KuCoin Announces LUKSO's Mini-Pre-Sale on Its Spotlight Platform

Exclusive, Pre-Sale Begins May 20 with The World's First "Reversible Initial Coin Offering" to Follow on May 27

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May 12, 2020, 06:25 ET

SINGAPORE, May 12, 2020 /PRNewswire/ -- KuCoin, an IDG-backed exchange, today announces that LUKSO will be its first Spotlight project this year. LUKSO is a Blockchain network dedicated to the new digital lifestyle, where the worlds of fashion, gaming, design and social media intersect. The project will make an exclusive pre-sale on the KuCoin Spotlight program on May 20, shortly before the first Reversible ICO takes place on May 27.

LUKSO is founded by Industry veteran Fabian Vogelsteller, who laid the foundation for today's DeFi protocols. His tools like web3.js are used by the majority of current Ethereum developers, and his Mist browser became the first decentralized web3 browser. Together with co-founder and wife, Marjorie Hernández, a Caracas-born architect, strategist and innovation consultant, who in 2015 built and led the EY's Innovation Lab in Berlin, before founding LUKSO.

"Fabian Vogelsteller has redefined the Blockchain space as we know it by authoring the ERC20 standard," says Johnny Lyu, CEO at KuCoin Global. "He and his team will continue this forward-thinking vision by bringing Blockchain to the masses with LUKSO. KuCoin is thrilled to be part of LUKSO's history by launching this incredible project on our Spotlight platform."

"LUKSO will bring Blockchain technology beyond finance. We are building a Web3 ecosystem specifically to support the creative economies and make the technology inclusive and accessible for everyone," says Marjorie Hernandez, co-founder of LUKSO. "We are excited to launch this exclusive pre-sale sale with KuCoin, to allow their community to participate, get excited and have a stake in the future network."

LUKSO will follow the exclusive pre-sale on KuCoin of one million LYXe (valued at 220,000 USD), with the launch of the world's first Reversible Initial Coin Offering (rICO) one week later on May 27.

The Reversible ICO was conceptualized by Fabian Vogelsteller in 2018 to make fundraising safer by allowing investors to buy tokens over time. It is not only meant as a fundraising mechanism for LUKSO, but also to showcase how to make ICOs regulatory friendly and safe by design. The Reversible ICO was verified with the BaFin, the regulatory authority in Germany and is compliant with German security law. It is important to note that this does not mean the BaFin endorses any sale using the rICO nor LYX.

LUKSO's rICO will take place on May 27 shortly after the Spotlight token sale on KuCoin.

Founded in September 2017, KuCoin has grown into one of the most popular crypto exchanges, and it currently provides a series of financial services including fiat-to-crypto, crypto-to-crypto, futures, staking, borrowing, token launch and more to its 5 million users across 207 countries and regions around the world.

SOURCE KuCoin