Announcing the LATX Token Transition to WORK

LATX Moves to WORK

We realize that a change as significant as this comes with a need for full transparency, explanation and outline of the full path and schedule to accomplish this transition. By explaining the technical needs for this transition as the impetus to development, we hope to fully explain, assure and clarify everything that pertains to upcoming token changes, transition and conversion.

The Rise of Defi

As a definitive market and adoption opportunity, it is the goal of Latium to participate and build within these exciting new entries to the crypto ecosystem.

The LATX token was built on the core functionality of the Golem token. While this allowed for a vetted, secure foundation for the LATX token creation, it brought with it the caveat of not including a transfer function. Adding the transfer function will allow access to other projects development such as DEX, Defi, Complex Asset Contracts and unlimited future developments we cannot even yet imagine.

It’s our foremost goal and focus to change that. However, with that focus, comes some needed changes.

Choose WORK and Pay Easily

Existing LATX balances on the Latium platform will convert 1:1 to WORK on February 24th.

Any previously funded projects or pending payments in LATX will also transition automatically on platform to the WORK token. LAT and LATX will be supported for deposit, but will auto convert to the newly created WORK token. LAT will maintain the conversion rate previously set of LAT to LATX, but will convert at that rate to the WORK token. This highlights the process that token holders of LAT and LATX will be able to participate in. Any users holding LAT or LATX will be freely able to register at Latium.org, and simply deposit to their wallets page for the conversion to occur. Directly after, users are free to utilize their funds within the Latium platform, or withdraw as they prefer.

Additionally, in regards to the Latium Exchange, trade orders created with LATX that have not been filled by this time will be cancelled and LATX returned to users, which will then be converted to WORK. All LATX market pairs will be removed from the exchange, however, trade history will still be visible and available.

Any unclaimed coin cards created with LATX will be automatically changed to WORK.

Also, any Deposit Rewards created with LATX that are still in locked state, will be converted to WORK.

Transfer of LATX to WORK is 1:1 (one to one) and the token metrics of WORK remain unchanged to LATX.

We are excited about the new opportunities not only in the cryptocurrency industry, but also specifically with our outlined transition to the WORK token. We truly believe that this process will open new possibilities for platform and infrastructure participation. Additionally, this has the added benefit for all token holders and platform users within the Latium ecosystem.

Freelancing and Crypto Together

Since our inception in late 2017, Latium has continued to develop exciting new features, technologies and integrations within our core freelancing platform. By expanding the support of an increased list of crypto tokens, we offer a wider range of payment options for employers and freelancers alike. Additionally, the integration of USD allows for a direct fiat payment option, with withdrawals to third party payment processors. While the foundation of Latium is built on blockchain technology and concepts, we also know that the path for adoption of crypto is paved with a variety of traditional fiat and crypto offerings.

Social Updates

Latium is available additionally from the following social media channels:

FAQ — Frequently Asked Questions:

I participated in the token sale in 17’/18’. How can I convert my LAT or LATX to WORK?:

I hold LAT / LATX in an external ERC20 wallet. How can I convert to WORK?

What happens to my projects funded with LATX at Latium.org?

What happens to my LATX wallet balance at Latium.org?

What happens to my open trade orders on the Latium Exchange?

What happens to my LATX CoinCards?

What happens to my Deposit Rewards in lockup?

How long do I have to convert my LATX or LAT to WORK?

Why does the LATX token need to transition to WORK?

What is Defi?

Coindesk outlines many aspects well in the following article: https://www.coindesk.com/what-is-defi

Where can I see the smart contract for the WORK token?

How can I contact you with more questions?

Your all inclusive platform for all things #crypto. Latium includes a growing feature set including a Tasking Platform, #ProofofHuman & an Internal Exchange.