A few words on security:

Currently the Lykke app will let you create a wallet without explaining that Lykke doesn't actually control the wallet but stores an encrypted blob. People will naturally assume that there is a password recovery feature should they forget their password (which they always do). This is going to create a lot of trouble as people end up being locked out of their wallet upon losing/changing phone or inadvertently logging out of their wallet without making sure they know the password. It is critical that the wallet app explain unambiguously that the wallet itself will become unusable should people forget their password and that Lykke won't be able to recover it. The wallet app should also require people to backup their private key on paper (and put it in a safe place without showing it to anyone) so that they always have a last resort mean to recover their wallet should they lose their smartphone and forget their password and/or pin. Please Lykke make sure your app is fool proof. It will look bad to regulatory authorities if shareholders come complaining that they are not being able to exercise their rights as shareholders due to technical reasons like losing access to one's crypto wallet.

Another issue I see is that although the app allows you to backup your private key as a brain wallet, it doesn't currently offer a way to restore the wallet using said private key. At least I haven't seen anything like that after removing the app and trying to recover from the private key.

Last but not least Lykke needs a desktop wallet and this wallet should be open source and compile under Linux, Mac and Windows. Smartphone security is shaky at best, and nobody in their right mind is going to trust their smartphone with 5-digit figures, like what some people are probably investing in this ICO. I for one feel really uneasy about that. I have never trusted my smartphone with more funds than I usually have in cash in my physical wallet (so a few hundred dollars at most), and refuse to use Paypal or credit card from it for fear of this information being compromised. It feels really awkward to suddenly have to trust this poorly secured device with a large sum and hope it's going to be alright.

One more thing: I understand that LKK and other Lykke exchange based assets are really OpenAssets colored coins. Does that mean that they can be sent to any Bitcoin address and controlled using another OpenAssets client unrelated to Lykke? If that's the case it could be a solution to ship a desktop wallet quicker as developments could be based on some existing OpenAssets implementation.

This ico project seems not well promoted as others. But base on the feature, and devs, is this a good project to invest?

0.05 chf per coin

will i be able to trade Lykke right after ico end ?

I have read on the "Information Broshure" that the Company held 1,883,864 (14.65%) of its own shares and 300,000 of this share are offered for ICO.
So the total shares held by ICOs will be (maximun) about the 2.33%.

It is right or I am wrong something?
Can someone clarify?

thanks

yeah ...

What, exactly, are you offering?

We are offering 30 million Lykke coins (LKK) from September 13 to October 11, 2016, at a price of .05 Swiss francs per coin. The offered coins represent around 2.33% of the issuance.


this looks like VOX specs ... not good it go like 20x below ico price

Q4 2017 - 1 billion usd in daily trading volume.

100x

The free market will take over right after the ICO has ended and trading can begin. What the price will be, I can just tell you what I personally expect but don't take it as prediction:

I don't expect something like a hype how we've often seen it when a project launches on Poloniex months after they've done on ICO. Lykke is different in nearly all aspects. It's not a hype but what we can see is increasing attention. The ICO also is no hype ICO but what is likely: Longterm-Investors bought while short-term oriented Investors most likely are carefully - because there is not that much attention.

One could see as negative that there is not that much attention yet to expect huge volume and high volatility but my personal opinion is that Lykke has a stable base on all important fronts. Great fundamentals and very fast progress, most likely more real supporters as Investors then just short-term-speculators (why I don't expect much sell-pressure) and what I believe are key-aspects: Lykke will be very attractive also for those who didn't even think about buying LKK yet, because it will be used from typical Bitcoin and Ethereum-Speculators and even more interesting for the future are digital assets as colored coins, and the both key-aspects:

1) security
2) easy to use

If I think about the price it means this (my personal expectation):

The more people will use Lykke because they want to buy BTC or ETH or another Digital Asset, the more ppl will make the experience that it's a great platform and LKK-shares become attractive. I expect that a lot of future users will become LKK-Investors.

ICO will finish at 11 October 23:59 Zurich time.


LKK price will float from 12th October on.

@Lyyke:

- What are the (rough) estimated bid-ask spread earnings with 1 Billion USD daily volume?

- All in the future tradeable financial products are handled solely from you as market maker?


I am right that this will be the first crypto exchange operated as market maker?