DigiCorp Labs Lock Up 246,977,306.43 DGMV Tokens in LCX Vault

DigiCorp Labs Lock Up 246,977,306.43 DGMV Tokens in LCX Vault

DigiCorp Labs has announced that it has successfully locked up 246,977,306.43 DigiMetaverse (DGMV) tokens in the LCX Deep-Cold Storage Vault (LCX Vault) until at least December 1, 2023.

DigiCorp Lock-Up Millions of DGMV Tokens

Last November, DigiCorp Labs successfully launched its metaverse ecosystem called DigiMetaverse (DGMV), an ecosystem, where DigiCorp develops and provides access-, identity-, data- and communication tools and solutions for a more secure and decentralized Metaverse for consumers, brands, and corporate enterprises. In partnership with Threefold, we joined forces to bring a truly decentralized infrastructure with DigiByte blockchain security for people and enterprises.

Fast forward to April 27, 2022, and the DigiCorp Labs team has achieved another significant feat, by locking up 246,977,306.43 DGMV tokens (almost 25% of the total supply) in Deep-Cold Storage (LCX Vault) until at least December 1, 2023.

The team says LCX Vault is a secure digital assets custody solution that operates in accordance with the Liechtenstein blockchain laws. The LCX Vault Deep Cold Storage is an institutional-grade crypto custodial system audited, insured, and at the highest physical security standards. 

The team says the LCX Vault is situated at a high-security secret building in the Principality of Liechtenstein with 24/7 guards and concrete-reinforced blast doors, created by Swiss security experts to guarantee the highest standard of protection. 

The LCX Vault is a proprietary bank-graded cold storage solution that incorporates the highest standards of cryptographic and physical security. 

Why LCX Vault?

DigiCorp Labs has made it clear that LCX AG the company in charge of the LCX Vault is its Token and Trusted Technology Service Provider (TVTG), operating under the statutes of the Liechtenstein Blockchain Act (Token and Trusted Technology Service Provider Act – TVTG) which came into effect in January 2020. 

The team says the TVTG legal framework provides the world’s first holistic approach to the token economy, putting in place measures that foster investor protection, plus regulated and compliant custody solutions for cryptocurrencies, tokens, and all forms of digital assets. 

Under the TVTG legal framework, cryptocurrency market participants (exchanges, wallet providers, etc) are categorized as either trusted Technology (TT) Key Depositories or Trusted Technology (TT) Token Depositories. These entities are subject to the Due Diligence Act (DDA) and FATF standards and money laundering supervision. 

Certificate of Asset Protection 

The team wrote:

“Below you can find the scan of our Certificate Of Asset Protection, with authorized signatures, signed by the board of LCX AG. This is to certify that DigiCorp Labs declares that the Company Reserve of 246,977,306.43 DGMV tokens will be locked up and stored in an insured high-security cold storage facility. DigiCorp Labs declares that the company reserve of DGMV token will be stored in this cold storage facility until at least 1st of December 2023.”

DigiCorp Labs Company Reserve Address: https://etherscan.io/address/0x73799f94417fc0aef3ab18e7882fabeda13860a5 

In a related development, in March 2022, DigiThree Labs signed a proof-of-concept partnership deal with LCX exchange, to enable the Liechtenstein-based crypto exchange to pilot the former’s DGMV Authenticator to secure its login procedure.

Further, it’s also worth noting that the DGMV token will list on the leading Binance Smart Chain-based decentralized exchange PancakeSwap today with the trading pair DGMV/BNB.

At press time, the price of DigiMetaverse (DGMV) token is hovering around $0.1433, according to CoinMarketCap.

Ogwu Osaemezu Emmanuel

Ogwu Osaemezu Emmanuel is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Emmanuel believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.