General Characteristics

LegalX is an innovative project that merges blockchain technology with real-world accountability to combat fraud and scams in the cryptocurrency space. Positioned as a pioneer of LegalFi, LegalX aims to create a self-sustaining ecosystem that funds lawsuits against malicious actors while rewarding token holders through revenue-sharing mechanisms. It emphasizes transparency, justice, and passive income opportunities for its community.

$LEGAL, an Ethereum-based token, plays a key role in funding legal efforts within the LegalX ecosystem, distributing passive income to holders, and supporting ecosystem operations through transaction-based reflections.

Roadmap

LegalX’s roadmap is outlined in five stages.

• Stage 1: Fair token launch, liquidity lock, and first ETH & SOL revenue bot deployment.  
• Stage 2: Team expansion, legal actions, and partnerships.
• Stage 3: Copy trading bot launch and exchange listings.
• Stage 4: LegalX Exchange licensing and gaming platform development.
• Stage 5: Launchpad implementation, debt buying, and transition into a publicly traded company.  

Functionality and Utility

LegalX’s utility is tied to several key functionalities within its ecosystem. This includes:

• LegalX Litigate: A legal platform aiding crypto investors in fraud cases. 
• LegalX Exchange: A proprietary trading platform ensuring compliance.
• LegalX Launchpad: A vetted launchpad for new crypto projects with liquidity support. 
• KYC Program: Verification services for crypto startups.  
• Revenue Bots: ETH and SOL-based trading bots, with profits redistributed to holders.  
• Non-Profit Arm: Donations converted into buybacks for $LEGAL holders.
• Debt and Asset Recovery: Judgment collections, tax lien purchases, and financial services.

Market Performance and Dynamics

$LEGAL has a total supply of 1B tokens. Its tokenomics include a 5% tax on transactions (3% for the LegalX Legal Fund and 2% for reflections) and a buyback and burn mechanism funded by various revenue streams.

When filing this report, $LEGAL traded at $0.0001955, down 3% in the past 24 hours. Its market cap currently stands at $192.76K, with a 24-hour trading volume of $7.63K and liquidity of $99.63K.

Community

LegalX’s community is gradually growing on social media platforms like X, Telegram, and Discord.

Pros

• Innovative LegalFi model
• Revenue-sharing mechanism
• Multi-utility token
• Clear and ambitious roadmap

7 Questions to LegalX Team

1) What was the driving force behind the creation of Legal X? Did any particular scam or fraudulent event inspire you to launch this initiative?

What motivated the establishment of Legal X? Was there a specific scam or fraudulent incident that prompted you to initiate this project? This is an excellent question and indeed the most crucial one. The answer is affirmative; we experienced a scam resulting in $20 million in unrealized gains and $1.4 million in realized gains. In 2022, I was involved in a project, which I will not name here, but it is documented in my federal court records, allowing your readers to investigate further. After the project's inception, I was approached by an old acquaintance from 2017, who had previously expressed interest in acquiring my then-owned company. To summarize a lengthy and complicated situation, I entered into a partnership with him and delegated the development work to him. However, he delayed the project's progress, leading me to lose patience and request a buyout of my stake. He agreed but failed to fulfill the payment for that buyout. Subsequently, he misappropriated nearly $6 million from the project within five months before abandoning it. Frustrated by this experience, I filed a federal fraud lawsuit against him and secured a judgment of $1.4 million. Following this, I spent approximately seven months with a judgment firm pursuing my assets, on which we had filed liens post-lawsuit. Thus, I dedicated nearly two years navigating the federal court system, observing the proceedings, and establishing numerous legal connections. Once the process concluded, I decided to realize my vision for Legal X and appointed Jennifer Matthew to manage the business operations. And now, here we are, just five days post-launch on Ethereum.

2) Crypto scams and frauds have been rampant for years. Why do you believe now is the right time for a legal-based crypto accountability project?

Crypto scams and fraud have been prevalent for many years. What makes you think that now is the appropriate moment for a project focused on legal accountability in the cryptocurrency space? I don't necessarily subscribe to the idea of timing; rather, I believe the opportunity is present now, especially after my experiences navigating the federal court system. What we are developing serves as a modest deterrent within this sector. We are fully aware that we cannot resolve all the issues, particularly since much of it operates anonymously. However, we can at least bring some of these individuals out from behind their screens and into a courtroom. That is when the situation becomes tangible.

3) Many projects promise security, but few offer real-world enforcement. What makes Legal X different from past attempts at crypto fraud prevention?

Numerous projects claim to provide security, yet only a few deliver tangible enforcement in the real world. What distinguishes Legal X from previous efforts in combating crypto fraud? That is an excellent inquiry. The key factor is our network. We have established a substantial roster of civil attorneys who are prepared to represent us and the communities we serve. This aspect has always been the most challenging—locating a lawyer with expertise in cryptocurrency who can effectively advocate in court. Additionally, we maintain direct communication with certain field offices of the FBI and SEC, enabling us to pursue follow-ups after our civil cases and potentially engage them in criminal investigations. Building these connections was one of the most difficult aspects of my own experience, but along the way, we received support from individuals who are now holders of the LEGAL token, providing us with valuable contacts. Without their assistance, we likely would not have progressed as far as we have.

4) What is the significance of community governance in Legal X? Will token holders influence the prioritization of cases or the allocation of recovered assets?

This has been a challenging aspect during the development of our project, and it remains a topic for ongoing discussion. Achieving consensus among a predominantly male demographic in the cryptocurrency sector is likely to be difficult. Therefore, Legal X Global LLC will initially determine the first few lawsuits to be introduced to the market, refining the process as we progress.

5) $LEGAL is integrated as a fundamental element of your ecosystem. Could you elaborate on how its functionality extends beyond merely financing legal actions?

Thank you for your inquiry. The act of initiating lawsuits, and ideally securing victories, primarily serves as a demonstration of our commitment in the courtroom, though the financial gains are often minimal. Even if we achieve a favorable judgment, the process of collecting that debt typically occurs at a significant discount relative to what is owed to our investors. With this understanding, we sought to devise a strategy to generate revenue for our token, ensuring the ongoing support of our legal fund without solely depending on crypto investors to contribute to the legal wallet through the 3% tax on our contract address. Throughout 2024 and into 2025, we observed how Pump Fun adversely affected the market by depleting liquidity, prompting us to consider an alternative approach. We decided to acquire our own technology platforms, enabling our users to utilize our crypto technology while returning the liquidity to them. This led to the creation of a model where nearly all of our technological applications are designed to generate revenue for Legal X, with the majority of proceeds directed back to our token holders. We plan to achieve this by purchasing the LEGAL token on the open market using the revenue generated from our tech platforms and subsequently burning that supply. This process will positively impact the market price of the LEGAL token and provide our holders with reflections set at 2% on each transaction. Consequently, even during challenging market conditions, our holders will continue to benefit from these reflections. Our long-term vision includes establishing a public company and ultimately seeking a listing on Nasdaq, positioning ourselves to be at the forefront when stock tokenization becomes permissible. By adhering to this model, I believe both facets of the company—the crypto segment and our public company—can mutually benefit from one another.

6) The Legal X Exchange is included in our strategic plan—will it function as a conventional cryptocurrency exchange, or will it prioritize legal and compliance-oriented crypto services?

Our exchange is designed to serve multiple purposes, including trading, KYC (Know Your Customer) processes, and a Launchpad. The primary objective is to foster our community and encourage our token holders to engage with these platforms. All generated revenue will ultimately benefit them, as 100% of trading fees will be returned to our holders. Additionally, 50% of the fees from KYC and Launchpad services will also be redistributed to our holders. The overarching aim is to establish an ecosystem of Real World Assets (RWAs) that Legal X Global LLC will directly control. The revenue produced will not only be returned to our holders but will also enhance the on-chain value of our LEGAL tokens. This increased value will support our public company initiatives, positioning us to acquire cryptocurrency technology and expand the tools available to our token holders. Ultimately, our focus is on generating revenue.

7) Looking forward, do you believe that global cryptocurrency regulations will tighten, or will decentralized innovations like Legal X contribute to the development of a self-regulating crypto industry?

I cannot provide a definitive answer to this question, nor will I pretend to have the expertise. This is a domain I prefer to avoid personally. I am optimistic about our potential success in what I refer to as the new LegalFi sector, but to become pioneers and leaders in this field, we will require substantial support from a wide array of individuals to achieve our goals.

Official links

CA: 0xa3b71ADD41C9E4E1034fe665F946BAebFE9c07C4

Website

Twitter

Telegram

Discord

Where to buy

Uniswap

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