ROAD TOWN, BVI / ACCESSWIRE / September 30, 2022 / Tangent has announced that LCX will be the chosen exchange to manage the $TANG Token Sale through their compliant token sale platform. Tangent has chosen LCX as its exclusive token issuer to execute a compliant initial coin offering of $TANG tokens.
Sale commences 1st October 2022.
From the get-go, Monty and the LCX team have understood and supported our vision of bringing utility to the NFT scene on Cardano. Their professionalism and experience has made the on-boarding process a smooth one. We are delighted to partner with LCX exclusively, for our fully regulated token offering - Ben Gordon - Co-Founder & GM, Tangent.
Tangent is a unique project built on top of the Cardano blockchain and we're excited about this partnership to issue $TANG tokens," said LCX's CEO Monty Metzger. "LCX is experiencing one of its most prolific eras of innovation and new product development in its history. $TANG token will function like most other native Cardano tokens."
The $TANG token sale will be managed by LCX's Token Sale Manager, which will include knowing your customer (KYC), anti-money laundering in accordance with investor onboarding, and blockchain analytics (KYT) standards. Tangent manages the $TANG token sale in a compliant manner by leveraging LCX's extensive token sale manager and crypto compliance suite. Tangent's private and public sale rounds are being handled by LCX.
As the official token issuer and token sale manager for $TANG, LCX will plan the legal factors and register the sale with the regulator. In conformance with the Financial Market Authority and regulatory approvals, LCX will manage several key aspects of the token sale. The whitepaper, terms of the $TANG token sale, and an independent legal opinion from a credible European law firm categorizing the $TANG token as a utility token will be included in the notification to the regulator.
Tangent Contributing Inclusively In The NFT Market
Tangent is on a mission to develop a unique solution to bridge the gap between Non-Fungible Tokens (NFTs), finance, and tangible real-world asset classes, given the Non-Fungible Token (NFT) industry's explosive expansion and widespread blockchain usage. The Tangent DeFi app will be a permissionless platform where investors, artists, and other parties can stake, get incentives, and experiment with innovative NFTs on the Cardano blockchain in a secure and sustainable manner.
Tangent feels that the platform should ultimately become independent and community-led. To achieve this objective, they have designed the TANG token as a governance token whose primary function will be to actively steer Tangent towards self-sustainability and shared community ownership. The token has been issued on the Cardano blockchain and will be a tradable asset that behaves similarly to the vast majority of other native Cardano tokens, except that it can also be used as a voting mechanism.
TANG holders will be able to directly participate in governance by voting on ideas pertaining to the token's development and usage, as well as the future of the Tangent platform. Any proposal that meets the governance protocol's proposal requirements will be eligible for a vote by the community.
SOURCE: Tangent Art