07 January, 2022
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End of week update

07 January, 2022

Yield Farming Going Live!

Bitrue’s new yield farming hub goes live January 10 and the entire Lox Trio will be among the introductory tokens available at launch with and advertised APY that could exceed 150% at launch! According to the , the hub is similar to DeFi staking pools and use $BTR to generate profits and passive income. Unlike many DeFi pools, there is no risk of impermanent loss because the rewards are coming straight from the projects, making BTR the world’s first and only yield token. For more information on Bitrue’s Yield Farming Hub, please read here.

Questions from Lox Family

Our first question comes from JPW88. “Is there any listing planned on new exchanges?”

Yes, we do plan to have more listings on other exchanges. No, we can’t name any exchanges that we are currently discussing potential listings.

There are a lot of moving pieces going on behind the scenes involved in an exchange listing from the obvious such as listing fees and identifying an exchange’s demographic to more indirect considerations including the drastic time zone differences while scheduling meetings and coordinating details like preferred color schemes to remain consistent to each other’s branding.

As Lox Technology is newer and still building, it takes time to familiarize our team and business objectives to the more established, larger teams at various exchanges. This is what makes up much of Alejandro’s day (and maybe night if the exchange is on the other side of the world).

Like any other business deal, as soon as the contracts are signed, receipts are paid in full and both teams are briefed and on the same page, we will make a public announcement.

Our next question comes from Nibrahi on Discord. “Is the upcoming commercial partnerships later this year going to be with mobile phone manufacturers OR with cell phone carriers?

Yes, as you said, one of our main objectives this quarter is to announce commercial partnerships. Similar to the answer on exchanges, unfortunately, we cannot name any names until the contracts are finalized.

That said, our partnerships don’t need to necessarily start and end with manufacturers and carriers. Insurance companies, NFT artists, security tag manufacturers and app developers are just a few businesses that could integrate our services into their product and vice versa. Also, Lox Network will be a hyrid blockchain when it’s fully built. Meaning any blockchain development company could plan to build on top of it or bridge their product to it. This really opens the door to the possibilities of who could decide to partner with us and who we could reach out to ourselves.

And our last question for the day comes off Twitter from Kroust. “Lox wants to prevent smartphone theft, but do they have any other plans?:

Lox Technology was born to provide a solution in smartphone mobile security and has since expanded beyond that idea. Smartphone theft prevention is one use case that quickly tied into a peer-to-peer type of resale market to easily transfer your phone to another person. While working with other developers and potential partners, it became clear that our original plans needed to be better clarified. Many with us from our transition from Ethereum to XRPL remember that our intention was to build a private chain built on the XRP Ledger, but that had multiple challenges and created a lot of confusion in various already established KYC processes. This led to us needing to do better and encouraged more growth on our end that ultimately led to the development of the hybrid blockchain, Lox Network.

The hybrid blockchain model allows us to better explain and demonstrate to our partners the Lox Technology vision. Lox Network in it’s completed state will share DNA with XRPL, EOS and Hyperledger fabric to interoperate with the XRPL and soon-to-be Flare Network.

This is the long way of stating that consequently, this new development course also offers new avenues that we can implement whereas before could only imagine.

Our partnerships have already created opportunities to discuss unrelated development teams to build on Lox Network bringing new ideas to the table. We are also building to incorporate an NFT marketplace which would allow Lox users to trade digital collectables, phones and (eventually) other physical items all tracked on the hybrid blockchain.

One of the most exciting elements we’re looking to add is a nano tagging technology to allow Lox users to track virtually anything that they want to slap a tag on.

Wrap Up

Keep the questions coming! We still have 13 more in the queue that will address over the next few days, but our lines are always open. Feel free to tag our ambassadors and staff and we’ll add it to the list of questions. – Team LOX

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