Innovative exchange and trading platform Bithumb Global has announced a 14-day LCMS deposit and trading event to celebrate listing of the LCMS coin on the platform. The event promises a 20,000 USDT reward in winning prizes, which is split into a figure of 6000 USDT for LCMS deposit, and 14,000 USDT for trading. The news announcement was made via Bithumb’s official Twitter handle on March 24th. The event commenced from that very day and is due to run till April 6th with a top prize of 3,000 USDT, followed by 2,000 and 1,500 USDT for second and third place, respectively. It has also been notified that users will need to pass the KYC2 verification to participate in the event. LCMS’ listing on Bithumb continues from last year, when the platform was listed on the USDT market of another major global crypto exchange; Digifinex in September.
LCMS platform operation
The platform uses blockchain for customer database management, information sharing, product development and data analysis in the manufacture and distribution industry, mainly within food and cosmetics. Through the LCMS platform, the community comes together for communication, review and idea sharing, while also being a part of the LCMS coin reward system. In October of last year, the LCMS platform announced the creation of a blockchain-based distribution service for groups that have become victim to the false and ill information within the existing distribution market. The platform aims to allow users to directly confirm information for all products over blockchain, such as distribution process management and production facility management, etc. Through this effort, users are also able to claim rewards through reviews and personal content development within the platform, which enhances trust between users.
The LCMS Coin is owned by Chairman of Cellmatherapeutics Co. Ltd. Byung-Hung Lee, and is based on the LCM Science business that is backed by the LCMS platform for its coin users. LCM Science itself is involved in the business of production and distribution of functional cosmetics, foods, and medical goods that are approved by the FDA in the U.S. marketplace. The LCMS project is integrating blockchain to track the path of raw materials used in producing various goods, which allows users to choose between products and maintain quality of production, while manufacturers get insight into what the customer wants.
Moreover, the coin also has a designated quarter for donations. LCMS coin holders can purchase coins from the foundation for donation purposes, which are destroyed when using for public interest projects. The blockchain-based donation system of the LCMS platform is being used to support underdeveloped countries and underprivileged communities. The process is designed not only to support those who need it most, but also with the aim of increasing the value of LCMS coin after every process of destruction by burning as a result of donation. In case 10% of the overall coin supply is burned in donations, new coins will be issued.
The LCMS roadmap shows plans for the year 2021, which includes three international exchange listings and NK-T cell cultivation center completion. For the first half of 2021, the platform aims to by-pass listing of LCMSCIENCE Co., Ltd. in the Korea Stock Market and launch the LCM home shopping platform. In addition, LCM has already acquired a company listed on the Korea Stock Market. Within the last two quarters of 2020, LCMS platform has completed manufacture of an FDA approved Covid-19 diagnostic kit and KF94 face mask, along with acquiring patents for controller and reset methods for solar lightning system and mobile house using recycled secondary batteries using solar energy.