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LUKSO Token (LYXE) is the 75th largest cryptocurrency in the world by market cap, valued at $909,300,000. The current price of LUKSO Token is $9.093, which is -1.888% lower than yesterday. Prices have ranged between $9.48 and $9.05 over the past 24 hours. All prices are listed in US dollars and accurate as of January 30, 2023 07:01 UTC.
Founded by Ethereum developer Fabian Vogelsteller and innovation adviser Marjorie Hernandez, LUKSO is a public blockchain specifically aimed at fashion and lifestyle. According to the whitepaper, the blockchain is designed so that fashion, gaming, design and social media experts can participate in a system that dictates the effective distribution of wealth and influence.
Scheduled for launch in Q4 2021, LUKSO aims to become a “big app store” that will provide those within the fashion and lifestyle industries access to the advantages of decentralized blockchain technology. The blockchain works on a Delegated Proof-of-Stake (DPoS) consensus mechanism and utilises the Ethereum Virtual Machine so that it can integrate Ethereum smart contracts. The platform offers users the ability to create universal public profiles and digital identities as well as build tokenised communities. LUKSO launched the pre-launch LYXe token via a Reversible initial coin offering (ICO) last year. Situated on the Ethereum blockchain, LYXe represents the future LYX token that will secure and validate the LUKSO blockchain. The pre-launch Reversible ICO, which began in March 2020, allowed users to reserve a set number of LYXe tokens and then purchase them slowly over a period of 8 months. Any non-purchased LYXe tokens were then returned to the supply.
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