[ANN] Lykke - Trade Bitcoin, Ethereum, FX and Digital Assets

[Abraxas147]

Is there a way to participate in the ICO for windows (phone) users :-) Any kind of web-interface available or in development?

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[LykkeX]

Keep getting server error.

Any way to invest without android / iphone app?

Working on this. Will provide updates soon.

[LykkeX]

Is there a way to participate in the ICO for windows (phone) users :-) Any kind of web-interface available or in development?

Windows phone was planned. I'm not sure about the progress. Web-Interface - yes. Work in progress here: https://github.com/LykkeCity/ColorEx

[ZeitgeistofBitcoin]

I can't find the lykke wallet at the iOS App Store. I just find: https://angel.co/lykke but thats not correct. Or am I wrong?

No the also Except BTC,euro,dollar etc.

Nice to have a ico for someting that works already, Beautiful beautiful logo by the way. Really a Swiss made app. Bought some

[someone111]

Any bonus for early investors?

Will I be able to invest using EUR bank wire transfer?

[LykkeX]

Any bonus for early investors?

Will I be able to invest using EUR bank wire transfer?

Bonus - no.

EUR transfer - yes.

[Geenstijl]

I almost bought this. But am I reading this well....

There are 1250 million Lykke coins available. Now you are putting 30 million coins up for sale. Thats 30/1250 = 2,4% of all coins.

For this 2,4% you are expecting to raise 1.5 million CHF... Thats like 2 million USD right?

Could you please confirm that i got this calculation wrong?

[LykkeX]

"After a successful ICO, the market value of the Company i.e. of the distributed Lykke coins will be 56 million Swiss Francs."

https://lykke.com/Lykke_Corp_Placement_Memorandum.pdf

[Geenstijl]

"After a successful ICO, the market value of the Company i.e. of the distributed Lykke coins will be 56 million Swiss Francs."

https://lykke.com/Lykke_Corp_Placement_Memorandum.pdf

To be honest, i do not really like the way you answer questions in this indirect way. I just asked a question to which you could state yes or no. I don't want to go look at all these documents when a single statement can do the trick.

I bought some shares because of your nice video. The Dev team seems really legit and capable. Your mobile app is working fabulous. I'm convinced it will make it easy for outsiders to adopt.

Good luck with your project.

[LykkeX]

https://medium.com/@pullnews/are-coinbase-kraken-and-poloniex-doomed-to-fail-2739153d033a?platform=hootsuite#.ct1x0c2e1

[titan20]

What I would like to know is: How dependent is Lykke on Bitcoin? I ask because I always think that it's possible that Bitcoin might lose his leading position in years or, worse, maybe even hard fork into two like Ethereum did. Could Lykke use theoretically any other Blockchain?

And what exactly is the business-model? Or more directly: How to make money?

By the way: First when I saw this I thought it may could be a perfect fit with Factom.

The team is actively looking into Ethereum, as per the business plan. Yes, in theory any chain that supports issued assets could do. Openasset and Bitcoin decision was made at the very beginning, and integration takes time, so its not a goal to support any chain.

Business model is stated above as earning money on the spread, not commissions. Lykke can act as a market-maker. This part is also under very active development. You should find more documents on the website. If not, it will be good to have more questions in this direction - I'll forward them to the experts on the team. See this academic paper, e.g. https://lykke.com/city/_media/golubdupuisolsen.pdf

Factom - not currently under consideration but thanks for the suggestion. Publishing prices on a blockchain makes sense.

You earn money on the spread, not commissions.
I don't know what that means? How do you earn money on the spread? Can you explain with an example?

[LykkeX]

The blog post: https://lykke.com/city/blog/2016-09-13/lykke_ico

Twitter contest: https://lykke.com/city/blog/2016-09-13/twitter_contest

[LykkeX]

You earn money on the spread, not commissions.
I don't know what that means? How do you earn money on the spread? Can you explain with an example?

Good question. Yes, the spread is what a market-maker earns for offering bid and selling at the ask price. For this Lykke will employ quantitative models. E.g. if you go to the bank to buy Euros against d
Dollars today you pay say 1.1245$ per €. If you want to sell you might get 1.1244$. The 0.0001$ difference will be earned by the bank / broker as compensation. In Lykke's case the currency traded is a ColoredCoin (representing USD or CHF). The Bitcoin blockchain used as a settlement layer. Lykke matches orders and can hedge at other FX venues if it chooses to. The team has a lot of expertise in this area. We plan to write a whitepaper soon on this aspect of the marketplace.

Richard Olsen's book: https://www.amazon.com/Introduction-High-Frequency-Finance-Ramazan-Gen%C3%A7ay/dp/0122796713

Whitepaper on FX trading: https://lykke.com/city/_media/golubdupuisolsen.pdf

[Geenstijl]

If i want to take part in the ICO. Is is smart to buy in your app (on the BTC market) at a rate of 0.0000847 btc per Lykke? Or am I am paying too much doing it like this?

[jupiter00000]

If i want to take part in the ICO. Is is smart to buy in your app (on the BTC market) at a rate of 0.0000847 btc per Lykke? Or am I am paying too much doing it like this?

I think that's the ONLY way to buy it right now. I love the app. I the price of .05 cents (8500 satoshi) seems more than fair

[LykkeX]

Will there be any translation bounties?

Can you please comment on this dev

I've forwarded the request. Not that I'm aware of.

https://lykke.com/city/about/openposition

We're hiring support staff. C# position is filled I think. Contributions to the codebase would of course be welcome.

[LykkeX]

If i want to take part in the ICO. Is is smart to buy in your app (on the BTC market) at a rate of 0.0000847 btc per Lykke? Or am I am paying too much doing it like this?

Yes, 0.05 CHF via the app. The core information is available at lykke.com/ico . We're currently experience an issue with Apple's app-store and will post updates. Play store is not effected.

[mummybtc]

Why is Lykke team restricting potential investors into this project by only allowing only mobile users to participate in the ICO, there is no wallet for windows, I won't use mobile device for my token because it was shown that 95% of all apps on android platform are vulnerable to attack. I think they should use online wallet for other to be able to participate in their ICO.

[LykkeX]

iPhone app will be available again soon in the app store. It will not be available in the China app store. existing wallets should operate normally, otherwise post here or contact support@lykke.com

[LykkeX]

Why is Lykke team restricting potential investors into this project by only allowing only mobile users to participate in the ICO, there is no wallet for windows, I won't use mobile device for my token because it was shown that 95% of all apps on android platform are vulnerable to attack. I think they should use online wallet for other to be able to participate in their ICO.

Could you specify those attack vectors? It is correct that focus is on mobile first, then desktop. You might want to check again later when the webterminal is out.