21 March 2019, Zug (Switzerland) – In their mission to provide access to the crypto market, Lykke has made two additions to its list of products: the Smart LyCI and Pay LyCI crypto indexes and their corresponding service tokens.
The LyCI crypto index and its associated Service Token were launched earlier this year, and it was designed to track the performance of the Top 25 blockchain projects by market cap, which is updated every minute. The LyCI Service Token can be used by its owners to invest in the assets tracked by LyCI and can have the underlying assets delivered to them at request. The blockchain market is prone to many swift changes, so LyCI enables users to easily invest and keep track of these developments.
However, LyCI monitors the progress of a vast majority of blockchain projects, but only a small number of them will prove to be successful in time and gain adoption for their applications. Due to this reason, Lykke has created two new crypto indexes, LyCI Smart Contract, LyCI Pay and their associated service tokens, to address this issue and allow users to invest in the project they are interested in.
Smart LyCI is a product that tracks the movement of the top 10 blockchain projects that are working towards developing the functionalities of smart contracts. Smart contracts were created to eliminate the need for a financial entity to settle an agreement between two or more parties. These contracts improve security and trust as the terms are recorded on an immutable and transparent blockchain.
Pay LyCI is the second product released by Lykke, which tracks the movement of the top 10 digital assets that have a value that can be exchanged for other physical and virtual goods. Because these currencies are prone to massive price fluctuations, users can reap the advantages of being exposed to a weighted assortment of these different currencies, profiting from their diversification and capital gains.
“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”. – said Richard Olsen, Lykke’s Founder and CEO.
Lykke’s Exchange will be the first place where these new products will be available. What sets this exchange apart is that it allows both digital and fiat assets to be traded with no fees.
Lykke is a fintech company based in Switzerland which has created a global marketplace designed to improve assets trading for everyone, with no fees.
Through the use of blockchain technology, Lykke wishes to make finance a sector which can be accessed by anyone. The mission of the Lykke exchange is to eradicate market impediments and bring equality to everyone by making all financial assets available through digital means.
Marina de Mattos
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