https://www.financemagnates.com/cryptocurrency/exchange/ethereum-now-available-lykke-cryptocurrency-exchange/
Recent article in finance magnates about ethereum integration in the lykke exchange
Topic: (LKK) LYKKE speculation - page 3. (Read 9056 times)
Since two days ago Lykke's price per coin on coinmarket cap went down from 0.395 to 0.383 but its market cap went up from around 56 to 61 million. Has there been some distribution so more conis are in free float?
I rather think the time to buy "cheap" lykke was all the way from 0.05 to 0.15, not now at 0.383.
I rather think the time to buy "cheap" lykke was all the way from 0.05 to 0.15, not now at 0.383.
Time to get some cheap lykke!! Be quick this aint gonna last
Lykke is to me one of the best investments these days. Their decentralised-centralised exchange system has enormous utility in the foreign exchange markets. Way more secure, time and cost effective for people and companies dealing with massive international transactions.
I can't believe that on google play, their app is only listed with 1000+ downloads.
There is a LOT of upside potential here, although the $0.05 USD buys might be history.
I can't believe that on google play, their app is only listed with 1000+ downloads.
There is a LOT of upside potential here, although the $0.05 USD buys might be history.
They are still under the radar, so a perfect time to get some coins..I bought at $0,04 but i believe in this coin to reach a minimum of $100 when its really starts getting adopted. Its just a great thing to have a decentralized exchange with zero commissions. 100% save
I don't see $100 happening. $1 is a more realistic price for now. I think that the only problem right now is marketing. This coin needs to get into more peoples hands. Once that happens, I can see this coin going up quite a bit in price
I agree on a 1 year term. $100 i think is possible in 4-5 years
still looks good to me, we scraping against $0,40 already. and volume is rising
As I see from this forum, most of the people invested to the altcoins say that in one year period it will be $100. C'moon be realistic. It will not work.
That coin, this coin if you ask anybody all coins will be 100 dollars worth in a year.
I think there are just a few coins to be invested. That's why even you say that maaan it is just $10, you need to be careful about the investments you made.
Still money is money
That coin, this coin if you ask anybody all coins will be 100 dollars worth in a year.
I think there are just a few coins to be invested. That's why even you say that maaan it is just $10, you need to be careful about the investments you made.
Still money is money
will coinholder meeting makes price increase?
Lykke has achieved long awaited milestones: Offchain settlement and Ethereum integration. We will hold an Annual Lykke Coinholder meeting online on June 29.
Ether is on Lykke
We are happy to make Ether available for trade in Lykke Wallet with Ethereum fully integrated to Lykke Exchange settlement process.
Lykke smart contract has 2-of-2 multisignature set up, so that every transaction such as trade or withdrawal needs two signatures: by the client's and by the exchange's private key. The contract holds segregated clients balances and provides a mechanism to guarantee funds recovery if the exchange goes offline.
Check out our CTO's recent blog post, where the Ethereum integration is explained, and the smart contract code on Github.
Offchain Settlement
We have deployed offchain settlement at Lykke Exchange.
Users can now securely complete trades in state channels, that are opened between the client and the exchange.
The Bitcoin blockchain was built to process about seven transactions per second. That translates to a settlement time of about 10 to 30 minutes per trade, and impose significant limitations for the exchange capacity to settle trades.
Offchain settlement allows to overcome this limitations without compromising the security. The counterparties freeze funds as a collateral on the blockchain and provide the so-called commitments to each other. When both parties agree to the terms of the new trade then commitments are updated. Commitment transaction can be broadcasted at any time on the blockchain to get frozen funds back and close the channel.
Read our Offchain Settlement FAQ
Lykke Regulated Entities
Demetrios Zamboglou, Lykke CBDO:
EU Broker license update
Our application for European Investment Firm (CIF) license for Lykke Cyprus Ltd. is on the fast track at CySEC (Cyprus Securities and Exchange Commission). The team is preparing an official response (answers and additional documents) to the first letter recently received from CySEC.
EU Electronic Money Institution license update
The application for EMI is ready to be submitted to the Central Bank of Cyprus (including a pledge of 350,000 Euro Capital Requirement). Lykke EMI is engaged with various banks for supporting the payment processing strategy. New systems and controls are now in place – pending activation for electronic payments.
UK MTF license update
The MTF (Multilateral Trading Facility) package is facing some new delays due to the updated FCA requirements for UK based MTF. We are updating the IT Strategy document and the application package to match the new requirements of the FCA.
Margin trading update
The final release of the Lykke platform for margin trading is awaited in June for a limited list of jurisdictions under Vanuatu's Dealer in Securities license. Traditional leveraged FX & CFD products will be extended by BTC and ETH trading.
Michael Klena, Director of Lykke US:
US has fragmented regulations, in that different products are overseen by different regulators. And each regulator has different levels of approval, depending on trust/experience with the regulator and capital segregated.
Lykke's approach is like climbing a ladder. We will get approval for the lowest levels first. Then we can apply for higher & higher regulation approvals. This takes time, but it is the best way to achieve our goals.
Applications have already been submitted to SEC, US Treasury and IRS with CFTC and OCC to follow shortly. We expect our first approvals for a very limited set of products by the fall. Each quarter we expect to add more & more products as approvals come in. By the end of 2018, we expect to be able to trade everything that Lykke offers.
Seamus Donoghue, Director of Lykke Singapore:
We have a new addition to the team in Singapore - Venky Sethuraman has joined us and as the former head of equities with Standard Chartered and previously Citibank brings us great institutional experience that we can leverage across the region.
We are in the final stages of choosing legal council to assist us with our Singapore regulatory applications to enable us to launch a fully tokenized securities exchange. This would allow us to handle security related ICO/ITOs as well as provide a venue for secondary trading. It has been challenging to find firms that have any in-depth understanding of tokenized assets but we have managed to narrow it down to a strong shortlist. Given the local Singapore retail market is relatively small, our initial licensing will be for accredited investors and institutions as this will allow us to provide services to the large institutional pools of private wealth in Singapore. Once the application process has begun, we expect the process to be completed in roughly 8-10 months. We will look to partner with local incumbents to tap into the Singapore retail market.
As we prepare our regulatory applications for securities trading we expect to roll out crypto and tokenized FX products in the 3 to 4 months assuming that the legal opinion that this will not jeopardize our regulatory applications. That legal opinion should be confirmed shortly. The launch of the Singapore wallet will enable all retail investors to access the FX and cryptocurrencies, while securities, once we obtain regulatory approval, will only be available to accredited investors. We are in the process of working with compliance partners to gap our AML and KYC policies to MAS standards and ensure our Terms and Conditions are consistent with Singapore Law. We expect to announce a launch date in the coming month.
Annual Coinholder Meeting
We are proud to have more than 3'000 Lykke coin holders from 87 countries today. Each 1 LKK embodies an entitlement to the 1/100th of a Lykke company share.
We plan to hold our annual meeting digitally on the 29th of June, 15:00 Zurich time. The link will be sent out in advance.
We will report for the first year of operations, provide insights on our new projects and initiatives, and answer your questions.
Please note that to be able to vote you would need to complete your identification process in the Lykke Wallet (selfie, ID, proof of address).
Lykke life speeds up - stay tuned!
Richard Olsen and Sergey Ivliev,
Founders of Lykke
All impressive stuff!
also the value of lykke is still rising every day.
sad for me, cause i wanted to buy so many more
there is nothing like lykke out there! get on board or get left behind, choice is yours.
Ether is on Lykke
We are happy to make Ether available for trade in Lykke Wallet with Ethereum fully integrated to Lykke Exchange settlement process.
Lykke smart contract has 2-of-2 multisignature set up, so that every transaction such as trade or withdrawal needs two signatures: by the client's and by the exchange's private key. The contract holds segregated clients balances and provides a mechanism to guarantee funds recovery if the exchange goes offline.
Check out our CTO's recent blog post, where the Ethereum integration is explained, and the smart contract code on Github.
Offchain Settlement
We have deployed offchain settlement at Lykke Exchange.
Users can now securely complete trades in state channels, that are opened between the client and the exchange.
The Bitcoin blockchain was built to process about seven transactions per second. That translates to a settlement time of about 10 to 30 minutes per trade, and impose significant limitations for the exchange capacity to settle trades.
Offchain settlement allows to overcome this limitations without compromising the security. The counterparties freeze funds as a collateral on the blockchain and provide the so-called commitments to each other. When both parties agree to the terms of the new trade then commitments are updated. Commitment transaction can be broadcasted at any time on the blockchain to get frozen funds back and close the channel.
Read our Offchain Settlement FAQ
Lykke Regulated Entities
Demetrios Zamboglou, Lykke CBDO:
EU Broker license update
Our application for European Investment Firm (CIF) license for Lykke Cyprus Ltd. is on the fast track at CySEC (Cyprus Securities and Exchange Commission). The team is preparing an official response (answers and additional documents) to the first letter recently received from CySEC.
EU Electronic Money Institution license update
The application for EMI is ready to be submitted to the Central Bank of Cyprus (including a pledge of 350,000 Euro Capital Requirement). Lykke EMI is engaged with various banks for supporting the payment processing strategy. New systems and controls are now in place – pending activation for electronic payments.
UK MTF license update
The MTF (Multilateral Trading Facility) package is facing some new delays due to the updated FCA requirements for UK based MTF. We are updating the IT Strategy document and the application package to match the new requirements of the FCA.
Margin trading update
The final release of the Lykke platform for margin trading is awaited in June for a limited list of jurisdictions under Vanuatu's Dealer in Securities license. Traditional leveraged FX & CFD products will be extended by BTC and ETH trading.
Michael Klena, Director of Lykke US:
US has fragmented regulations, in that different products are overseen by different regulators. And each regulator has different levels of approval, depending on trust/experience with the regulator and capital segregated.
Lykke's approach is like climbing a ladder. We will get approval for the lowest levels first. Then we can apply for higher & higher regulation approvals. This takes time, but it is the best way to achieve our goals.
Applications have already been submitted to SEC, US Treasury and IRS with CFTC and OCC to follow shortly. We expect our first approvals for a very limited set of products by the fall. Each quarter we expect to add more & more products as approvals come in. By the end of 2018, we expect to be able to trade everything that Lykke offers.
Seamus Donoghue, Director of Lykke Singapore:
We have a new addition to the team in Singapore - Venky Sethuraman has joined us and as the former head of equities with Standard Chartered and previously Citibank brings us great institutional experience that we can leverage across the region.
We are in the final stages of choosing legal council to assist us with our Singapore regulatory applications to enable us to launch a fully tokenized securities exchange. This would allow us to handle security related ICO/ITOs as well as provide a venue for secondary trading. It has been challenging to find firms that have any in-depth understanding of tokenized assets but we have managed to narrow it down to a strong shortlist. Given the local Singapore retail market is relatively small, our initial licensing will be for accredited investors and institutions as this will allow us to provide services to the large institutional pools of private wealth in Singapore. Once the application process has begun, we expect the process to be completed in roughly 8-10 months. We will look to partner with local incumbents to tap into the Singapore retail market.
As we prepare our regulatory applications for securities trading we expect to roll out crypto and tokenized FX products in the 3 to 4 months assuming that the legal opinion that this will not jeopardize our regulatory applications. That legal opinion should be confirmed shortly. The launch of the Singapore wallet will enable all retail investors to access the FX and cryptocurrencies, while securities, once we obtain regulatory approval, will only be available to accredited investors. We are in the process of working with compliance partners to gap our AML and KYC policies to MAS standards and ensure our Terms and Conditions are consistent with Singapore Law. We expect to announce a launch date in the coming month.
Annual Coinholder Meeting
We are proud to have more than 3'000 Lykke coin holders from 87 countries today. Each 1 LKK embodies an entitlement to the 1/100th of a Lykke company share.
We plan to hold our annual meeting digitally on the 29th of June, 15:00 Zurich time. The link will be sent out in advance.
We will report for the first year of operations, provide insights on our new projects and initiatives, and answer your questions.
Please note that to be able to vote you would need to complete your identification process in the Lykke Wallet (selfie, ID, proof of address).
Lykke life speeds up - stay tuned!
Richard Olsen and Sergey Ivliev,
Founders of Lykke
All impressive stuff!
also the value of lykke is still rising every day.
sad for me, cause i wanted to buy so many more
there is nothing like lykke out there! get on board or get left behind, choice is yours.
Tempus, thanks you're being very helpful here 
I was just wondering about the roadmap for Lykke. Looking at Trello, there is quite a lot of things listed for the near-term, do you think that will all realistically be done by the end of this year? I am really enthusiastic about the Lykke project and checking every day about anything that's going on, i guess that can make it like waiting for a kettle to boil!
I was just wondering about the roadmap for Lykke. Looking at Trello, there is quite a lot of things listed for the near-term, do you think that will all realistically be done by the end of this year? I am really enthusiastic about the Lykke project and checking every day about anything that's going on, i guess that can make it like waiting for a kettle to boil!
The Trello-roadmap actually was an internal roadmap but Sergey gave me his ok to publish it. It's not totally set in stone but more dynamic. Especially time estimations may change, sometimes he moves something from near- to mid-term and the other way around for example (you can see changes by clicking on Menu - on the right side).
And history shows, not just in Lykke but in all ambitious Blockchain-projects, that delays are not that rare. With other words: Think of the roadmap as goals to reach and I have no doubt that those goals will be reached, but it's very hard or even impossible to think in fixed time-estimations. That's also a reason why there are no fixed dates - only near/mid/long-term. That gives some room. ;-)
But yes, I believe that "near-term" is achievable in within about few months. If not Sergey would move it to mid-term. He did that with P2P-Lending for example.
About time estimations (near-/mid-/long-term) he said this on Telegram:
"short term (in road map) indicates the tasks that are in development/deployment phase, eta typically 0-4 months; in 'mid-term' are the tasks that are on our todo list, eta 3-6 months; long-term are the projects that we envision, eta up to 12 months and longer"
Super, thanks!
Tempus, thanks you're being very helpful here
I was just wondering about the roadmap for Lykke. Looking at Trello, there is quite a lot of things listed for the near-term, do you think that will all realistically be done by the end of this year? I am really enthusiastic about the Lykke project and checking every day about anything that's going on, i guess that can make it like waiting for a kettle to boil!
I was just wondering about the roadmap for Lykke. Looking at Trello, there is quite a lot of things listed for the near-term, do you think that will all realistically be done by the end of this year? I am really enthusiastic about the Lykke project and checking every day about anything that's going on, i guess that can make it like waiting for a kettle to boil!
The Trello-roadmap actually was an internal roadmap but Sergey gave me his ok to publish it. It's not totally set in stone but more dynamic. Especially time estimations may change, sometimes he moves something from near- to mid-term and the other way around for example (you can see changes by clicking on Menu - on the right side).
And history shows, not just in Lykke but in all ambitious Blockchain-projects, that delays are not that rare. With other words: Think of the roadmap as goals to reach and I have no doubt that those goals will be reached, but it's very hard or even impossible to think in fixed time-estimations. That's also a reason why there are no fixed dates - only near/mid/long-term. That gives some room. ;-)
But yes, I believe that "near-term" is achievable in within about few months. If not Sergey would move it to mid-term. He did that with P2P-Lending for example.
About time estimations (near-/mid-/long-term) he said this on Telegram:
"short term (in road map) indicates the tasks that are in development/deployment phase, eta typically 0-4 months; in 'mid-term' are the tasks that are on our todo list, eta 3-6 months; long-term are the projects that we envision, eta up to 12 months and longer"
Tempus, thanks you're being very helpful here
I was just wondering about the roadmap for Lykke. Looking at Trello, there is quite a lot of things listed for the near-term, do you think that will all realistically be done by the end of this year? I am really enthusiastic about the Lykke project and checking every day about anything that's going on, i guess that can make it like waiting for a kettle to boil!
I was just wondering about the roadmap for Lykke. Looking at Trello, there is quite a lot of things listed for the near-term, do you think that will all realistically be done by the end of this year? I am really enthusiastic about the Lykke project and checking every day about anything that's going on, i guess that can make it like waiting for a kettle to boil!
one thing is clear. the price won't jump up and down (pump and dump) when the token is not listed on exchanges.
a problem i have with lykke is: do you really don't need lkk to make a trade? if the answer is yes: how will the company make money the future?and why should anybody buy tokens/shares?
a problem i have with lykke is: do you really don't need lkk to make a trade? if the answer is yes: how will the company make money the future?and why should anybody buy tokens/shares?
No, users don't need to buy into LKK to use Lykke and there is also no fee. So yes, it's of course a good question how they'll make money. The answer is: Lykke acts as marketmaker, is algodriven and makes money over the spread. You can think of that as kind of a dynamic fee, dependent on the market situation. Additionally Lykke will also become a platform for others to do crowdfundings, they plan to go into the payment direction pretty soon, over time it may even become a prediction platform.
Here is an answer of Richard Olsen on Reddit on a similar question:
"My apologies for the late response: yes, our business model is to earn money as a market maker. In this context I want to mention that we will create investment products, whichLykke customers can invest in. The funds of these investmetn products will be used for market making. If market making is done with our own funds, we earn 100% of the profits, whereas with the investment products Lykke earns the performance fee.
Lykke is on a rapid innovation path and we will release products that will be game changers for the industry: margin based trading across all asset classes on blockchain, boxoption - a highly intuitive tservice to trade short-term price moves, borrowing and lending service powered by a new securities lending model. We will offer these services fully regulated, which enables us to aggressivley market our services across the globe. The growh and profit potential for Lykke is huge."
https://www.reddit.com/r/lykke/comments/5u9auy/if_lykke_doesnt_take_fees_for_anything_how_they/
one thing is clear. the price won't jump up and down (pump and dump) when the token is not listed on exchanges.
a problem i have with lykke is: do you really don't need lkk to make a trade? if the answer is yes: how will the company make money the future?and why should anybody buy tokens/shares?
a problem i have with lykke is: do you really don't need lkk to make a trade? if the answer is yes: how will the company make money the future?and why should anybody buy tokens/shares?
You can find the actual price in the lykke app.
Well, but that was an active offer until February 28th.
Now you can still buy lkk1 coins and at what price?
Now you can still buy lkk1 coins and at what price?
Hey kronos123, right now it's around 10%, the market dictates the price of course, I've seen it above and below that but I think the days of 20% discount are long gone.
Well, but that was an active offer until February 28th.
Now you can still buy lkk1 coins and at what price?
Now you can still buy lkk1 coins and at what price?
I'm planning to buy another 150k lkk1y, but i am waiting for the opportunity to sell a large chunk of XRP for that.
So lykke must not rise to hard to soon. at least wait fot XRP to rise around $.75
So lykke must not rise to hard to soon.
at least wait fot XRP to rise around $.75What is lkk1y?
https://www.lykke.com/city/blog/what_is_lykke_forward you buy lkk at a discount by settling lkk1y for 1 year
I'm planning to buy another 150k lkk1y, but i am waiting for the opportunity to sell a large chunk of XRP for that.
So lykke must not rise to hard to soon. at least wait fot XRP to rise around $.75
So lykke must not rise to hard to soon.
at least wait fot XRP to rise around $.75What is lkk1y?
Is the offchainsettlement update complete and successful now?
As far as I understand, it's a like a step-by-step-rollout, that more and more users are taken into offchain. And yes, all seems fine so far.
Only issue I know and also experienced myself: first it gives the message "App version not supported. Please update."
Users need to log out and than to login again. That should solve the problem.
Is the offchainsettlement update complete and successful now?
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