Leondrino Exchange starts ICO on November 6th in Germany

Nov 2, 2017

Sandra Leonie Ritter

Leondrino Exchange, Issuer of Digital Branded Currencies, Announces Its Own Digital Currency XLEO

On November 6, 2017, the new digital currency XLEO will be available as a Pre XLEO Token (PXLT) for a limited period of 4 weeks on the Ethereum Blockchain. The PXLT is offered by the Berlin-based Leondra GmbH, licensee of the Leondrino Exchange for the German market.

Berlin, November 2nd, 2017 – Almost everyone knows Bitcoin – in fact, there are now more than 1,000 digital currencies on the market worldwide. Many of those are not regulated. Leondrino Exchange, founded in late 2014, has set itself the goal to create a framework that enables companies and investors to safely use the new digital currencies. In this context, Leondrino Exchange offers companies currency management as a service and is working towards a regulated standard of its Leondrino Lifecycle in key jurisdictions. Branded currencies not only give companies the ability to raise growth capital, they are also a revolutionary customer retention tool.
According to Smith & Crown’s crypto analysts, blockchain startup companies have raised more growth capital through initial coin offers (ICOs) than through traditional capital increases in the first six months of this year. This new form of financing for companies through the issuance of a digital currency has therefore already proven successful in practice in the blockchain and crypto environment.
With the Leondra GmbH, the licensee of Leondrino Exchange for the German market, we are working together with partners and first pilot customers to create a platform to enable this new form of financing for traditional industrial and service companies outside the pure blockchain and crypto scene in Germany. Four small and medium-sized German companies are already preparing to issue their own currencies in cooperation with the Leondra GmbH.
Leondrino introduces the XLEO – a bridge currency that ensures rapid exchangeability of the participating currencies within the Leondrino ecosystem – to make the various brand currencies exchangeable. A partial amount of the so-called tokens will be offered from November 6th to December 4th, 2017 as Pre XLEO Token (PXLT) by Leondra GmbH on the Public Blockchain of Ethereum. After Bitcoin, Ethereum is the second best-known public digital currency network.
The XLEO token is used within the Leondrino ecosystem as a unit of account. It is planned to launch the XLEO token in mid-2018 via the upcoming Leondrino MainNet.
The funds raised through the ICO of the PXLT will primarily be used for the continued development of the company, especially in terms of software development, the clarification of regulatory and compliance issues, and the preparation for the launch of the planned Leondrino MainNet.

For detailed information about the PXLT TGE please visit https://pxlt-tge.leondrino.com; general information about Leondrino at www.leondrino.com.
If you have any questions, please do not hesitate to contact us by phone via 030 – 577 026 880 or via the email address presse@leondra.de.


Summary of the PXLT Token Sale

Token Sale Period

4 weeks: November 6, 2017 at noon (UTC) until December 4, 2017 (UTC) hard stop; Token Sale will be over once the max. contribution cap of 50,000 Ether (ETH) is reached.

Accepted Currency

ETH (Ether)

Initial Price

200 PXLT : 1 ETH

Bonus Schedule

First two weeks 200 PXLT for 1 ETH, second two weeks 175 PXLT for 1 ETH

Min Contribution Goal

10.000 ETH

Max Contribution Cap

50.000 ETH

Creation Cap

10 Million PXLT

How are funds held?

Via a Smart Contract on the Ethereum Blockchain

Smart Contract Security

Multi-signature smart contract for administration of a Token Generation Event (TGE) (enforces four-eyes principle to manage the TGE and the transfer of contributions)

Auditor

Backes SRT GmbH, Saarbrücken


Overview of XLEO and PXLT

Role of Token

XLEO: Bridge currency in Leondrino Ecosystem; additional function of reserve currency in the future;
PXLT (Pre-XLEO Token) is an interim token. PXLT will be exchanged for XLEO after the launch of the Leondrino MainNet. (Exchange rate: 1 XLEO for 1 PXLT)

Initial Distribution in PXLT Token Sale

10 Million PXLT

Token Supply of XLEO

Fixed „XLEO Base Line” of max 1.26bn including PXLT and all presales packages to institutional investors as well as the planned public offer to XLEO.
Additional supply depending on the total volume of all issued Leondrino to ensure the role as a bridge currency.

Blockchain /
DLT Platform

PXLT on Ethereum, Deletion of the PXLT after exchange into XLEO
XLEO on future Leondrino MainNet

Consensus Method

Proof of Work on Ethereum;
Proprietary consensus algorithm on a consortium network on Leondrino MainNet (will be audited by external auditor before exchange of PXLT into XLEO)


About Leondra GmbH
Leondra GmbH is the licensee of Leondrino Exchange for the German market. Leondrino Exchange is positioning itself as a currency-management-as-a-service provider using cryptocurrency and distributed ledger technologies. Leondrino Exchange introduces a new type of virtual currency – the Leondrino. Leondrino currencies are characterized by an acceptance obligation by the respective brand company and the unique monetary policy that is coordinated with the brand and clearly communicated to all those branded currency participants.
By using the potential of new technologies, Leondrino Exchange creates added value for global brands and their customers. Digital branded currencies not only give companies the ability to raise growth capital, they are also a revolutionary customer retention tool. Mid-term, these branded Leondrino are intended to be used as means of payment for goods and services and to be exchangeable for national currencies and other virtual currencies.

About Licensor Leondrino Exchange Inc.
Leondrino Exchange, Inc., a Delaware registered FinTech startup with its origin in Berlin/Germany and offices in New York was founded in November 2014. Leondrino Exchange’s goal is to become the most trusted issuer of digital branded currencies for enterprises.
www.leondrino.com

Press Contact:
Sandra Leonie Ritter, Peter Reuschel

Leondra GmbH
Licensee of Leondrino Exchange for Germany
Humboldtstrasse 3
12305 Berlin
Germany

+49 (0)30 – 577 026 880
presse@leondra.de

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