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LOCIcoin (LOCI) embraces Decentralized Exchange (DEX) model

LOCI, the full service provider for inventors, is proud to be fully embracing the technology known as decentralized exchanges (DEXs). The LOCI Platform is a first-of-its-kind token economy with incentives aligned so as to promote innovation and the staking of valuable ideas on the Ethereum blockchain. As with implementing any disruptive technology, there many shifting environmental factors that often trigger adjustments to strategy and implementation. This is especially true with the current state of centralized exchanges. The technology for DEXs is now mature enough for practical use while the value proposition of traditional counterparts is declining.

In this spirit, LOCI now advises our growing user base against holding LOCIcoin (LOCI) on centralized exchanges like Kucoin. Instead, consider storing LOCIcoin on either a account via our proprietory custodial wallet OR enjoy decentralized options such as the Bancor Network. More advanced users are also encouraged to hold their LOCIcoin offline on hardware wallet devices like Trezor and Ledger Nano.

Bancor is a truly decentralized exchange that offers enhanced security where all transactions are directly wallet-to-wallet via smart contracts. LOCIcoin is convertible into any Bancor Smart Token directly through its smart contract, without the need for a counterparty. Through this open source system, users can exchange LOCIcoin instantly using the Bancor Wallet or any other Web3 wallet, such as Metamask or MyEtherWallet (MEW).  

Integration with decentralized technologies like Bancor is important as LOCI’s Platform matures. LOCI’s product suite continues to grow with a number of major releases scheduled for 2019. Expect specific announcements in this regard during the coming weeks. In the meantime, we encourage our community to continue to utilize LOCIcoin by staking ideas with Invention Analysis (IA), a powerful tool that leverages machine learning to instantly provide users with feedback on the novelty of their ideas.

LOCI was founded on the belief that anyone can be an inventor, and technology should serve to help us all unlock our potential. That’s why LOCI is committed to helping 2019 be a big year for decentralized technologies by continuing to support those doing good in this space like Bancor Network.

About Bancor

The Bancor Protocol is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “connector” method to enable formulaic price calculation and continuous liquidity for all integrated tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. Visit the Bancor Web App to convert tokens instantly, list your token on the Bancor Network or join the Bancor Telegram group for more information.

About LOCI

LOCI’s mission is to disrupt the global patent industry, and to change the way the world invents and values ideas. LOCI specializes in helping aspiring inventors to Search, Analyze, Protect, and Monetize their ideas. To further understand the landscape of IP and learn more about LOCI, visit our website. LOCIcoin utility tokens are used exclusively within the LOCI suite of products for the purposes of searching, analyzing, staking and exchanging Intellectual Property.

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