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

[tempus]

Just playing around with the wallet and I can buy 50% of lykke for 55000 bitcoins. This equals to 66 million valuation. That is very large valuation for lykke.

100% is about $66 M

55k BTC (x 610) = $33.5 M

Also what happens if all the coins aren't sold?

Selling out the ICO is not priority. If not all LKK should be sold out by end of the ICO:

I wanted to ask what happens if not all the coins are sold during the ICO?

They remain in the treasury.

[luzamarino]

Tempus

"* 1 billion USD average daily volume (Q4 2017) "

Pretty ambitious !!! You have a great team I see that but this figure seems huge for crypto.

[tempus]

Tempus

"* 1 billion USD average daily volume (Q4 2017) "

Pretty ambitious !!! You have a great team I see that but this figure seems huge for crypto.

I'm not one of the core-team, I just help with the community-communication.

But it's true, it is a very skilled team. They have experts for all important areas:
https://lykke.com/leadership.php

And it's also true that their goal may seem ambitious, but I'll give you some informations that may put things into perspective:

Richard Olsen (the CEO of Lykke) is the Co-founder and former CEO of Oanda: https://www.oanda.com

Oanda is a forex-trading platform:

"OANDA is an outgrowth of the Swiss Olsen Group and was created to serve as an internet trading platform to automate techniques based on the group's research in foreign exchange trading.[3] Much of OANDA's technology is based on algorithms published in the book High Frequency Finance,[4] which was co-authored by Dr. Richard Olsen, a principal of OANDA and co-inventor of these algorithms."
https://en.wikipedia.org/wiki/Oanda_Corporation


What I want to say with that is: Lykke won't be just a Crypto-exchange like Poloniex. It can be seen more like a bridge or a door between both worlds, and when it comes to Crypto it won't most likely be that much about smaller Crypto-currencies like they are listed on Polo, Bittrex or other Multi-Currency-exchanges, but more about colored coins - digital assets (but also about forex-trading).

Richard Olsen gave a very insightful interview what Lykke will be about here:

The Future Of Currency
https://www.youtube.com/watch?v=WmZBtKL7ZcM


And if you count that all together, it could very well be that Lykke will be like Oanda on the one side (established financial system) and about digital assets on the blockchain.

And what I believe is really huge potential:

- more secure than usual exchanges because semi-decentralized
- very userfriendly

Those two points are key-aspects in my opinion. Because everybody, if already in Crypto or not, is on the search for "feeling safe" and "I'm able to handle it". Both is still missing for a lot of people while the combination of both is pretty invincible. And there already is proof that they are able to build that. It is an already working product and I have no doubt that they will continue with fast progress and improvements on all fronts.

[Johnny00]

Yes I meant 100% is 66 million. This is a high valuation no?

[tempus]

Yes I meant 100% is 66 million. This is a high valuation no?

I'm really not sure about valuations in general. And it also was one of my concerns in the beginning.

But: If we think about other projects, let's say Waves:

Waves is also about a decentralized exchange. They got near to $20 M if I'm right in their ICO (or $18 M). If you think about what the market would do with it's price, if they would have (a lot already delivered):

- something like this: https://lykke.com/technology.php
- a great App: https://lykke.com/lykkewallet/
- would already have FIAT-Implementation
- a team like Lykke with a CEO like Richard Olsen
- connections to IATA and so on

- and a roadmap like this:

Roadmap

* Margin trading (Q4 2016)
* Regulated retail FX (Q4 2016)
* Offchain settlement scalable to 100’000+ transactions per second (Q4 2016)
* Ethereum support: multisig wallets, interblockchain atomic swaps (Q1 2017)
* Payment system provider (Q2 2017)
* Regulated institutional FX (Q3 2017)
* Fixed income products, commodities (Q3 2017)
* 1 billion USD average daily volume (Q4 2017)




...I believe the price would have gone at least x5 or even higher. Monero is near to $100 M right now. Ripple is at $ 282 M.

Under the line, if we focus on it's potential, I believe the price is not too high.

[rnr]

They are offering White Label solutions, right?

One thing is for sure: This guys have good contacts as hell. Especially into banks and FX traders. And to be honest: All of them are looking for new high profits and "gambling" with leverage.

Here´s the solution for the bankers to enter crypto scene with professional (legit, regulated, trustable and founded from "their own") leverage/margin tools: Lykke :-)

The 1 Billion trading volume isn´t targeted by the average crypto traders/users, they are targeting the banks and FX traders with huge trading volume/capital. Just my 2 cents.

In consideration of that I assume that 66 Mio. are not much.

[LykkeX]

They are offering White Label solutions, right?

One thing is for sure: This guys have good contacts as hell. Especially into banks and FX traders. And to be honest: All of them are looking for new high profits and "gambling" with leverage.

Here´s the solution for the bankers to enter crypto scene with professional (legit, regulated, trustable and founded from "their own") leverage/margin tools: Lykke :-)

The 1 Billion trading volume isn´t targeted by the average crypto traders/users, they are targeting the banks and FX traders with huge trading volume/capital. Just my 2 cents.

In consideration of that I assume that 66 Mio. are not much.

Whitelabeling indeed is a good opportunity. Issuers can offer the solution to their customers without needing to build the infrastructure for themselves.

If banks trade fiat currencies, which is the biggest market in the world by nominal volume circa 5 trillion/day, they only can settle within 2 days. With Lykke's solution they can settle within 60 minutes. There can also be many advantages from the customers point of view compared to a traditional bank deposit. People in mainstream finance see the benefit of that, but they don't have an idea how it relates to Cryptocurrencies and speak of private blockchain. With Lykke institutions can issue ColoredCoins which are essentially IOU's and settle these between them, in a much more efficient manner.

[1] https://lykke.com/city/openprojects/projects/2016-05-30/financial_markets_with_instantenous_interest_rates

[LykkeX]

Tempus

"* 1 billion USD average daily volume (Q4 2017) "

Pretty ambitious !!! You have a great team I see that but this figure seems huge for crypto.

Yes, that's 10x the entire Bitcoin to fiat liquid volume on all exchanges (roughly 100M$ per day). In terms of FX market that's a small market: Reuters/FXALL does 110 billion and EBS 78 billion average daily volume. So this would be 0.1% of global market share.

[fortunecrypto]

I lost my password on coinprism which stored my 10,000 Lykke coming from March give away,coin prism do not offer password retrieval so I think it's really lost,what is the worth of 10,000 Lykke in current CHF rate?

[r.o.o.t]

Any news about a desktop wallet please ? Android works somehow, just worried about security.

[tempus]

Great blog-post from David Siegel about Lykke:

The Story of the Lykke Coin
https://medium.com/@pullnews/the-story-of-the-lykke-coin-251b8179480c#.jenakwsg6

[lokojones]

interesting project, but ICO is not clear enough for me...

[tempus]

interesting project, but ICO is not clear enough for me...

Unclear in which terms?

Maybe this blog-article can answer questions you might have:

Crowdfunding The Future Exchange
https://medium.com/@pullnews/crowdfunding-the-future-exchange-16cffe9b53bb#.x7nlbumtd

If not - just ask and we'll see if we can clear things up. ;-)

[tempus]

Any news about a desktop wallet please ? Android works somehow, just worried about security.

First step will be a web-based terminal, but the private key will stay on the phone. And it will also be possible to generate keys offline to be secure.

Additionally it's already possible to use coinprism wallet for LKK.

[tempus]

Lykke just published this: 

Lykke ICO FAQ
https://lykke.com/city/blog/2016-10-05/lykke_ico_faq

Very interesting read - can clear up a lot of questions at once.

[ivanst776]

Guys I want to report one thing about the signature links which I have currently (sorry If someone else reported earlier)

When I click on my signature I get a message that the connection is insecure, can anyone else check it?

I thought it was only for the first day and hoped that will be fixed but it is still same.

[vlom]

Guys I want to report one thing about the signature links which I have currently (sorry If someone else reported earlier)

When I click on my signature I get a message that the connection is insecure, can anyone else check it?

I thought it was only for the first day and hoped that will be fixed but it is still same.

yes. there is something wrong with the certs. my browser asks me if i really want to visit the site.

[moroseneng]

Any news about a desktop wallet please ? Android works somehow, just worried about security.

in my opinion android its look safety

[LykkeX]

Guys I want to report one thing about the signature links which I have currently (sorry If someone else reported earlier)

When I click on my signature I get a message that the connection is insecure, can anyone else check it?

I thought it was only for the first day and hoped that will be fixed but it is still same.

Will respond soon.

[Mongwapogi]

Guys I want to report one thing about the signature links which I have currently (sorry If someone else reported earlier)

When I click on my signature I get a message that the connection is insecure, can anyone else check it?

I thought it was only for the first day and hoped that will be fixed but it is still same.

Will respond soon.

This is what I'm talking to Edward. But I have no respond. He edited the signature link.