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Decentralized finance platform Londex [ticker: LDX] is set to go live on April 30 along with an upgraded smart contract and new features. Functions of the new platform will include ability to change any token on the BNB Chain through their swap utility and could also include multi chain capabilities.
According to the company’s CEO Hussein Omar, Londex, which was founded in August 2021, had temporarily halted its trading services to “carry out the contract upgrade and LP [liquidity pool] migration” in “a response to ever increasing security threats in the crypto space, and the imperative need to protect investors”.
As the new contract has now been deployed onto the mainnet, trading services are now being resumed and all security processes upgraded and rolled out successfully.
Further developing Londex’s reputation for security and sustainability in the crypto space, the contract upgrade also includes the first AI process added to their hugely successful Guardian protocol.
The Guardian AI system will prevent manipulation and the theft of LDX tokens from scammers, and they plan to roll out this feature across all tokens operating within the Londex ecosystem.
In his message, Hussein Omar also noted that Londex is project that’s “here to stay” and brings “years of commercial experience to the table” as it prepares to improve the cryptocurrency space. Londex, after relaunching, will help improve the security of traders on the BNB Chain, and provide unique and necessary utility via its platform.
What is Londex?
The decentralized finance space has built up the reputation of being a type of “Wild West ” of the financial world, with hacks, thefts, and scams being more common than anywhere else. The industry is, however, constantly striving to take steps towards combating this, and security is being bolstered over time with the likes of Londex pioneering development and security mentality.
Most security conscious DeFi users will check a few main security measures: they either stick to ‘battle-tested’ projects that have been around for a long time and resisted being hacked, look for audits by popular security firms, or rely on trusted developer teams who haven’t created multiple failed projects.
These measures, however, do not completely protect users. Rug pulls and slow rugs, where the team behind a project simply removes all of its liquidity from a decentralized platform, are still very much possible, despite audits and great promises of trust. And this is just one of many tactics still being used by scammers and hackers plaguing areas of the crypto space.
Londex is a DeFi platform offering solutions to the problem through, along with its unique Guardian AI system, which prevents token thefts and can retrieve stolen tokens from the scammers’ wallets, they are also developing a crypto university with the focus on security and sustainability education.
Features initially available on the platform include swapping, staking, farming, an extensive dashboard, and a client referral system. These features will be used to service traders looking to engage with secure, well-audited projects that have been vetted and checked for malicious code or ill intentions. There is also a huge amount of other features to come later in the year, one of which is the Londex Launchpad.
Before projects are launched on Londex, they’re put under scrutiny to ensure the platform’s users are protected as best as possible against any scam. To ensure complete security, fully vetted projects will go through know-your-customer checks to be listed, ensuring a secure trading environment on the BNB Chain and through their relevant bridges.
Londex has also partnered with Finstreet to promote their educational content, aligning their plans with some of the top alt coins such as AAVE, Matic & Fantom amongst others. The university won’t just feature a click-through experience, but will instead be a genuine learning academy with rewards.
An embedded media section on the Londex platform will also include cryptocurrency entertainment, gaming, AMA sessions, and more to make the platform a one-stop shop for investors in the cryptocurrency space.
Aligned with the protocol is the Londex Foundation, which is registered to support people in developing nations through education and financial support. The foundation has already attracted the attention of celebrities and influencers with 10’s of millions of followers and Londex plan to aggressively expand this area of their business in the future.
Londex is also preparing several partnerships in the banking and fintech industry for the launch of their crypto debit card.
As for the ever growing NFT industry, Londex is renewing the development of Alpha Guardian NFTs, P2E gaming content, and marketplace integration directly from the Londex platform.
Londex has also advanced its marketing campaigns in the UK and abroad. Following the success of sponsoring West Ham FC in the English Premier League, and the fleet of 50 London black taxis, they have continued to build their Brand Ambassadors team and are working with a top centralised exchange on future expansion.
Co-Founder of Londex, Tim Saunders said “We have slowly but surely implemented the processes and infrastructure of the long term and sustainable business over the last year. The next chapter for Londex is to implement our vision and take the ecosystem to the higher echelons of the crypto industry”.
For more information and updates of the development of the project you can keep up to date by joining the Londex discord server, and checking the Londex website.