# Introduction

## What's Luxor?

[**Luxor**](https://soul.sh/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? <a href="#how-do-i-participate-in-olympus" id="how-do-i-participate-in-olympus"></a>

There are two main strategies for market participants: [**staking**](https://app.luxor.money/stake) and minting. Users may stake their **LUX** in return for more **LUX**, while minters provide **LP**s\*\*, FTM,\*\* or **SOR** for discounted **LUX** after a fixed vesting period.

## How can I benefit? <a href="#how-can-i-benefit-from-olympus" id="how-can-i-benefit-from-olympus"></a>

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? <a href="#who-created-olympus" id="who-created-olympus"></a>

**Luxor** was created by [**SoulSwap**](https://exchange.soulswap.finance) \*\*\*\* 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](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.


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://luxor.soulswap.finance/readme.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.