LEXIT (LXT) secures an exchange listing for the first platform token used to conduct deals in the $3tn rated M&A market, as it looks to open the gates to a free market of assets and ideas.
LEXIT lists the first token on an exchange with focus to fueling a mergers and acquisitions marketplace. The native platform token provides value in creating a seamless, fast deal process while allowing platform fees and advisory help to be paid for in full with LXT tokens.
Businesses and individuals are able to trade assets, intellectual property and whole or parts of companies on LEXIT, which announced that its LXT token will be trading on the BitMart exchange from November 1.
Mergers and acquisitions are not generally straightforward processes. First, there are opening negotiations, followed by legal to-and-fros which can last for months. Next there are sheathes of contracts and paperwork to be completed and signed before a deal is finalized.
But such deals are often a strong driver of growth and innovation; the recent $34 billion acquisition of Red Hat Software – the biggest ever software acquisition deal – by IBM is being touted as helping it to bring major stimulus to the development of cloud computing with potential to birth an ‘über-cloud’.
Access to the global M&A market, one that exceeds $3tn in value annually, has however been historically limited to large companies. There is a prospect for LEXIT to scoop up a market of predominantly SMEs, who have deals to make but currently face barriers, notably in cost and limited networks in which to find a buyer.
On LEXIT, however, automatic smart contracts allow an M&A deal to be completed quickly and cheaply, as soon as both sides fulfil their side of the terms. This means a deal closes in about a quarter of the time and up to six times less the cost than it would today.
LXT being listed on BitMart also follows the launch of LexICO, a crowdsale solution to help startups launch a token sale in a matter of days. The platform offers discounts to those who pay in LXT and offers a fully customizable interface with extra functionality for bounty campaigns and airdrops.
Companies can connect from across the world using an online M&A marketplace. LEXIT aims to be the goto platform for businesses seriously looking to expand operations by acquiring other companies or purchasing intellectual property and assets.
LXT tokens serve vital utility on LEXIT: to pay for nominal listing fees, advisory help and even trades themselves and working to turn a closed M&A industry into an open, seamless and free market.
Businesses at any stage in their life cycle can benefit from LEXIT, which is a platform built with the view to maximise the potential of assets and ideas.