5 Things You Must Know about LUKSO
Here are 5 things that you should to know about LUKSO:
1. World’s First Reversible ICO (rICO)
Reversible ICO (rICO) is a new form of ICO proposed by LUKSO founder Fabian Vogelsteller in 2018. In a rICO, investors reserve tokens, which then are automatically purchased over a period of time (8 months). During this time, the investor can choose whenever they want to return tokens still within their reserve time at any point and redeem the corresponding amount of ETH.
The Reversible ICO was checked with BaFin, the highest regulatory authority in Germany and is in accordance with german security law, bringing new on-chain investor protection to the controversial ICO mechanism. As the world’s first rICO project approved by a regulatory agency, LUKSO will open its rICO on May 27, one week after the Spotlight token sale. It is important to note that this doesn’t mean any sale using the rICO of LYX itself is endorsed by the BaFin. The new rICO has been checked and approved by the German Regulatory Authority Agency.
2. Same Godfather as ERC20 Protocol
Fabian, LUKSO’s founder, also authored the ERC-20 token standards, which opened up the ICO wave in 2017. In addition, Fabian is also responsible for some other renowned open-source projects, like Ethereum’s first decentralized web3 browser Mist, Ethereum wallet, and web3.js library, the most used developer tool in the Blockchain community.
Vogelsteller’s co-founder Marjorie Hernández is LUKSO’s CEO, architect, strategist and innovation consultant. She joined Ernst & Young in 2015 and established an innovation lab, before founding LUKSO project in 2018. Now serving as CEO, Marjorie is responsible for LUKSO’s concept, design, operations, and product development.
3. A Blockchain Platform Designed for a New Digital Lifestyle
LUKSO is a multiverse blockchain network where the worlds of fashion, gaming, design and social media intersect. LUKSO allows developers and creatives to dictate the distribution of wealth and influence from lifestyle activities, have Universal Public Profiles, create Digital Identities and Certificates, and build Tokenized Communities.
4. Virtual Reality Defined with the Blockchain
Blockchain technology can help create new virtual worlds. Especially when transitioning from physical items to virtual goods, cryptocurrencies and leverage their advantages. LUKSO maps physical commodities to virtual networks through “digital twin” technology and uses blockchain technology to ensure authenticity and uniqueness in virtual commodities. Plus, by configuring chips traceable on the network, the LUKSO blockchain allows physical commodities to be tracked, bringing a new virtual reality to the fashion and lifestyle industry.
5. Blockchain Based on Specific Contexts
The LUKSO founders envision a “internet of blockchains”. Multiple blockchains serving different purposes for different communities. LUKSO aims to establish itself as the de facto blockchain standard for the creative economies, allowing creators and developers alike to build and participate in the beginning of a New Digital Economy.
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