LUKSO: Asset Overview
Concept
Lukso is an upcoming blockchain that is aimed at the digital lifestyle industry. It provides a digital lifestyle ecosystem and aims to bring both digital and physical consumer goods to the blockchain. Lukso is guided by three main principles:
• Identification
Lukso allows anyone, such as brands, creators, and users, to create their own personal address on their network and use it as their permanent identifier in the digital world, allowing for secure public validation. These identities can also be applied to digital and physical items to give items their own identity.
• Virtualization
Lukso aims to remove the boundaries between physical and digital ownership. It allows digital items to have their own unique identity on the blockchain and also allows physical items to have a digital counterpart.
This allows real physical items to be represented on the blockchain, including their past and present ownership, value, and other history, blurring the lines between digital and physical ownership. Lukso calls this the ‘phygital’.
Furthermore, Lukso aims to allow anyone to carry their phygital and digital items across any digital context. For example, a skin bought on Fortnite is owned by the user and can also be used in a different game or digital context. A real physical clothing item could have its own unique counterpart in the game and change ownership as the actual clothing item changes hands.
Users can then carry their ownership between physical and virtual realities and preserve their value, uniqueness, history, and scarcity.
• Tokenization
Lukso allows anyone to create their own tokens on their blockchain. These tokens will act as the connective medium for its creator’s lifestyle communities, making them valuable, participative, and inclusive.
Tokens in these communities can be event tickets, access to special services, pure monetary value, or anything else the creator decides.
Around the ownership of these tokens, vibrant communities can form where real value can freely flow between all participants.
The founder of Lukso, Fabian Vogelsteller, believes that the problem with scalability in blockchain projects is solved by having dedicated blockchains for certain purposes, such as Lukso’s focus on digital lifestyle. He believes that scaling blockchain networks horizontally or vertically both present sacrifices that should not exist within blockchain projects, such as more centralized mining power due to larger blocks when scaling vertically. The solution? Deploy several blockchains for different purposes.
Team
The creator of Lukso is Fabian Vogelsteller. He has created the most used JavaScript library in the blockchain space called web3.s and proposed the ERC20 token standard that allowed other cryptocurrency projects running off the Ethereum network to offer their own tokens, which spawned the ICO wave and DeFi movement.
The co-founder is Marjorie Hernandez, who manages the brand. Marjorie worked in Art Direction across Europe, before establishing herself as a Brand Strategist for Swiss and German brands. She created and managed EY’s Digital Innovation Lab, as a Digital Transformation and Strategy Executive, where she worked closely on Ethereum and with the IOTA Foundation.
Financial Metrics
• Transaction speed
Initially 3-8 million transactions per day
• Supply mechanics
Total supply: 100,000,000 LYX
Supply at mainnet launch (TBD): 35,000,000 LYX
The rest will be kept or released in the future for:
- Reserve pool
- Future development
- Community DAO
- Ecosystem building
Tokenomics
• Distribution
• Purpose of Coin
- Used for gas fees
- Functions as a unit of account and a store of value
- Needed for the staking process (PoS) ensuring network safety
• Emission Schedule
• Are the tokens or coins a solution to an actual problem?
The LYX coins do not aim to solve a problem by themselves, but serve as the foundation for allowing the Lukso network to run securely and decentralized. The coins will be used to pay validators who stake their coins, to act as a store of value, and to valuate the worth of the Lukso network.
• When will the mainnet launch?
The Lukso mainnet was scheduled for launch during Q4 2021. However, it was delayed, and the team now expects the mainnet to launch sometime in 2022, yet a specific date is not given.