Lykke, a Swiss Fintech company building a global marketplace, where any sort of financial instrument can be traded and settled peer to peer with second-by-second interest payments, recently completed a three-week public offering of a deliverable 1-year forward equity contract
The Lykke marketplace utilizes blockchain technology pioneered by Bitcoin to offer immediate settlement and direct ownership. All the software that serves as the foundation of the market will be developed in open source.
Commissions are zero and the company anticipates ample trade volumes when fully launched. Revenue will come from providing liquidity, offering issuance services, and supporting institutional clients.
The new token is a special kind of forward contract that is bought and sold on the Lykke exchange. Called LKK1Y, it entitles the owner to convert to the Lykke equity coins after a waiting period of one year.
Richard Olsen, CEO of Lykke said:
“This is a huge validation for our project, our people, and our company. I’m thrilled that so many people are supporting us. We are now able to continue with our various license applications and improving our ecosystem. Lykke is currently working on a number of new features and products to add to its trading platform.”
In September of 2016, Lykke raised over 1.16 million CHF in its initial coin crowd sale. The tokens, traded under the symbol LKK, are available on the Lykke platform issued as “colored coins” on the Bitcoin blockchain.
Currently, the price of the public LKK tokens is trading around 0.047 CHF. The LKK1Y “forward coin” is offered at a fixed price of 0.04 CHF – roughly a 15% percent discount for buying today and holding for at least one year. After a three-week settlement period, these forward contracts will be tradable on the Lykke platform.
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