19 January, 2022
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Start of week update

19 January, 2022

Lox Network

GM, #LoxFamily! It’s another week of building and sourcing talent for MetaLOX, the Lox Network website is in the process of updating, both SmartLOX and SmartNFT will get their own identity and sites after the LOX Network site is complete and MetaLOX’s website is in the planning stages. In other words, not much has changed since the last update, so this is a very brief one today.

Airdrop

We’re still waiting for both Bitrue and Probit to decide if they can support the MetaLOX airdrop. That said, we have decided to release the MetaLOX trustline at the end of January. The trustline release does not mean that we will perform a snapshot. We will not move forward with making any decisions on snapshots timeframes until we are confident that we understand Bitrue’s and Probit’s respective intentions to support (or inability if that’s what either decides). If you are unsure on what a trustline is or how to set one, please refer to the official XRPL documentation or trusted sources like XRPL.services and XRP Toolkit. We will provide details such as airdrop requirements, recommendations on how to participate (based on our exchanges’ decisions) and snapshot timeframes at a later time, but for those who are self-custodians of their Lox Trio may be able to set the MetaLOX trustline this month.

Giveaway Update

Due to supply issues in the UK, the Huawei P40 Pro is still unavailable in the country. We had to make a decision to change the Huawei P40 Pro to the Google Pixel. More information on that will be available on our Twitter account later.

Questions

Bojan asks when we can expect a Tier 1 listing. As previously answered, yes, we do plan to have more listings on other exchanges, including Tier 1 exchanges. No, we can’t name any exchanges that we are currently discussing potential listings.

As Lox Technology is newer and still building, it takes time to familiarize our team and business objectives to the more established, larger teams at various exchanges. This is what makes up much of Alejandro’s day (and maybe night if the exchange is on the other side of the world).

Like any other business deal, as soon as the contracts are signed, receipts are paid in full and both teams are briefed and on the same page, we will make a public announcement.

Dr. Ripple asks if LOX will be an F-Asset on Flare Network. One, we’re still waiting on Flare Network to launch ourselves. If you’re unfamiliar with this term, please refer to Flare Network’s explanation (or an even more clear in depth definition in the Flare Finance Whitepaper — please remember regardless of the names, they are indeed seperate teams as confusing as that may be). F-Assets, at least at launch, will be limited to very large cap coins on blockchains and ledgers incapable of smart contracts like XRP, XLM and Litecoin. This brings DeFi to those chains. Other F-Assets can be added to Flare Network only through proposals created by the decentralized community, and then voted on by the decentralized community. If successfully passed, then the token or coin will be added to the list of F-Assets.

The challenge to this will be convincing the community. Many future Spark token holders are old school XRP community members, and many are not interested in newer XRPL tokens. And many community members who are excited by newer XRPL tokens are fairly new to the XRP community — meaning their future Spark airdrop is probably quite small in comparison to the OGs (if they’re even entitled to a future Spark airdrop).

It’s not to say that it will be impossible, and time will certainly help increase those odds. However, S-Assets on Flare’s canary network, Songbird Network, may be a more viable alternative as there are significantly fewer barriers there. This is something that we will seriously consider. But to temper expectations, we may leave it to the #LoxFamily to formally propose and vote on when we have that capability built.

Wrap Up

There’s so much being built around us! Sparkles NFT announced their Songbird NFT marketplace is launching, a team called Neefty is building an NFT rarity check tool for Songbird, and, of course, BIG changes to the XRPL. Please remember to tag Bitrue and Probit asking them about their potential support of the MetaLOX airdrop and be on the look out for the MetaLOX trustline release. Again, when we release the trustline, it does not mean that we have made any decision on snapshot details. Thanks for the support as always! – Team LOX

Louie Penty
Manager

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Company No.13083900  .