Swiss fintech company Lykke, on course to become one of the world’s first regulated marketplaces built on cryptographic technology, has announced the launch of its proprietary 1-year forward offering on February 9, 2017 at a Lykke-hosted event in Zurich, Switzerland.
“In the history of Financial Services, it has always been a requirement to have deep pockets to operate on a level playing field. With Lykke, the only requirement to enter a level playing field is an internet connection, said Olsen.”
Lykke offers a novel financial instrument which operates much like today’s forward contracts with the benefit of being ‘at the run’ for the entirety of the contract period — a significant difference from current procedures which sees settlement occur only at the settlement date.
The One-year forward offering is a special limited offer from February 9-28, 2017, whereby investors can obtain a 20 per cent discount subject to holding Lykke coins for one year. Lykke plans to sell 50,000,000 coins with an issue price of CHF 0.04 per coin, to raise an estimated 2 million Swiss francs. Lykke Coins are registered on a Blockchain and 100 Lykke coins entitle to one Lykke share.
The company was first kick-started in 2015, raising over US$2.8 million dollars soon after its market debut. Currently, Lykke is applying for an investment firm license with the Financial Conduct Authority (FCA) for a multilateral trading facility (MTF) to offer a non-exchange financial trading venue as part of a broader aim of establishing the world’s first ‘crypto-marketplace’ offering trade execution on a range of financial instruments.
As a young, strong start-up with a crack team, Lykke hopes to attract a combination of clientele ranging from speculative traders to import/export clients with several key advantages over existing trading methodology.
The Lykke Marketplace offers on-the-spot pricing even for products delivered in future, establishes full accounting history by implementing blockchain technology and allows its Marketplace participants to take active stakes in Lykke as an entity when conducting trading activity.
Lykke Chief Business Development Officer (CBDO) Demetrios Zamboglou said:
“Genuine change in today’s financial services jungle can only be achieved through robust technology that serves the betterment of all, rather than just its gatekeepers. Lykke is committed to creating a means for anyone to conduct financial transactions and store their assets in secure digital blockchains, secured from any single authority or counterparty. Blockchain-powered crypto-currencies are actively demonstrating their superiority over the fiat-paper status-quo, for so long the bastion of big banks. Blockchain technology is here to show financial services as a sector that there is a better way, and there’s no turning back”.
Lykke’s major selling-point and differentiator is more powerful security with a centralized matching engine and decentralized immediate settlement, and an open-source approach to typically closed-loop systems that dominate financial services transactions today.
For more information regarding the 1-year forward offering, visit forward.lykke.com.
- OpenLedger’s Apptrade (www.apptrade.io), the platform creating “Kickstarter for Apps on the Blockchain”, has received a $100,000 USD boost from OpenLedger ApS, the world’s first blockchain powered conglomerate. Powered by the digital token APPX, Apptrade creates portfolios, or groups, of apps, where if one of those apps becomes the next Instagram or Angry Birds, then the value of the portfolio rises. Ronny Boesing, CEO of OpenLedger ApS, explained that Apptrade’s initial token offering (ITO) changed its valuation in the middle of its crowd sale as an immediate response to the result of its preliminary offering. Boesing said, “The Apptrade platform is much too important to not succeed, and it was clear that we needed to adjust the valuation to make it more appealing to anyone deciding to participate. In addition, we wanted to show our belief in this project, and felt that there was no better way to show this than putting our money where our mouth is. OpenLedger will be adding a total of $100 000 USD to the Crowdsale over the next 7 days.” The minimum fundraising goal is $1M USD with a cap of $5M USD. With a total of 8.25M APPX tokens on offer, OpenLedger’s Apptrade ApS will back these tokens with 20% of the future revenue from the Apptrade platform, and any unsold tokens will therefore be distributed proportionally to all participants. All early bird participants, as well new participants, will receive the extra tokens according to the published Stage 1 structure, plus benefit from the additional tokens to be divided. Daniel Pineda, Founder of Apptrade says, “After listening carefully to feedback from public and private supporters, and with great consideration, we decided to update our master token valuation. We firmly believe that our platform, built on the ecosystem of OpenLedger and powerful BitShares financial trading technology, is a strong Blockchain project that will be a success for years to come. We feel that this is the right action to ensure a satisfactory outcome for all.” Apptrade’s final valuation is going to be based on the amount raised, whether $1M USD as its threshold or money back guarantee, or the maximum of $5M USD. The valuation of the Apptrade platform will be determined on what is raised. The deadline according to the escrow agreement is set to end on April 30 2017. Boesing continued, “This approach and change of valuation resulted from requests from within the community, and we hope to accommodate many more participants. But one thing is clear to all of the Early Birds – this is your lucky day!” - March 27, 2017
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