There exist 1,250,000,000 Lykke coins (LKK). 100 coins represent 1 share in the legal entity. Lykke AG is based in Zurich Switzerland. The founder of the project is public and has considerable background, having founded Oanda, one of the largest Forex brokers, see [1]. The total outstanding LKK is valued at 15M CHF, so that each LKK is worth 0.012 CHF (mid price), up from 0.004 recently. The LKK can be currently converted in a manual process to CHF. It is currently in discussion how the exchange to BTC will happen, since the exchange hasn't launched yet, but is planned for release in Q1 or Q2 2016.
In terms of distribution it is perhaps difficult to compare with Proof-of-work or Proof-of-stake system. LKK does not have its own blockchain, but uses the Bitcoin blockchain. The exchange of tokens can happen off-chain. In that sense it is more like a traditional corporation, as it also registered as such. The reason to own the token would be to to expect return in form of fees earned from the marketplace. It is currently a startup project, but the initial phase is nearing completion. The wider project was launched last year in an open format October 2015 (see [2]). There are currently 10-20 people actively working in the project. The closest analogy is a crowd-based exchange, rather than a purely centralised exchange. It is not a decentralised exchange in the sense of Counterparty or Mastercoin, etc.
While getting wider circulating of LKK is also a goal, programmatic distribution in the sense of the known currency systems is not planned. Tokens can either be bought on a market, or earned through contributions.
For the concept and also source-code, I'd encourage anyone to have a look at the wiki and ask questions here. We're currently building on OpenAssets and NBitcoin, but also keep track of all the developments.
Please also note there is the original whitepaper:
https://wiki.lykkex.com/colored_coin_exchange_white_paper [1]
https://wiki.lykkex.com/yellowpages/founders[2]
https://www.youtube.com/watch?v=T6piZnwgqM0