Introduction

Luxor Money's Documentation

What's Luxor?

Luxor is the first decentralized reserve currency protocol available on the Fantom Opera Network based on the LUX token. Each LUX token is backed by a basket of assets (e.g., SOR, LUX-SOR LP Tokens, etc.) in the Luxor treasury, giving it an intrinsic value that it cannot fall below. Luxor also introduces economic and game-theoretic dynamics into the market through staking and minting.

What's the point?

Our goal is to build a policy-controlled currency system, native on the FTM network. In the long term, we believe this system can be used to optimize for stability and consistency so that LUX can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation.

We intend to achieve price flatness for a representative basket of goods without the use of fiat currency, in order to allow the cryptocurrency industry to detach once and for all from the traditional finance world.

How do I participate?

There are two main strategies for market participants: staking and minting. Users may stake their LUX in return for more LUX, while minters provide LPs**, FTM,** or SOR for discounted LUX after a fixed vesting period.

How can I benefit?

The main benefit for stakers comes from supply growth. The protocol mints new LUX tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.

The main benefit for minters comes from price consistency. Minters commit a capital upfront and are promised a fixed return at a set point in time; that return is given in LUX tokens and thus the minter's profit would depend on LUX price when the minted LUX matures. Taking this into consideration, minters benefit from a rising or static price for the LUX token!

Who's behind Luxor?

Luxor was created by SoulSwap **** cofounder Buns. She **** is a trained professional with a Master's Degree in Applied Economics and industry experience, serving as President of QUANTS at the world's largest AC manufacturer for 2 years prior to going full-time crypto as a developer in 2020. Prior to founding Luxor, Buns served as the Lead Solidity Developer for 4 cryptocurrency projects. Read more about Buns in her recent interview with IdeaMensch: https://ideamensch.com/buns-enchantress Currently, majority of the decisions are taken by the core team, however we expect to eventually convert into a DAO-governed model, once the opportunity presents itself. The Luxor protocol is also a part of the Soul Ecosystem, which provides us with a unique synergy between an exchange and reserve currency.