What Is Locked.Money?
Locked.Money is a trustless digital asset management solution that offers users the best of both worlds: the security of a noncustodial solution and the benefits of traditional finance. Powered by its native LMY Token, this disruptive blockchain-based platform addresses the challenges faced by centralized custodial solutions, such as hacks, scams, and a lack of regulatory clarity, by giving users full control of their assets.
As the decentralized finance (DeFi) sector continues to grow with ~$100 billion of total value locked (TVL) in its various protocols, there is a rising need for improved crypto custody and asset management for users. Locked.Money combines the security of cold storage with the benefits of traditional finance to provide a secure, tax-efficient, and user-friendly service that makes it simple for users to maximize the potential of their digital wealth.
Its trustless vaults offer a secure and tax-efficient way for users to manage their digital assets without intermediaries or middlemen. By operating in a zero-tax jurisdiction and utilizing trustless vaults that are not subject to capital gains taxes, users can avoid personally realizing gains when trading through Locked.Money vaults. They can also benefit from tax deductions depending on their individual circumstances.
Locked.Money provides a robust legal structure that offers protection against lawsuits, making it an ideal solution for high-risk professionals. Its multi-signature solution allows users to create and customize their own vaults with varying levels of access and control for themselves and trusted third parties. Its two-tier subscription model offers a range of options, from a free plan with multi-sig trustless vaults and high security to professional plans with additional features like debit cards for daily spending, tax optimization strategies, and bespoke solutions for high-net-worth individuals.
Locked.Money is powered by the LMY Token, which facilitates staking and other utility functions on the platform. Users can unlock benefits and rewards by staking LMY Tokens, including sharing 10% of the revenues generated from subscriptions. Audited by security audit firm Peckshield and run by a leadership team that comprises experts in traditional finance, digital assets, computer engineering, and compliance, Locked.Money is currently in Beta and is gearing up for mainnet launch in the coming weeks.
Key Traits of Locked.Money
- Security – Locked.Money uses multi-signature features to ensure the highest level of security for digital assets. Users can create and customize their own multi-signature vaults with different levels of access and control for themselves and their trusted parties.
- Trustlessness – Vaults do not have administrative control over the assets, ensuring that users do not have to trust a third party. Users have exclusive control over their assets and can authorize and conduct transactions without having to rely on anyone.
- Tax Optimization – By simplifying the complex world of taxes and managing tax calculations and compliance, Locked.Money alleviates the headaches felt by thousands of investors and maximizes their digital wealth.
- Legal Backing – Locked.Money's legal structure enables users to personally avoid realizing gains when trading is conducted through trustless vaults.
- Seamless Compatibility – Locked.Money is compatible with a broad range of web3 tools, including wallets like MetaMask, Rabby, Ledger, and Trezor, as well as mobile accessibility.
Locked.Money Platform Features
Locked.Money's financial planning focuses on the projected growth and profitability of the platform by emphasizing premium and professional features. Users will spend between $100 and $1200 annually to access these services and benefit from sophisticated asset management strategies previously reserved for the ultra-wealthy.
Free subscriptions include secure trustless multi-sig vaults with swap, bridge, and store functionality, and premium and professional subscriptions include additional features such as debit cards for easy on and off-ramping of fiat, advanced data and statistics, legal backing, and a dedicated professional asset manager.
The LMY Token
Users can earn revenue by staking the LMY Token. Every time a user purchases a subscription plan, 10% of the revenue is diverted to a community pool where stakeholders can claim monthly rewards based on their allocation stake. The LMY Token also serves as a utility token in the platform, enabling users to access premium features.
Wrapping Up
Locked.Money is a trustless digital asset management platform that gives users full control over their assets while offering sophisticated legal frameworks, tax benefits, and digital asset protection. Its disruptive platform addresses the challenges of the DeFi sector and the problems inherent in centralized custodial solutions by providing a secure, tax-efficient, noncustodial solution that meets the rising needs of crypto investors.
