The crypto platform LA Token has become the latest exchange for launching its own blockchain on the LACHAIN network. We want to provide users with access to decentralized finance (DeFi) products and bridges between other networks.
LACHAIN, Layer 1 Ethereum Virtual Machine (EVM) compatible and WebAssembly (WASM) compatible, went live on Thursday, allowing LA tokens to leverage the expected future growth of demand for token bridges across networks. According to CoinGecko, LA tokens were launched in the Cayman Islands in 2017, with trading volumes of $ 281.6 million over the last 24 hours.
EVM compatibility allows tokens on Proof of Stake (PoS) LACHAIN to be seamlessly transferred between other Ethereum-based networks such as Polygon and other networks including the BNB Chain (formerly Binance Smart Chain). .. WASM is a competitor to EVM, a smart contract platform.
The main workload of the new network is advertised as a “DeFi hub” on the website, so it is expected to handle DeFi services. Currently, the only decentralized application (DApp) that appears to be on the network is LA Token’s own LADEX Decentralized Exchange (DEX).
LACHAIN is a locked value (TVL) totaling approximately $ 23 million at the time of writing from six tokens, including LA and rap versions of LA, Tether (USDT), Polygon (MATIC), BNB and Ether (ETH). )I have. Currently, there are a total of 678 wallet addresses and 4 validators on the network. Each validator seems to be a wallet unique to LA Token. However, this could not be confirmed because the exchange has not responded to the request for comment. As of this writing, there are 194,615 transactions executed on the chain.
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LACHAIN is entering a highly competitive ecosystem of similar networks. Other centralized exchanges with their own blockchain network include Crypto.com’s Cronos and KuCoin with KCC. Today, the BNB smartchain (formerly Binance smartchain) is the largest decentralized exchange blockchain with a market capitalization of $ 8.3 billion. Similar to these exchanges, the LA Token Exchange Token LA will be used to pay fees and gas at LACHAIN.
According to CoinGecko, LA has fallen 1.4% in the last 24 hours and is trading at around $ 0.10. It fell 94.2% from the all-time high of $ 1.82 in January 2018.
