1 March 2019, Zug (Switzerland) – Lykke has extended its list of products designed to make the crypto market more accessible by unveiling the addition of two new Crypto indexes: Smart LyCI, Pay LyCI, and their accompanying service tokens.
Earlier this year, Lykke released its Crypto Index, LyCI and its associated Service Token. The index tracks the biggest 25 projects from the crypto and blockchain space according to market cap, which is rebalanced every minute. Users that purchase the LyCI Service Token are able to invest in the assets tracked by the index and can ask to have these assets delivered to them by this service. LyCI enables investors to easily access the entire Blockchain market without having to keep themselves updated with the rapid market changes constantly.
Even though LyCI tracks the entire Blockchain ecosystem and its development, the number of crypto projects that will have long-term success and large-scale implementations is considered to be rather limited. In order to confront this situation, Lykke has expanded its family of Crypto Indexes by adding LyCI Smart Contract, LyCI Pay and their associated service tokens, which gives users the ability to invest in the projects that they believe will be successful.
Smart LyCI was developed to track the top 10 blockchain projects that are working towards improving the process of recording and settling contractual agreements. A smart contract’s purpose is to settle an agreement between two or more parties remotely and eliminates the need for a legal or financial intermediary. As the terms of such contract are recorded on digital format on the blockchain, this makes the transactions traceable, transparent, and immutable.
Pay LyCI was developed to track the top 10 cryptocurrencies which can be used in acquiring or selling products and services. The prices of these cryptocurrencies can also fluctuate, just as they can with fiat currencies. Because of this, users can profit from accessing all these different currencies in one single place, benefiting from its diversity and appreciation potential.
Regarding the launch, the Founder and CEO of Lykke, Richard Olsen, said the following: “In the traditional finance industry, professional investors have been making a lot of money for a long time through index investing. We are introducing a wonderful opportunity for everyone to make money and get involved in the exciting emerging crypto space. Democratization of a previously closed and secretive industry is inevitable, and we are proud to be pioneering it”.
These recently launched products can be accessed first on Lykke Exchange – a web-based marketplace, where cryptocurrencies and traditional fiat currencies can be exchanged in a secure environment with no trading fees.
What is Lykke?
Lykke is an international company, headquartered in Switzerland, that aims to create a marketplace which enables the exchange of financial assets, free of cost and at a global level.
Lykke’s goal is to make finance accessible to all individuals by harnessing the decentralized nature of blockchain technology. By eradicating the limits imposed by markets, Lykke will allow all people around the world to have equal access to trading almost all assets through digitization.
Marina de Mattos
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