🔍 Discovery month going smooth for LUKSO

GM LUKSOFam ☕️,

This is The LUKSO Lense, the newsletter in which we focus on the LUKSO Ecosystem and follow the latest developments in the space. 🔍

Discovery month is going smooth as silk.

The LUKSO mainnet has been launched and is operating flawlessly. This month is "Discovery Month", meaning no news is good. The mainnet is already highly decentralized and running without any issues. The participation rate is at 99.32%.🔥

Additionally, the new Testnet is also running smoothly. We anticipate the LUKSO team will release updated tools this week, allowing developers to begin working with the UP browser extension on the new Testnet.

NFT use case of the week

Last week we discussed the use cases for NFTs 2.0 in gaming. This week we grab the “Traceable Verification Systems” from the article “Exploring the Power of NFTs 2.0: Use Cases to spark your excitement.” 

Traceable Verification Systems

Sustainability and ethical practices have become increasingly important, especially in the fashion industry. To address these issues effectively, traceable verification systems are necessary. NFTs offer a powerful solution to achieve this goal. They can provide a secure and transparent way to track the lifecycle of fashion products.

By tokenizing garments and accessories using NFTs, brands can create a digital passport that follows these items throughout their lifecycle. This record can be used to verify that products are indeed recycled. It can also incentivize sustainable consumer behavior, such as participating in take-back programs or choosing products made from recycled materials.

An exciting project to follow in this space is Candour.Digital, a new platform built on top of LUKSO, is leveraging the most current standards to help fashion brands to prove where & when a product is recycled.

The ERC-725 standard offers a dynamic on-chain key-value store, making it suitable for these use cases. The on-chain information gets updated over time to keep track of the current state of an item. Combined with the power of a Transaction Relayer Service, companies can offer a seamless user experience in which the user does not need to know about the technical underlies and deal with gas fees. These new offerings and standards can bring new applications that were impossible in the last few years.

Twitter spotlight 🐦

Meme of the week

Drop preview of the week

Quick Bites

• Dropps Medium article: Enter LUKSO: mainnet and staking.

• Upcoming tool for validators (stay tuned): LYX.tools

• Upcoming Twitter space with Fabian later today.

And that’s it for now. Enjoy your day, and make it a beautiful one. We’ll meet in your inbox soon!

Stay pink.