LGO exchange is a platform based on a new decentralized blockchain protocol that provides full transparency for users preventing any kind of manipulation in this way. It employs a hybrid model of exchange designed to combine the features of centralized and decentralized architectures thus using the best features of them both. They include, for instance, such benefits as fiat support, good authentication, simplicity, transparency, and fairness. The system of this kind merges the standards of traditional markets with the potential delivered by blockchain and cryptography. LGO assures that it is the number one Bitcoin exchange in France and number two in Europe by daily trading volume.
LGO exchange known previously as Legolas exchange was founded by the LGO group but was renamed in April 2018. Despite the rebranding, the platform is based on the same technical framework and adheres to the same principles. The company has created two subsidiaries to tailor to the specific needs of the clients. Along with LGO exchange that is a semi-decentralized exchange for retail investors, it also founded LGO Markets that serve the needs of institutional investors.
The main concept of the platform is based upon the principles of fairness and transparency. Employing best-in-class hardware and software solutions, the company aims to build trust upon technology. One of the goals LGO pursues is to allow institutional investors to enter the cryptocurrency market that is, in the opinion of the company, the key to the stability of the whole ecosystem. Besides, the institutional investors provide additional flows and rationality to the cryptocurrency market so the activities of the platform contribute to the strength of the cryptocurrency sphere.
The founders of the exchange think that transformation of the capital markets is conducted via the following technological levers: automation of all processes via strict but modifiable business logic, full digitization of the entire chain of value transfer with blockchain, and openness with the help of external APIs employed for the automation of the clients’ businesses and the creation of their products. It demonstrates the approach of the company to the business processes it tries to implement on the platform.
LGO is a platform for purchasing, selling, lending, and borrowing cryptocurrencies, stable coins, and tokenized assets. The company conducted ICO in February 2018 and issued the LGO token in March 2018. This is a utility token used for payments on the platform that also provides access to the discounted services. At the time of writing, the coin is listed on the LGO exchange and iDex.
The customers of LGO Exchange get access to custom analysis tools such as profit and loss per trades, time period, type of asset, and volume. The design of the platform presupposes auditable trade history and order book with real-time proofs of reserve. The exchange provides opt-in functionality for institutional clients that enables them to get a detailed log of all transactions for automatically generate tax documents and other reports in a specific format prepared for accountants and tax offices. Transparency achieved by the team helps to create a fair trading environment while a partnership with Makor Securities, a global brokerage firm, provides scalability, speed of financial operations, and reliability. In particular, the company takes advantage of Makor’s existing custodian relationships with most global banks.
Users can start trading on LGO via the Desktop App interface or via API. Market orders and Limit orders are available for traders. For spot trading, three pairs are available: BTC-USD, USDT-USD, LGO-USD. As for OTC trading, the following assets are available: BTC, USDT, USD stablecoins (USDC, PAX, TUSD), DASH, XRP, BCH, LTC. The company also offers fiat support in USD, EUR, JPY, CAD, GBP, and MXN. All clients have access to the trading wallets and collateral wallets used for different purposes.
The platform manages over 110 Terabytes of data to be ready for processing of any amount of data generated by the customers. A high-performance market data gateway is reliable enough for effective output under any conditions.
The LGO exchange features unparalleled flexibility and modularity due to its software design and architecture that provide the possibility to reconfigure any components to tailor the product to the needs of the particular partner.
The separation of the execution system from the settlement layer of an asset makes the platform suitable for any asset. In fact, it can adapt to any asset in case it’s tokenized and blockchain-based.
The company managed to design a highly reliable platform thanks to the extensive experience of its team in the sphere. Also, cooperation with Ledger helps to attain an advanced level of security. For instance, the platform offers optional features based on multi-signature to control active and cold storage. Secure two-factor protection is enforced along with FIDO U2F support or client certificates. The protection methods that are vulnerable to phishing attacks are not allowed and can be used only temporarily.
The system doesn’t authorize weak methods by default. Dedicated HSM (Hardware Security Module) storage is offered as an option for users. The platform also uses a customized DDoS shielded hosting solution with network and application levels firewalls, secure HTTP headers for TLS encryption, CSP & X-XSS-Protection for prevention of XSS attacks, XFO (X-Frame Options) to combat clickjacking attacks and other security measures.
The key figure of the team is Frédéric Montagnon, the founder and CEO of LGO Group. He is the entrepreneur and investor with huge experience as he was the founder and initiator of the companies that later evolved into brands worth 400 million USD. He entered the top 7 list of largest investors in France. Being an influential figure in the cryptocurrency area, his opinions and commentaries are published frequently. As for LGO Markets, the position of CEO is taken by Hugo Renaudin, a co-founder of this subsidiary. Hugo is Ecole Polytechnique and Columbia University alumni.
Another important personality is Ouziel Slama, CTO of LGO Group, with 20+ experience as an internet entrepreneur. He was an advisor and blockchain developer in several cryptocurrency projects which proved to be successful thanks to his contribution. He also worked as principal software manager at Symbiont.io.