Fabian Vogelsteller is a long term open source developer, author and developer of many open source projects including Ethereum’s Mist browser and the Ethereum Wallet. Fabian was part of the Ethereum Foundation from 2015 to 2018, he built some of the most important tools that contributed to the success of this decentralized ecosystem, including the Mist Browser and web3.js.
In 2015, Fabian proposed the ERC-20 Token standard that inaugurated the Token economy as we know it today which brings us business opportunities, such as ICO.
ICO, Initial Coin Offering, a form of tokens sales on the blockchain, allows a new developers team to tap into a wide pool of potential investors to provide itself with capital for future growth, repayment of debt, or working capital.So Fabian Vogelsteller is known as Godfather of ICO.
ICO is an excellent invention with lots of ideas, those ideas push Fabian Vogelsteller to create a better blueprint. Those ideas excite him to think about what's coming in the future.So he plans to lead the technological development at LUKSO.Then LUKSO came out.
“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.
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.
LUKSO is an Ethereum sister network.
It is about the uniqueness of a fashion item and is based on the Ethereum Virtual Machine (EVM).Blockchain is often associated with male-dominated tech firms and may seem irrelevant when it comes to the fashion and luxury industries. Marjorie Hernandez de Vogelsteller believes blockchain has so much potential when it comes to the future of fashion. What will LUKSO do is running digital applications focused on fashion, art, music and other creative fields. It will bring blockchain technology to the masses. Everyone is looking forward to seeing how LUKSO opens a brand new door for pooling ideas.
LUKSO is based on RICO(Reversible ICO) fundraising model.
The biggest problems of current ICOs is the trust between the project team and the initial coin buyers.It means if a coin buyer applied for the token, and the project team might made off with money. But, RICO, which is done by controlling the flow of funds to the project can fix this problem. A coin buyer controls at all times the not-yet-given funds and can stop the flow to the project at any time.RICO is implemented on the smart contract which cannot be modified. It’s regarded as an advancement to ICO structure with a more secure system. Recently, RICO has been approved by German regulators, allowing investors to reserve tokens in the first phase of the offering and purchase them during the second phase.
The LUKSO blockchain secures itself through the costs to participate in the network. It uses LYX/LYXe as its native cryptocurrency. Imagine Kim Kardashian issuing branded tokens to her millions of fans which could be traded for real Yeezys or digital Chanel bags or converted into LYX/LYXe in a future economy that isn’t ruled by central banks or nation-states. LUKSO is a tool to equalize power between people globally, a tool with which can build systems to inspire mass participation and mass stakeholdership, which is completely fluid and in real-time. It's where the value of the digital lifestyle can be made visible.
LUKSO will have its token sale project in Spotlight of KuCoin. The sale amount only accounts for 1% of the issuance.Without any initial circulation of its tokens on the market, participants don’t need to worry that the price of the token(LYX/LYXe) will be smashed by some early speculators using the tokens of lower price.Therefore, the token price of LYX/LYXe that you can from KuCoin’s Spotlight is likely to be the best one than from anywhere else.
Maybe you would ask why LUKSO chose KuCoin to participant the Spotlight to issue their tokens?
The LUKSO team has been very selective. They met with many exchanges and have been in contact with the KuCoin team for several months now. It turned out that KuCoin’s values resonate with LUKSO. 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. KuCoin wiil be in favor of promoting LUKSO.
The two great teams have cooperated already. Let’s just looking forward to the Spotlight and
the new model for blockchain space.
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:
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