[Crypto projects](https://revain.org/projects/) › LUKSO

# 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

## Key facts

- **Ticker**: LYX
- **Official site**: [lukso.network](https://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](https://defillama.com/hacks), [hacked.slowmist.io/search](https://hacked.slowmist.io/search/), [rekt.news/leaderboard](https://rekt.news/leaderboard/), [medium.com/feed/lukso](https://medium.com/feed/lukso), [docs.lukso.tech/faq/lukso/project-timeline](https://docs.lukso.tech/faq/lukso/project-timeline/)

## Official LYX contracts

| Network | Contract address |
|---|---|
| Ethereum (LYXe, legacy) | [0xA8b919680258d369114910511cc87595aec0be6D](https://etherscan.io/token/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](https://lukso.network/)
- Docs: [docs.lukso.tech](https://docs.lukso.tech/)
- Source code: [github.com/lukso-network](https://github.com/lukso-network)
- Block explorer: [explorer.lukso.network](https://explorer.lukso.network)
- Blog: [medium.com/lukso](https://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](https://lukso.network/)
- [LUKSO Docs — FAQ: general information](https://docs.lukso.tech/faq/lukso/general-information/)
- [LUKSO Docs — FAQ: project origins](https://docs.lukso.tech/faq/lukso/project-origins/)
- [LUKSO Docs — FAQ: project timeline](https://docs.lukso.tech/faq/lukso/project-timeline/)
- [LUKSO Docs — FAQ: blockchain architecture](https://docs.lukso.tech/faq/network/blockchain-architecture/)
- [LUKSO Docs — FAQ: staking](https://docs.lukso.tech/faq/network/staking/)
- [LUKSO Docs — mainnet parameters](https://docs.lukso.tech/networks/mainnet/parameters/)
- [LUKSO on Medium — A New Chapter for LUKSO (29 May 2026)](https://medium.com/lukso/a-new-chapter-for-lukso-159af4569ad2)

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Page updated: 2026-11-01

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Source: https://revain.org/projects/lukso/