The Newly launched exchange blockchain by the LA Token which is on a slow start as of this moment considering how competitive the whole market is has made claims to be Defi Hub of the network users and also claims to be compatible with Ethereum based platforms.
LACHAIN To Help LA Token Become The DeFi Hub
The LA token is a new player in the scene as it launches its own blockchain in collaboration with the LACHAIN network. It claims to give its users the position to acquire decentralized Finance products and also make it easy to communicate with various other networks.
On Thursday LACHAIN which is Ethereum Virtual Machine (EVM) and WebAssembly(WASM) compatible went live for the sake of LA token to meet the expected growth in demand and also act as token bridges in between various other networks. LA Token which was first introduced in the market in 2017 has had more than $250 million in trading volume within the last 24 hours.
LACHAIN is similar to other platforms Polygon and other Blockchains which have EVM compatibility which allows for security and easy transfer between other Ethereum based platforms and also gives proof-of-stake(PoS).
The LA Token which has claimed to be “The Defi Hub” will be expected to handle only DeFi services as of now. LA Token’s own LADEX which is a decentralized exchange (DEX) is compatible with the only decentralized application also known as the DApp on LADEX’s network.
As of the time being LACHAIN has had over 150,000 transactions between other Ethereum based platforms amounting to $ 23 million in Total value locked (TVL) from 6 tokens which include Polygon, BNB, Ether, and others.
LACHAIN, which is a centralized exchange blockchain, will be entering the ecosystem and will be in competition with the likes of BNB Smart Chain, KuCoin with KCC, and Crypto.com’s Cronos. Right now BNB (previously known as Binance Smart Chain) is the biggest blockchain in terms of exchange with its market capital nearly about $8.3 billion in BNB.
LA token is trading at about $0.10 after a fall of 94.2% from its highest value recorded at $1.82 in January 2018.