The Godfather of Ethereum ICOs Chooses KuCoin Spotlight To Begin The First Token Sale of His New Project LUKSO(LYXe)
Who is Fabian Vogelsteller？
Fabian Vogelsteller, the Godfather of Ethereum ICOs, is a developer and thought leader on blockchain technology. Officially started working at the Ethereum Foundation in 2015, he has built many Ethereum user and developer-facing projects including the Ethereum Mist browser, the Ethereum Wallet and web3.js - the Ethereum’s space most used JavaScript library.
Together with Vitalik Buterin, in 2015 he proposed the ERC20 token standard, which initiated the world ICO wave and redefined investment and crowd ownership as we know it.
What is LUKSO？
“Everybody is talking about bringing Blockchain to the masses, but nobody is building use cases for them. The LUKSO blockchain will be the space to create synergies and standards that will power the future mainstream blockchain applications." The specific idea developed from an exchange that Fabian’s wife and co-founder Marjorie Hernandez de Vogelsteller in 2017.
Marjorie Hernández, a Caracas-born architect, strategist and innovation consultant, who in 2015 built and led the EY’s Innovation Lab in Berlin, before founding LUKSO. In Marjorie’s work during the last few years, where she developed several blockchain use cases, she realized that here lies a great potential for the design and fashion industry. So the idea of using blockchain-technology in the fashion-industry has arised.
The focus of LUKSO is on facilitating blockchain use-cases, particularly in areas like digital lifestyle. For example, a specific chip is used to verify the authenticity and origin of products by assigning them a unique ID based on blockchain technology.
The Advantages of LUKSO？
1. Ecosysterm Building in Business
The LUKSO ecosystem is targeting a new wave of Blockchain applications and encourages developers to create a future of decentralized communities, brands and a new digital world. Currently，the LUKSO project is one of the most successful applications in the fields of anti-counterfeiting and traceability of luxury goods. There are many partners in the fashion industry announced in LUKSO official website, including Nike、Channel、Burberry、Highsnobiety、Helsinki Fashion Week、Instagram and so on. LUKSO will join more application ecosystems, which is likely to become the third most successful network in the business ecosystem after the BTC and ETH networks.
2. Reversible ICO (rICO)
Among the proportion of LUKSO tokens released early in the Allocation structure, rICO accounted up to 20%, and it was also the main fund-raising means in the early stage of LUKSO.
What is rICO?
In simplest terms: In a Reversible ICO buyers reserve tokens and then buy those reserved tokens over a period of time (e.g. 8 months) automatically. During this time buyers have the option to return still reserved tokens at any time and receive their associated ETH back.
The problems of ICO？
FOMO choices, and lock-ins
No investor protection
Little responsibility for the project
No investor involvement
After or during the ICO period, which lasts between some days to multiple months, funds were immediately passed to the project. This in combination with the extreme traction ICO projects got in the last years has lead to founders receiving more funds than expected, shifting the interest from finalizing the project to personal wealth and enrichment. It also lead to outright scams, where projects promised a project outcome and disappeared with the collected funds after the ICO.
What is the advantage of rICO？
The RICO system addresses the problems of ICO by holding founding teams accountable to deliver on their promise, by committing money rather than transferring it directly to the project. It is worth mentioning that the LUKSO project wrote this rule into their smart contract, thereby achieving automatic and decentralized, maintaining the fairness of rICO.
In general，rICO improves the power balance between coin buyer and project by flowing funds slowly to the project and allowing coin buyers to withdraw their funds at any point in time. This power is what makes a RICO so trustworthy and will likely usher in a new era of fairer ICOs.
3. rICO has been approved by German regulators
German regulatory authority BaFin has for some time been at the forefront of tokenized asset sales, beating US regulators to the punch when they approved the county’s first security token offering (STO) in January 2019.
Such developments will only grow in importance as regulators and legacy institutions grapple with how to integrate cryptocurrencies and blockchain into the broader economy.
Why did LUKSO choose KuCoin?
Who is KuCoin?
The KuCoin Exchange opened for cryptocurrency trading in September 2017. The KuCoin Exchange places an emphasis on the quality of the projects listed based on a research department that scours the blockchain industry for quality projects. KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently. In November 2018, KuCoin officially partnered with IDG Capital and Matrix Partners.
------The Introduction in CMC
The LUKSO team has been very selective. In one AMA, Fabian said that they have met with many exchanges and have been in contact with the KuCoin team for several months.
The main reasons might as follows:
1、It turned out that KuCoin’s values resonate with LUKSO. The founders of LUKSO and KuCoin are both Blockchain Architectures who would like to pay more attention to technical innovation and attach importance to technology development.
2、The globalization process of KuCoin is very successful. KuCoin has grown into one of the most popular crypto exchanges. It has more than 5 million users on its platform and covers over 205 countries and areas. It is renowned with an excellent international layout.
3、The investment of IDG Capital and Matrix Partners. KuCoin always places an emphasis on the quality of the projects listed.
Wanna know more about the LUKSO’s token sale Spotlight program at KuCoin? Join in our discussion group on Telegram now:https://t.me/LUKSOKuCoin (LUKSO x KuCoin Spotlight Discussion Group)
LUKSO Official Website:
Trade on KuCoin Exchange：
https://www.kucoin.com/ucenter/signup?utm_source=Mo6Le8