Swiss Startup Lykke Launches 2 New Crypto Indexes
Swiss startup Lykke has launched two new crypto indexes and their associated service tokens, growing its product offering aimed at providing “a simple path to the crypto market,” the company said on Thursday.
The first index, called Smart LyCI, tracks the top ten blockchain projects that work on improving how contractual agreements are recorded and settled. Smart contracts aim to facilitate agreements to be carried out among two or more parties remotely, without the need for a legal system, lawyers or courts. Projects comprising the index are Ethereum, Ethereum Classic, NEM, TRON, Tezos, Onthology, EOS, Cardano, NEO and Stellar.
Initial composition of LyCI Smart Contract, Lykke
The second index, Pay LyCI, tracks the top 10 cryptocurrencies that can be used to buy and sell goods and services. These cryptocurrencies are Bitcoin, Bitcoin Cash, Bitcoin SV, Dash, Dogecoin, IOTA, Litecoin, Monero, XRP and Zcash.
Initial composition of LyCI Pay, Lykke
Commenting on the launch, Richard Olsen, founder and CEO of Lykke, said:
“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.”
In January, Lykke launched the LyCI Service Token, allowing users to purchase the top 25 cryptocurrencies tracked by LyCI, an index the company introduced at the end of 2018 and representing a market-cap weighted basket of the top 25 crypto assets, rebalanced minute-by-minute.
When buying the LyCI Service Token, users invest in the assets tracked by LyCI and can request at any time the delivery service of the underlying assets. The index aims to offer investors an easy way to invest in the blockchain market as a whole without the hassle of keeping track of its rapid changes, while diversifying the risk that is often associated with blockchain technology.
Lykke’s crypto indexes are available over the Lykke Exchange, an online marketplace where users can exchange and trade cryptocurrencies as well as traditional fiat currencies with zero trading fees.
Established in Switzerland in 2015, Lykke is a fintech company that is developing a global marketplace for the free exchange of financial assets. Lykke used the Colored Coin protocol to list and represent financial instruments.
The company is based in Zurich and has subsidiaries in Vanuatu, Cyprus, the UK, Singapore, and the US.Read More