Unveiling LUKSO (LYXe): An Overwiev of the Project
LUKSO (LYXe) is the native token of the LUKSO platform, designed to cater to the needs of a dynamic and ever-changing creative economy. Originally introduced on the Ethereum blockchain, it has since transitioned to its own independent mainnet. Currently, LUKSO holds the 149th position in the cryptocurrency market cap rankings.
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Project's Mission
LUKSO is an initiative that promises to transform the way fashion, design, and media industries interact with blockchain technology. It's a public, programmable blockchain built upon the Ethereum Virtual Machine. While its testnet functioned using the Proof-of-Authority algorithm, the mainnet operates on the Proof-of-Stake principle.
LUKSO: A Blockchain Tailored for the Modern Creative Economy Source: https://twitter.com/lukso_io
LUKSO is the brainchild of Marjorie Hernandez and Fabian Vogelsteller. Marjorie is an entrepreneurial force who has honed her skills in architecture, strategic innovation consulting, and brand evolution. She is the founding head of the EY innovation lab, an institution focused on crafting Ethereum-based business solutions. Fabian Vogelsteller, a former web developer and advocate for open-source, joined Ethereum in 2015. His contributions include the development of pivotal products like the Ethereum Wallet, the ECC-20 standard, the Mist Browser, and web3.js.
A big reason why we are creating LUKSO is to open the blockchain to everyone
says Marjorie Hernandez
LUKSO network is regulated by its users. Members from the creative industry have total control over the data structure and act as the financial controllers of the ecosystem, establishing applications and executing transactions. This ensures that each member can take advantage of network growth, attract new participants, and develop new solutions.
LUKSO also acts as an advisor for leaders in the fashion and technology industries, including Berndt Hauptkorn (CEO of UNIQLO Europe), Rajeev Aikkara (VP of Digital Technology at Burberry), Daniel Heaf (VP of Nike Direct), among others.
Getting to Know the LUKSO (LYXe) Token
Purpose
LUKSO (LYXe) is the native token of the project, originally launched on the Ethereum blockchain before the inception of the main network. Following the launch of the mainnet, users could convert their initial coins into full-fledged LYX tokens. These LYX tokens can be used to pay transaction fees, secure the network's infrastructure, and perform staking.
Issuance, Distribution
Preliminary Token Distribution Plan Source: https://medium.com/lukso
The projected issuance stands at 100,000,000 LUKSO (LYXe) tokens. The founders highlight that the distribution plan outlined can be subject to changes, and some tokens may never be issued or integrated into the network.
Around 15% of the final issuance volume of LUKSO (LYXe) has been issued so far. The public sale was organized in a reversible initial coin offering (rICO) format, raising nearly 10,000 ETH.
The preliminary LUKSO (LYXe) distribution is as follows:
- 40% – Ecosystem development;
- 10% – Private sale;
- 10% – First round public sale;
- 10% – Second round public sale;
- 9% – Reserve pool;
- 5% – Founders and team;
- 5% – Grant program;
- 5% – DAO;
- 5% – Future development;
- 1% – KuCoin IEO.
Current Market Status
As per data from gagarin.news, LUKSO (LYXe) is currently ranked 149th in the list of cryptocurrencies at the time of writing this piece. The token's trading price stands at $9.49. The market capitalization of the asset is around $176,515,710 with a circulating supply of 18,600,000 tokens and a daily trading volume of $440,822.
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