LUKSO (LYX): how it works, supply and reviews
In short
- Type
- Layer 1, EVM-compatible blockchain built on the Ethereum stack
- Initial distribution
- Genesis validators voted for an initial supply of 42 million LYX (84.2% of votes)
- Risks and caveats
- In May 2026 LUKSO announced that core teams are leaving to other projects, the office is closing and the foundation team is downsizing.
- Checked
- 31 October 2026
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Key facts
- Ticker
- LYX
- Official site
- lukso.network
Key facts checked on 31 October 2026 against official sources.
What is LUKSO
LUKSO is a proof-of-stake Layer 1 blockchain that runs an unmodified Ethereum protocol stack, aimed at social, cultural and creator use cases. Its LSP standards and Universal Profiles (smart-contract accounts) are the main features; LYX is the native coin.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Layer 1, EVM-compatible blockchain built on the Ethereum stack |
| Consensus | Proof of stake with Casper FFG finality and LMD-GHOST fork choice, as on Ethereum |
| Launched | Mainnet started on 23 May 2023 with about 185 nodes, none run by LUKSO itself |
| Chain ID | 42 (currency symbol LYX) |
| Smart contracts | EVM smart contracts plus LUKSO Standard Proposals (LSPs) such as Universal Profiles |
| Validators | Over 179,432 active validators securing more than 5.9 million LYX (May 2026 post) |
Supply and issuance
| Parameter | Details |
|---|---|
| Initial distribution | Genesis validators voted for an initial supply of 42 million LYX (84.2% of votes) |
| Staking rewards | Validators earn rewards in proportion to staked LYX; effective balance up to 2,048 LYX after Pectra |
| Fee burn | EIP-1559 base fee is burned |
| Foundation treasury | FNCE Foundation treasury of about 1.7 million LYX (May 2026) |
What LYX is used for
- LYX is the native coin of the LUKSO blockchain, used like ETH on Ethereum (gas fees).
- Validators stake 32 LYX per validator key to secure the network.
- LYXe on Ethereum was the pre-mainnet representation of LYX and could be migrated to LYX.
Who develops and governs LUKSO
- Founders
- Fabian Vogelsteller is named as LUKSO founder
- Company
- Docs are published by LUKSO Blockchain GmbH
- Foundation
- Foundation for the New Creative Economies (FNCE) runs the LUKSO Grants Program
- Team changes
- May 2026: core teams are decentralising and the FNCE Foundation team is downsizing
- Open source
- Code published on GitHub (lukso-network)
History
| Date | Event |
|---|---|
| 2020 | Public sale as a reversible ICO (rICO) on Ethereum; buyers received LYXe tokens. |
| 3 May 2023 | LUKSO Testnet launches. |
| 23 May 2023 | LUKSO Mainnet launches from genesis-validator deposits made on Ethereum. |
| 30 June 2023 | The Shapella update enables validator withdrawals, five weeks after launch. |
| 29 May 2026 | "A New Chapter for LUKSO": core teams decentralise, the LUKSO office closes, the LYXe migration ends and the foundation downsizes. |
Security and audits
- LUKSO runs an unmodified Ethereum PoS stack and supports several consensus and execution clients for client diversity.
- Validators that double-propose or make surround votes are slashed; offline validators lose stake through inactivity penalties.
Security incidents
No security incident is recorded in the sources checked on 31 October 2026 (the company’s own channels and incident databases): defillama.com/hacks, hacked.slowmist.io/search, rekt.news/leaderboard, medium.com/feed/lukso, docs.lukso.tech/faq/lukso/project-timeline
Official LYX contracts
| Network | Contract address |
|---|---|
| Ethereum (LYXe, legacy) | 0xA8b919680258d369114910511cc87595aec0be6D |
LYX is native to the LUKSO chain. LYXe is the legacy ERC-777 token on Ethereum; LUKSO said in May 2026 that the LYXe migration has ended.
Risks and caveats
- In May 2026 LUKSO announced that core teams are leaving to other projects, the office is closing and the foundation team is downsizing.
- The LYXe-to-LYX migration has ended, according to the May 2026 post; holders who did not migrate should check official channels.
- Validators can lose part of their stake through slashing or inactivity penalties.
Official links
- Website: lukso.network
- Docs: docs.lukso.tech
- Source code: github.com/lukso-network
- Block explorer: explorer.lukso.network
- Blog: medium.com/lukso
Questions and answers
What is LUKSO?
A proof-of-stake Layer 1 blockchain that runs an unmodified Ethereum stack, focused on social and creator use cases through Universal Profiles and LSP standards.
When did LUKSO mainnet launch?
On 23 May 2023, after a testnet launch on 3 May 2023.
What is the difference between LYX and LYXe?
LYX is the native coin of the LUKSO chain. LYXe was the ERC-777 token on Ethereum from the 2020 sale; LUKSO said in May 2026 that the migration has ended.
What was the initial supply of LYX?
Genesis validators voted for 42 million LYX, chosen by 84.2% of votes.
Who founded LUKSO?
The docs name Fabian Vogelsteller as LUKSO founder; the docs are published by LUKSO Blockchain GmbH.
Sources
- LUKSO — home page
- LUKSO Docs — FAQ: general information
- LUKSO Docs — FAQ: project origins
- LUKSO Docs — FAQ: project timeline
- LUKSO Docs — FAQ: blockchain architecture
- LUKSO Docs — FAQ: staking
- LUKSO Docs — mainnet parameters
- LUKSO on Medium — A New Chapter for LUKSO (29 May 2026)
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