Today's "free coin" is Lexit (LXT). Lexit describes their mission and the value they will provide the market as "Disrupting the way in which companies and their IP are being bought, sold, and licensed." Specifically, "LEXIT allows entrepreneurs to trade intellectual property, copyrights and technology from discontinued projects, and even sell whole startups."
The amount of coins available and the number each person will get is not clearly defined, but the process was very easy and I love this unique approach, so I thought LXT was a worthy addition to FCOTD.
The Coin
I like to evaluate the actual use of the coin and if it's needed, or even useful in some cases, before spending a few minutes of my time entering an airdrop. If a company has no use for a coin, they shouldn't be using one.
The above description of the LXT token goes completely over my head, and I am from the startup space. This doesn't tell me who gets tokens for what or how each party is incentivized to use this platform through the coin. I understand the value they are providing, but I don't understand what the LXT token will be used for and why it's necessary.
Potential
I really like this idea and am excited to see how it plays out, but I'm torn on the overall potential of this project for three reasons:
The number of these transactions that will occur in this platform. Mergers and acquisitions do happen, but they are rare events.
Convincing companies who are currently active in acquiring businesses or selling their own will be difficult. They will likely be very hesitant to go this route, even if it makes the process easier. They are comfortable with the way things have been done and need to see a history of results and large incentives in order to consider doing business a different way.
The rise of cryptocurrency and blockchain based "businesses" will result in a future with fewer mergers and acquisitions possible.
However, being the first and only platform to perform a valuable function has value. As Bitcoin Exchange Guide explains, "Lexit is a wholly original solution in the ICO ecosystem, and, on launch, will be the only blockchain based acquisitions platform in existence."
Airdrop Requirements
To enter the airdrop, visit the Lexit airdrop sign-up page (https://www.lexit.co/airdrop), enter your ERC20 compatible account address (only use your public key, I use MyEtherWallet) so you can receive your coins after the airdrop is over, fill out basic information and then take two of the listed actions in order to qualify. This is one of the easier airdrops I've joined, which means more people will join (resulting in fewer coins), but it will take less of your time than others.
See the video below for a walkthrough.
Walkthrough
Links
As with all projects, cryptos, and ICOs, make sure you are using the right links and not visiting spam domains created as a scam. Airdrops and bounties give free coins in exchange for trying out a new platform, signing up for a newsletter, etc. These are different from ICOs where you are paying money (sending cryptocurrency) in exchange for coins once their sale is complete. For an airdrop, you should ONLY provide your public key and not send any coins to anyone. Here are the links for this project and airdrop:
Homepage: https://www.lexit.co/
Airdrop (not a referral link): https://www.lexit.co/airdrop (ends 2/28/18)
Whitepaper: https://www.lexit.co/resources/whitepaper
Lexit Promo Video:
What Is Free Coin of the Day?
Free Coin of the Day (FCOTD) is a new effort I'm launching to help other amateur cryptocurrency enthusiasts like myself get involved in cryptos without having to spend thousands of dollars. Each day we'll pick one coin to cover, and I'll give you specifics on how to earn that coin for free. Please upvote this post and follow me if you're interested in joining this new effort.
Get More Free Coins
This is the eighth #FCOTD post. I released a little early since tomorrow is Valentine's Day and I want to spend time with the family instead of posting all day. Past free coins that you may or may not still be able to grab include:
Dock.io: https://steemit.com/airdrop/@michaelluchies/free-coin-of-the-day-2-12-18-dock-io-s-simple-bounty-program-how-to-enter
What is an Airdrop? Watch My Explanation Below
