platform, and SmartLOX, the mobile security application reside.
LOX is the native currency of the hybrid LOX Network blockchain and is the payment mechanism for all LOX Network actions. LOX Network will use Flare Network for Turing Completeness using the EVM and record transactions on the XRPL. The SmartNFT platform and SmartLOX mobile security application are both products of LOX Technology Limited and will be built on top of LOX Network. LOX is the third of the ecosystem’s three XRPL tokens on Sept. 10, 2021, via an IDO on the XRPL decentralized exchange.
Why Choose LOX?
The native currency, LOX, powers LOX Network. The token is used to pay transaction fees when interacting or executing contracts via LOX Network.
The first two applications to be built by the team at LOX Network are SmartNFT and SmartLOX
- SmartNFT, an NFT platform where users can mint digital representations of themselves and their devices among other uses.
- SmartLOX, the mobile security application. The SmartLOX mobile security app uses LOX Network to identify and bridge a users’ profile NFT stored on the mobile application and a device NFT stored on the SmartNFT platform to pair them together, creating the proof-of-ownership bond backed up by the XRP Ledger’s decentralized transaction records.
LOX Token Features
Central to the LOX Network mission is recovering devices through global data sharing. $LOX has three functions in a reward structure to incentivize our mission success.
- Device owners can create bounties paid in $LOX for the recovery of lost or stolen devices.
- Users who find a lost device and return it to their rightful owners receive a reward paid in $LOX.
- Users who find a blacklisted device with no apparent owner receive a reward paid in $LOX.
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LOX is the native currency of the hybrid LOX Network blockchain and is the payment mechanism for all LOX Network actions.
LOX Network puts the power of device ownership in the hands of owners rather than wireless carriers. Our mission is to recover devices through global data sharing.
Designed to target and dismantle the phone theft industry through a decentralized blacklist, bridge users’ unique digital and physical ownership through unique non-fungible tokens or NFTs. LOX is providing the world’s first global IMEI blockchain.
To learn more about LOX, please visit their Website, follow their Twitter and join their Telegram.
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