Full Name: Litex
Max Supply: 2 billion LXT
Circulating Supply: 700 million LXT (2018-07-05)
Market Cap: $14.67 million (2018-07-05)
Issue Price: 1ETH = 26,667LXT
LITEX is a completely decentralized payment ecosystem for cryptocurrency. Built on the business model of YeePay’s star product (the non-bankcard payment solution) along with the BOLT protocol, the LTXN （LITEX Network) enables crypto-purchasers to pay fiat money to merchants on behalf of customers for products and services, and the customers repay cryptocurrency to the purchasers. The whole process is insured by smart contracts, no centralized organization is involved.
There are two layers in LTXN’s architecture. The first layer is an upper-layer decision-making network that matches the payment requests and the fiat money requests. The second layer is a lower-layer lightning network that builds highly efficient and secure payment channels to transfer the cryptocurrency. The merchants receive fiat money payments from cryptocurrency purchasers through the acquirers. LTXN also implements an incentive strategy in the upper-layer decision-making network to reduce the potential centralization in the lower-layer lightning network.