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In pursuit of optimal index modulation -aided multiple-input multiple-output (MIMO) systems, where information is implicitly conveyed by relying on the on/off mechanism of the system's components in addition to the classical amplitude, phase, or frequency components, we present in a tutorial style our novel multi-functional (MF) architecture of layered multi-set (LMS) modulation. This generalized framework subsumes various MIMO techniques exhibiting different multiplexing and diversity functionalities. Our LMS design relies on three constituents, namely the space-time (ST) unit, the layered unit and the spatial switching unit. More specifically, the ST unit relies on the generalized space-time shift keying (GSTSK) scheme, where P - rather than one - out of Q ST dispersion matrices are selected for dispersing an equivalent number of phase-shift keying/quadrature amplitude modulation symbols across the antennas …