Lykke, a Swiss FinTech company building a global marketplace on the blockchain, has announced plans for a limited sale of LKK2Y, a new two-year forward token that marks the beginning of the second phase of Lykke Corp.
“We envision a future, not long from now, where 6 billion people have access to the Internet, and every one of them can be a consumer, investor, and entrepreneur in a digital marketplace for literally any commodity,” said Richard Olsen, Lykke founder and CEO. “This change is already underway, and Lykke intends to be at the forefront. Our roadmap has become even more ambitious, with a wallet ecosystem and trading bridges, an algo store and payment networks, a decentralized real-time matching engine, and a 100-percent crowd-based trading platform.”
Dr. Olsen also addressed the unique challenges facing the company.
“Where we’re going with Lykke is entirely new, and it’s not easy to foresee what we’ll need to get there. We feel like we’ve established a solid foundation, and now we’re ready to expand, to explore the possibilities that we’ve helped to create.”
Lykke’s previous LKK1Y token sale pioneered the concept of a forward contract that is “at the run” for the entirety of its term. This experiment proved to be wildly successful, raising 2 million CHF and attracting hundreds of new investors.
The new LKK2Y token operates on the same principle, except that the term is two years, not one, which has the potential to increase its investment value.
Each LKK2Y token confers the right to receive one Lykke Share, or LKK, exactly 730 days after making this request, whenever the request is made. Each Lykke Share represents a 0.01 stake in Lykke Corp and offers voting rights the right to receive dividends. Because there is no fixed maturity date, holders of LKK2Y can choose to redeem their tokens at any time. In addition, after the initial sale window, unredeemed LKK2Y tokens can be traded on the Lykke Exchange like any other digital asset.
LKK2Y is an ERC20-type Ethereum token. The total supply is 25 million, and the starting price is 0.21 to 0.25 CHF, which represents a discount on the price of LKK at approximately 0.32 CHF.
Investors may purchase LKK2Y from the Lykke Exchange beginning at 12:00 CET on December 12, 2017. The initial sale lasts for 24 hours at the stated discount pricing. After this time, the token will be traded on the secondary market.
To learn more about the LKK2Y token sale and the future that Lykke is helping to shape, please visit https://lkk2y.lykke.com