Leondrino is going to launch its Restricted Trade functionality on December 17, 2018. From that date, Leondrino Wallet users will have access to the Restricted Trade Mode of Leondrino Exchange through their Trading accounts of Class C Tokens that are already eligible for trading.
How do you open a Trading Account?
The new release of the Leondrino Wallet shows the token accounts in a new design that supports a GIRO Account and a TRADING Account as well as the SUMMARY of both.
For each token of Token Class C that is eligible for restricted trading, you will be able to click on the tab TRADING and activate the trading accounts for that specific token and its related markets available for trading.
As soon as you have activated your TRADING Account of the desired token, the button TRADE will appear that gives you access to the available markets for this token.
Please note that you still need to transfer your tokens from the GIRO account to the TRADING account before trading.
What does Restricted Trade Mode mean?
Restricted Trade Mode means that you as a user of this functionality have the following trading limits in order to stay within the regulatory restrictions in Germany: The maximum amount per transaction must not exceed an amount of 250 Euro and the volume per month is limited to 10 000 Euro per user.
With the start of the Restricted Trade, you can sell tokens, that you previously purchased during an ITO or ICO or that you have received as an Airdrop, as tokens in Token Class C to other Leondrino Wallet users by placing a sell order. Please note that you cannot offer your tokens below the ultimate ICO token price.
You can purchase tokens of Token Class C from other users through a buy order and use them exclusively to purchase goods and services of the associated brand. In the Restricted Trade Mode, reselling of tokens you purchased through a buy order is not supported for Token Class C tokens. This restriction will be lifted with the subsequent switch to a higher token class.
In addition, the “markets” (currency pairs) will be released step by step; initially for the currency pairs Class C Tokens/ETH. Further currency pairs will follow in 2019 as soon as they can be made available by our banking partners.
We will inform you about further functions and higher token classes before they become available.
Your Leondrino Exchange Team Germany