According to CoinDesk, Fabian Vogelstelle, the inventor of the Ethereum ERC-20 standard, will launch the Layer 1 blockchain project LUKSO, which is designed for the "creative economy". There will be a Genesis Validator deposit smart contract which will go live in a few weeks. The Genesis Validator deposit smart contract will allow users to deposit LYXe (ERC-20 token), launched in ICO in June 2020, after the mainnet is launched, LYXe will be converted to LYX (the native token of LUKSO), LUKSO blockchain Every validator on the network needs to lock 32 LYXe to participate in the block validation process.