# 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.\
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**Read more about Buns in her recent interview with IdeaMensch**: [https://ideamensch.com/buns-enchantress](https://ideamensch.com/buns-enchantress/)\
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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.