Topic: [ANN] Lykke - Trade Bitcoin, Ethereum, FX and Digital Assets - page 79. (Read 144625 times)

Sergey gave me his okay to share the current roadmap that was actually not meant for the public but more as "internal overview".

What needs to be considered, quoting Sergey:
"Road map is not fixed in stone though, priorities may change"

https://trello.com/b/IV0PH2gs/lykke-roadmap

Right now there is only Lykke as market maker/providing liquidity. But there really is a lot in the pipeline. I don't know exact time-expectations, but Lykke will change dramatically in a very positive way and most likely very fast.

ICO ended, and they haves raised much fund, it is a successful ico, team sold decent amount and get enough fund, so no bounty now.

yes but who are the market makers if it's not possible to put a limit order at the moment?

ANNOUNCEMENT: Lykke Exchange will be now stopped for maintenance for 1 hour
https://twitter.com/LykkeCity/status/822541089672495104


That was about 30 min ago...

They've a nearly opposite approach than most of all Crypto/Blockchain-projects I know of. Usual is to show an idea (whitepaper etc.) and to do a lot of marketing to get initial funding. And some or even many of those projects who start that way are very good in luring people into their projects while it at least takes a lot of time after that until they are able to show first results. I could drop names here of projects who have done ICO's in summer 2016 and are near to dead now.

The Lykke-team has built a lot before they've done the public ICO. That's the reason why it already was possible to do the ICO on the own platform. On the other side Lykke would most likely get more attention if LKK would have launched on Poloniex. But there will be other ICO's and Lykke will get increasing attention (that's already the case).

In general can be expected: Increasing intensity (visible) on all fronts, marketing included. They move very fast and there is a lot happening that will impress. I believe that's a safe prediction.

This coin is too low key, since the CEO is a super famous peoson in forex industry, he should know how to marketing, but the result is unexpected, ico coins were not sold out, only a few campaigns, if you have more campaigns, you would sell out the coins.

There were bounty-campaigns during the ICO (August-September) and it's possible that there will be more campaigns in future. I don't know exactly what they plan but most likely they will need also marketers in future, people who bang the drum for Lykke but also projects that will be listed on Lykke and/or start with an ICO on the platform. Maybe they will use Streams for that. So it might be smart to keep an eye on it.

But why would that be fair? And shouldn't the question be: What's best for Lykke because that's also best for Investors?

If you think about it, let's say they would have done such a big ICO: Would people have bought that much of a very young startup that gets increasing attention but is not a hype yet? The answer is: Only if they would have sold it really damn cheap. Would that be fair? I believe no, because they've already delivered great stuff. They've put a lot of work and expertise in what is already there and useful and: free to use. The App is for free and they charge no fee.

At the same time there is much more to come, and they are very hard workers and it's really an impressive team - btw, there are many more working on this project than those who are visible on the site. And more shares will be distributed over time. There will be more funding rounds in future, because it's a simple fact that startups need funding. I don't know if I'm right but I believe the biggest Investor is most likely Richard Olsen himself. And others who work on this are most likely also funders. If true that would mean: They are not only those who work for the success of the company, but they also have the biggest part of the financial risk. 

On the other hand: Investors can give money and that is a risk of course, but also an opportunity. And who wants shares of Lykke can buy. If you want to buy with little money it's possible right now on the market. If you are a millionaire and you would like to buy a lot, it would most likely also be possible. 

Thing is: In the end it's a question if somebody believes that Lykke is a good project with a lot of potential for the future, and not only for some months like many of these "Coin-Projects" or not. And that question is highly dependent on the question if the team has the quality and abilities and can be trusted or not.

That's why I always (not only Lykke) recommend to do deep research about the people behind a project - also with the question in mind if they are honest or if there might be signs for the opposite. And the Lykke-team is really transparent and they give their best to prove that they not only have the skills but also the personalities. With other words: They don't simply say "Trust us, buy this!" - they want to convince with what they are building. At the same time they are very open for all kinds of feedback and very welcoming for all kinds of people who might be helpful. That's the reason for Lykke-Streams: https://streams.lykke.com


A good start to get an impression about the team is this video btw:

Richard Olsen about Lykke idea and objectives
https://www.youtube.com/watch?v=leXWIhS4Y3k

It's from a team-meeting that first wasn't even meant to be published. It's no marketing-material, but it gives very good insight about Richard Olsen, the team and Lykke. 

Until now Lykke as marketplace/exchange is only accessible through the App, also to register an Account. Links to the App-Stores (IOS and Android) are on the Site:
https://www.lykke.com

If you want to take a look first how the App works, David Siegel has made some good videos:
https://www.youtube.com/channel/UCblIYtAjGs9cWjK2uIhDXVw


But no worries, Lykke won't stay on mobile. Web-Terminal is in development and desktop-App is also planned.

If you want to login on their site, https://streams.lykke.com for example, it's the same Account like the App.

come one man, 2.3 % is peanuts......

49% would be fair...

how do you guys login to their website? i can't even see a register link here https://www.lykke.com/exchange.php
i'd like to see how their platform works and maybe buy some shares. i've heard about lykke months ago but its only now that i get to look at them when i saw chronobank partner up with them.

Yes, at least so far and as far as I know. But again: It's really usual for startups. It's also usual that startups distribute shares over time because they do more funding-rounds. If you take a look at Factom for example, they already had several funding-rounds as company (I'm not speaking about their System-Currency Factoids that were sold in the initial ICO - 50% btw).

One question: What do you believe would have been better? I mean, we are talking about a startup and assumed Lykke is legit (I have zero doubt about that) and the team works hard to become successful, one can say: Lykke and all Investors are on the same side, right? Do you think it would be better for Lykke and all Investors if nearly all shares (or whatever higher number) would already been sold out?

There always might be reasons for some or even many to decide not to invest. But to say a calculation is good when it's in fact not correct and to make claims like an "the investment on lykke will be vaporware, it will be gone" without further arguments - how to reply on that?

And the LKK-price was pretty stable in comparison to others while Bitcoin went up very sharp between September (ICO) until now.

Another thing is: I understand the comparison to usual Crypto-Coins, since I also come out of Crypto. But Lykke is a company and while usual Coins very often are not even useful for anything else than trading, LKK represent company-ownership. It's by far not near to all the shitcoins out there to say it in Crypto-terms. And btw: There were and still are a lot of Zero-premine-Scams. There are multiple ways to scam people while there are only a few really good projects with not only skilled but also professional and honest teams who act really transparent.

If you take a look here:

http://coinmarketcap.com/currencies/views/all/

We could place bets on all this Coins and projects and which will become successful (because useful) and which will die. Many are already dead or what I call "walking dead" (abandoned but still on exchanges). If you look into the github of projects, you'll see that many are not under development anymore or with very low activity. If you look into the Github of Lykke: https://github.com/LykkeCity

Last update 16 minutes ago. It won't be easy to find a project with such a high activity on all fronts.


But of course: An Investment in Lykke is a high-risk-investment how it's true for all startups and how it's true for Crypto in general. And like in all projects it's also about trust in the people behind. That's why my advice always is to do research about the teams of projects. That would be my suggestion for Lykke as well.

fair enuff

so 100% - 2.3 % = 97.7 % of the "premine" that's in the hands of Richard Olsen, the company and early investors...

Like already said: It's not only Richard Olsen and the company but also early Investors. But of course, Richard Olsen and Lykke hold the majority. That's very usual for young startups.

Even if the distribution would be like you believe, your calculation is not correct - it would be:

100/12 856 900 * 300,000 = 2.3%

the people behind Lykke are heavy hitters.

If i remember correctly, the CEO built one of the most successful forex trading platforms named OANDA, so they are not amateurs.

I was also trying to work out if it warrants investment on that basis but as it stands, this does not sound like a very good proposal for me.

Maybe there's something that I am missing and I hope that if there is, I will be shown the error of my ways.

You calculation is good for me, I was ready to buy some, but after I see your proofs, I think the investment on lykke will be vaporware, it will be gone, and ICO investors still lose money right now

okay so 12,856,900 shares = 100 %

as I understand, 100 Lykke coins = 1 share

so, they did an ICO for 30,000,000 coins which gives 300,000 shares....

so 300,000 / 12 856 900= 0.0233 % of the company is what they sold in the ICO.

Equating this in cryptocurrency terms, that's like the company holds over 99% of the "premine"....

doesn't sound like a good deal to me....

As available is only shown what was sold to the public in the ICO. The majority is in the hands of Richard Olsen, the company and early Investors. It's not marked as "available" because it's not really on the market. As far as I know they are not happy about how it's shown themselves, also because it somehow distorts the marketcap.

A precise overview can be found here:
https://www.coinprism.info/asset/AXkedGbAH1XGDpAypVzA5eyjegX4FaCnvM/owners

...and here: https://lykke.com/Lykke_Corp_Placement_Memorandum.pdf