IDO Follow Up LUXY
With the LUXY IDO having been completed just under a month ago, the team would like to highlight their recent accomplishments as well as feature what the LUXY team has planned in the short time frame ahead.
The LUXY token launched at a price of $0.10 and nearly tripled in price to $0.27 before settling at its current price of $0.17, locking in solid profits for KSM Starter’s community.
In terms of project fundamentals, LUXY’s most impressive accomplishment is the timely launch of farming pools. Details of which are listed below:
LUXY Farming Pools
Total Incentives: 20mil LUXY
20% of the LUXY token supply is allocated to provide liquidity and rewards to the LUXY token, which will be used for the initial liquidity provided to their USDC/LUXY pool on Sushi and liquidity mining incentives.
An initial liquidity pool will be set up with 12.5% of incentives on SushiSwap with 2mil LUXY + $200,000 USDC to launch token at $0.10
Total Rewards: 10mil LUXY
The initial liquidity mining program will start with a duration of 1 year in order to attract liquidity to the LUXY protocol. 10mil of the tokens allocation will be distributed between 4 farms with a duration of 3 months, for users who lock LUXY-USDC LP tokens in the contract.
LUXY Token Farming Pools
APR will be dependent on the amount locked into LP Farms. For example, if they were to get 5% of the total LUXY supply in LPS farming, they get the following APRs.
What Comes Next
In the immediate future, LUXY token holders can look forward to the NFT platform launch on Polygon with an imminent date announcement and can also anticipate expansion to the Syscoin blockchain, the launch of their Genesis NFT collection, and most innovatively the creation of the Collection Launchpad.
Specifics on each of these pieces will be rolled out in the coming weeks; for now, their team advises that community members keep an eye to their official social channels.
LUXY is becoming the go-to NFT platform, established in March of 2021, and has evolved into a team of 18. Starting with a next-gen Marketplace that is designed to offer a new and much improved NFT experience. It is built to be multichain, starting with the Polygon blockchain allowing it to be fast, scalable, green, low cost, and user-friendly. Decentralization is the core of crypto, so at every step, our marketplace is built around that core concept.
LUXY will offer your standard marketplace features plus additional features curated over months of research. These will include support for: GameFi and 3D models, Collection Launchpad, User-owned Collections, Multiple Royalty Addresses for group projects, direct royalties, all file types, White Label Solutions, UI/UX for ease of use.
Connect with LUXY
Send your project here: https://luxy.io/
About KSM Starter
KSM Starter, the primary launchpad on Kusama, is built to provide early-stage support and public funding for projects building on Substrate. KSM Starter’s incubator modeled launchpad is driven by the community and shared values of fairness, transparency, and decentralized organization. Unique to the KST ecosystem, community members are incentivized to participate in the pre IDO selection process through higher allocation rewards. Also unique to KSM Starter, collaboration is fostered among launched projects by incentivizing community members to support previous launches by awarding them with improved lottery odds. This along with the KST Ecosystem Council generates a synergistic network effect that empowers all projects to succeed and leave a lasting impact on Kusama.