What is LUKSO?

The LUKSO token, or LYXe, is a utility token native to the LUKSO Network. There are 2 native tokens powering the LUKSO network - LYX and LYXe.

LYX is the utility token whose core purpose is to secure the network. It’s paid out as an incentive to validators for staking their tokens. Whereas LYXe is the Ethereum version of the LYX utility token. 

LYXe tokens were sold to investors during the reversible Initial Coin Offering (rICO) - a type of ICO that allows investors to reserve tokens and buy them in a specified period of time. In the case of LUKSO, it was 8 months.

When the LUKSO mainnet is launched, LYXe tokens will be swapped for LYX.

To put it simply, the only difference between LYX and LYXe is the underlying blockchain they’re deployed on.

There is a total supply of 100,000,000 LYXe tokens. They have been allocated as follows:

• 40% - Ecosystem;
• 10% - Private Sale;
• 10% - 1st Public Sale;
• 10% - 2nd Public Sale;
• 9% - Reserve Pool;
• 5% - The Founding Team;
• 5% - Future Development;
• 5% - Community DAO;
• 5% - Grant Program;
• 1% - IEO.

You can have a more in-depth look at the LYXe price history, or the current LUKSO price, on the graph above.

What are the Main Features of LUKSO?

LUKSO is a sustainable EVM-compatible blockchain running on a Casper Proof-of-Stake (PoS) consensus mechanism.

As discussed in the What is LUKSO section, LYXe plays an important role in securing the LUKSO network. This is because it operates using a PoS consensus mechanism. The LYX token is necessary for incentivizing validators who secure the network through staking.

Who Developed LUKSO?

The LUKSO crypto project was launched in 2018. It’s a Berlin-based company founded by Fabian Vogelsteller - a blockchain developer and a veteran in the crypto industry. One of his first blockchain projects was Ethereum where he played an important role in the development of the ERC-20 token standard.