Question 1

What is LYX?

Accepted Answer

LYX is the native coin of the LUKSO mainnet. It is used both to pay fees for on-chain transactions and contract interactions and as the staking asset used by validators in the proof-of-stake network to participate in network security. “Native coin” means that LYX is used directly by the LUKSO mainnet, rather than existing only as a token representation on another chain. Its fee and staking uses do not mean that holders receive company equity, fixed returns, or a claim on network revenue.

Question 2

Why should I keep LYX when using LUKSO?

Accepted Answer

When sending transactions, calling smart contracts, or interacting with applications on LUKSO, you need LYX to pay transaction fees. Fees are the cost charged by the network for the resources needed to process an operation; without enough available LYX to pay them, the transaction cannot be executed under those settings. Fees vary with an operation's computational and data requirements and cannot be determined solely from the amount transferred. An ordinary transfer and a complex contract call may consume different resources, so retain LYX in addition to the amount being sent and rely on the fee estimate displayed by the wallet or application before submission.

Question 3

How do validators secure the network by staking LYX?

Accepted Answer

LUKSO uses proof of stake. Validators stake LYX and run validator nodes to participate in proposing and validating blocks; these ongoing validation activities collectively help the network reach consensus on transaction ordering and block state. Staking is not simply locking assets to earn a fixed return: participants must also meet validator-operation and network-protocol requirements. Official materials state that rewards are not guaranteed; a node's failure to perform its duties properly can affect rewards, and serious violations may result in slashing of part of the staked assets.

Question 4

How should the rewards and risks of staking LYX be understood?

Accepted Answer

Validator returns are related to participating in proposing and validating blocks according to the protocol, rather than fixed interest automatically generated by holding LYX. Network conditions, validator operation, and protocol rules can all affect actual outcomes. Risks also arise from participation obligations: downtime or failure to perform duties may reduce rewards that can be earned; if protocol-defined serious violations occur, staked assets may be slashed. Therefore, a “staking yield” cannot be understood separately from the participation method, operational capability, exit conditions, and risk framework.

Question 5

What is the difference between LYX, LYXe, and LYXt?

Accepted Answer

LYX is the native coin of the LUKSO mainnet; LYXe is its historical corresponding token on Ethereum; and LYXt is a testnet asset with no monetary value. They have different networks and uses and cannot be used interchangeably merely because their names are similar. The migration from LYXe to LYX has ended, so the historical migration route should not be treated as a regular exchange path that remains available today. Before receiving, withdrawing, or connecting a wallet, confirm that the other party explicitly supports the LYX mainnet asset rather than LYXe or LYXt; testnet assets should also not be treated as mainnet assets with tradable value.

Question 6

What does the 42 million LYX genesis initial supply mean?

Accepted Answer

LUKSO's genesis initial supply was 42 million LYX, a proposal selected by the genesis validators through a vote. “Genesis initial supply” here refers to the supply at mainnet launch. It does not directly answer the current circulating supply, current total supply, or future changes. To determine the quantity tradable at a particular time, a consistent accounting basis for that time is also needed, distinguishing protocol-level supply from balances that are locked, held by addresses, or tradable in the market.

Question 7

What should I check before transferring LYX?

Accepted Answer

Before sending LYX, first confirm that the recipient supports LYX on the LUKSO mainnet, and verify the full address and network. Then ensure the sending account retains enough LYX beyond the transfer amount to pay transaction fees. Signing or broadcasting a transaction does not mean the recipient can already use it; the transaction must still be processed by the network, and the recipient must support that asset environment. If LYX is sent to an address or service that accepts only LYXe, LYXt, or assets on another network, the assets may not be credited automatically.

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