Right at the beginning of what seems to be arguably the most exciting and awaited week for the Cardano community this year, LCX announced the listing of five incredible Cardano Native Tokens (CNTs). LCX, Europe’s leading regulated cryptocurrency exchange, cited this Cardano Native Token (CNT) Listing Week as a major milestone towards expanding the platform’s support for the Cardano ecosystem.
According to LCX, these listings are a testament of the Exchange’s commitment to supporting the Cardano Ecosystem.
“We believe in empowering our community with diverse trading options and innovative solutions. By listing CNTs, we aim to strengthen our collaboration with Cardano, one of the most robust and scalable blockchains in the crypto world. This move not only broadens the trading possibilities but also sets a precedent for integrating traditional fiat with native tokens, simplifying the trading experience.“
Which Cardano Native Tokens (CNTs) are now supported by LCX?
Starting on Tuesday, 22nd October, 2024, $SNEK, $MIN, $IAG, $NVL, and $WMTX will be available for trading on LCX. What’s unique about this listing is that the five tokens are now available with the first-ever EUR pairs, allowing seamless and direct trading with the Euro.
1. $SNEK
As a unique memecoin in the Cardano ecosystem, SNEK is known for its community-driven approach and strong following. It’s the most traded token on Cardano and a unifying force within the ecosystem, bringing excitement to the community. SNEK makes the crypto space more accessible, engaging, and meaningful. Beyond becoming a cultural movement and icon representing fun and innovation in the web3 world, SNEK is now ready to shine on LCX!
2.$MIN
The utility token for the Minswap DEX, designed to enhance the decentralized exchange experience on Cardano. It’s all about fast, secure, and efficient trading. MIN tokens are mainly used for rewards to liquidity providers who stake their liquidity pool tokens. This helps incentivize users to contribute to the DEX’s liquidity. Additionally, MIN tokens are used for governance in that the token holder have voting power, enabling them to participate in voting and shaping the future direction of the Minswap protocol.
3. $IAG
The token fueling the Iagon platform, which integrates blockchain technology to offer decentralized storage and computing solutions. It’s the backbone for innovation on Cardano. This capped-supply token has a total supply of 1 billion IAG tokens that hold value exclusively within the Cardano network
4. $NVL
The native governance and utility token of Nuvola Digital, enabling decentralized finance solutions on Cardano through innovative services designed to improve efficiency and accessibility. Nuvola, a Decentralized Physical Infrastructure (DePIN) aggregator on the Cardano blockchain, provides ecosystem participants with simplified exposure to multiple revenue streams from DePIN projects with limited technical expertise.
NVL has a total supply of 21 million tokens, a supply of tokens that’s fixed and predetermined, ensuring scarcity and potential for appreciation. No other tokens outside of this original supply will be minted after initial distribution.
5. $WMTX:
World Mobile is a decentralized network that connects underserved communities globally, fostering digital inclusion and bridging connectivity gaps. The network’s utility token, WMTx, powers the sharing economy of World Mobile’s global network. All transactions generated on the network, including calls, data usage and wallet transactions, are paid out in WMTx to node operators and those staking WMTx.
According to LCX, there are more Cardano tokens lined up for listing, further expanding the platform’s support for the Cardano ecosystem. LCX hopes to continue bridging traditional finance with the new world of digital assets, and these listings mark an essential step in that journey.
LCX at the Cardano Summit 2024
LCX ongoing commitment to support the Cardano ecosystem goes beyond listing CNTs and offering a robust trading infrastructure. They’re joining this year’s Cardano summit as an official sponsor and active participant, with their CEOMonty Metzger delivering a keynote on Insights into regulated markets. This will mainly focus on how LCX empowers Cardano startups and establishes itself as a regulated crypto exchange for Cardano projects. He’s also expected to speak about the future of blockchain, focusing on the importance of regulated digital markets.
LCX key role in the summit will also extend to the Battle of the Builders competition, where they have a spot in the jury. They’ll also offer some exciting prizes for the top three winners of the competition, including a grand prize worth $125,000 for the top project, $75,000 worth of rewards for the second place, and $50,000 for the third prizes. Part of these rewards will be paid in ADA, while the winners also enjoy benefits like free listing on the LCX exchange, mentorship sessions with LCX founder and CEO, marketing support, and much more.
The news on LCX was received with lot’s of excitement within the community, . The five tokens listed this week now join ADA, the native cryptocurrency of the Cardano blockchain, NMKR, the utility token for the NFT-Maker platform and TANG, utility token of Tangent as the tokens you can trade on LCX. This ongoing support for Cardano further solidifies LCX as the leading exchange for Cardano projects. It has never been easier than this for traders and the larger community to explore Cardano Native Tokens on a single platform, all thanks to LCX!
