LCX Forms a Partnership with Polkadot to Advance Parachain Technology

LCX has announced a strategic partnership with Polkadot to bring about a new standard for security tokens and tokenized digital assets according to a press release. Notably, Parity Technologies, the building foundation of Web 3.0, will guide the partnership.The company plans to bring about the security token standard and parachain for the LCX DeFi terminal. Monty C. M. Metzger, CEO of LCX said they are the first known parachain candidate led and created by the core team of a centralized exchange within the Polkadot ecosystem.Bringing Security and Corporate Tokens to PolkadotLCX is coming up with an infrastructure for security tokens and corporate tokens on Polkadot. The company will make this possible through the Liechtenstein Protocol, the first step to creating a decentralized compliance protocol for security tokens. The protocol offers solutions to the challenges currently limiting the growth of digital securities such as private securities issues, transfer, or trade.Liechtenstein also introduces a regulatory framework, the Blockchain Act, that will bridge the gap existing between the physical and digital world. In addition, it will define critical roles surrounding the value chain of tokenization. Polkadot will benefit significantly in launching commercial projects through the protocol.Fire Salamander FunctionalityThe other functionality that LCX brings to Polkadot is the Fire Salamander. On 12 August, the company unveiled the Fire Salamander upgrade, the LCX Terminal 2.0. It prides itself on being the most potent DEX Aggregator in the market. With the upgrade, it looks set to hold this position for a while.Polkadot provides the perfect opportunity for LCX to build on its parachain technology and expand Fire Salamander even more. Parachains are the final core functionality to Polkadot, allowing it to realize its scalable multi-chain architecture.With parachains in place, LCX can experience specialization and flexibility, scalability, interoperability, and governance on the network.Parity Technologies Support to the…