KSM Starter IDO Spotlight: LUXY
They keep coming, so we’ll keep announcing them! KSM Starter is thrilled to share a glimpse into its third IDO event, LUXY — an upcoming state of the art NFT marketplace to premier on Polygon. It exists to cater the need for accessible, scalable, easy to use, and inexpensive NFTs.
Luxy Overview
Boasting blue chip partners such as Polygon, Syscoin, and BlockDesk, the LUXY token will be the backbone of an NFT marketplace soon to launch on Polygon.
The token will bring advanced perks and benefits such as early access to NFT drops, reduced marketplace fees, DeFi Staking incentives, NFT voting, ad space, platform governance, and access to whitelabel solutions.
Through generous incentives such as reducing buying and selling fees from 2% to 0.25%, the platform makes LUXY token the core of its ecosystem and encourages token price stability, and the price’s natural growth alongside the platform’s adoption.
Below are specifics of the Luxy Tier System:
Deflationary Token Model
In perhaps unparalleled token design, Luxy takes deflationary tokenomics to the next level; a full 50% of all UXY tokens will be burned until 50mil LUXY Tokens of the 100 total are removed from circulation.
The burning will happen via two avenues:
- 100% of all fees earned via the marketplace in LUXY token will be sent to the burn address 0x000000000000000000000000000000000000dEaD. So this means that any services, buy/sells that are paid with LUXY Token, the fees generated from this will be burnt.
- 25% of all fees collected via all other payment forms, will be used to buy back LUXY from the market and sent to the burn address 0x000000000000000000000000000000000000dEaD.
Updated information regarding token burning will be displayed on a page containing:
- Amount of collected fees
- Equivalent amount in LUXY tokens
- Date of next burn
Taken together, Luxy’s necessary role within Polygon’s NFT ecosystem, combined with integrated token utility and deflationary tokenomics makes Luxy an all around powerhouse; one KSM Starter is thrilled to offer to its community.
About LUXY
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/
Twitter: https://twitter.com/Luxy_io
Telegram: https://t.me/luxyio
Instagram: https://www.instagram.com/luxy_nft/
Medium: https://medium.com/@luxy-io
Discord: https://discord.gg/UqRPfhsBKF
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.
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